Easing the money in
Published by on July 4th, 2006
Cash flow is a ball-breaker for the freelancer. Sometimes it floods, other times it’s a matter of eating packets of noodles which cost 27p each. So for the first time I thought I might try a little of preemptive persuasion.
Client No. 1: a company I have worked with several times in the past and who are always reliable payers, if not prompt. 60 on the nose is usually the case. Last month, however, just after the official 30 days’ payment had passed, I popped a pleasant letter in the post asking for the account to be brought up to date. This wasn’t a statement or reminder type letter, just a ‘Hey, I noticed the invoice is due, we’d really love to have it all settled, thanks’. Or words to that effect. Hey presto! A week later, two weeks earlier than is ‘normal’ for them, the payment turned up.
So now I’m thinking, hey, if that worked once…
Client No. 2: The first small invoice with them earlier in the year took a little nudging and hassle to get sorted, for one reason or another. So with the payment date of the second, much larger invoice approaching last week, I though it wouldn’t hurt to stick a little reminder in, this time before the due date. “Hey, I’d really appreciate you keeping your account up to date and paying this invoice on time.’ (or words to that effect but in a very friendly, non-pressured, businesslike manner). Bingo! less than a week later and pretty much smack on schedule, the invoice was paid.
Now I’m thinking (yes, again)… why on earth didn’t I do this before now?
3 Responses to “Easing the money in”
July 7th, 2006 at 9:28 am
I learned a while back that stating your own terms on your invoice makes all the difference. State your terms in writing as 7 days, or 14, or whatever and it stops the invoice falling into the default 30 days pile.
July 12th, 2006 at 11:14 am
I’ve never had that work for me unless there’s a contract in place which explicitly states the payment terms. That might be down to the different attitudes within our respective industries.
July 22nd, 2006 at 4:14 am
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