MANY of us have been ripped off in the past. I can honestly say, I have only had it happen to me twice in 18 years but advanced technology should certainly make it easier for us to get our money these days. There is NOTHING worse than completing the work then being lied to and misled about the check being in the mail etc. The worst part is like a fool you are waiting for the mailman for a check that the client KNOWS is not coming. You can save yourself from all of this by doing a few simple things. First: Always have high esteem when it comes to your business. By high esteem I’m not saying “Arrogance” I mean believe in your business, KNOW your VALUE and have an appreciation for what you do. If you show signs of weakness potential clients can see that and they will take advantage. Here are 5 tips to collect your money in a timely fashion without chasing cash. (click “Next” above or below for more tips)
Ask for the Money Up Front
This is simply the best way to do it, however, you can’t blame them if they are suspicious and wonder if they will get what they have paid for. Nevertheless, that’s not for you to worry about, IF they came to you. If you go to them, then this method may or may not work. Imagine you ask someone to support your business then give you the money before you do the work, that’s kind of an insult and it looks like you are desperate for money. Treat each situation accordingly—————————–
Offer a Discount if they Pay Up Front
I would not give them more than a 20% discount. Keep in mind whatever you offer them is what they are going to expect each time
Tell them New Clients Have to Pay up Front
This is a good rule but only if they come to you. If you go to them or if it’s a corporation, you should not expect to be paid upfront, you can offer independents a “new client discount” if they pay up front.
Ask them if they use Paypal
Technology is changing the face of business
(thank God) now you don’t have to pay outrageous fees to have someone pay you with a credit card, you can just use a small device on PayPal called the PayPal Card Reader and charge them over you cell phone. There is a small fee but PayPal also offers pay by email and more features and
they don’t have to be a PayPal client. Did I mention I LOVE PayPal
If They are a New Client, they come to you and they Can’t Pay upfront…
Don’t walk… RUN. This is a sure sign you are about to get ripped off.
They Come Back After Being a Slow Pay the Last time?
Tell them you have to collect up front. Remember, have esteem in your business. Your bill collectors do not want to wait to be paid after they provide a service so why should you. You have obviously made a good impression on them if they come back now it’s their turn to show good faith for their mistakes. If they can’t pay up front at least get half or walk.
Avoid Small Talk Get Straight to business
If someone comes to you for business MAKE IT business avoid small talk at all costs, you are a busy entrepreneur. The small talk is a set up to ask for a MASSIVE discount or some kind of deal that’s gonna work more in THEIR favor. Don’t fall for it. If they can give you small talk to get the business, they will BS you when it comes time to pay too.