It can be hard to get paid for many reasons as a small business. Clients sometimes simply forget or refuse to pay, it might even be as simple as an invoicing mistake. Even when avoiding these troubles, you might find you don’t get paid enough for the work you do. How do you avoid this and still get paid?
Getting paid for a consistent or repeated product
For small businesses providing products and services very frequently to multiple clients or multiple times to the same client, they all have the same goal, getting paid, consistently and in full. The only question left is, how?
- Research similar products and their value. Don’t misprice the product you offer. You ruin the business from that client for others and get far less for the service than you should.
- Be knowledgeable about your clientele. Remember when doing research that not all clients are worth the struggle, you can always find another.
- Build a relationship with clients. If you like a client, try to build a relationship with them through communication and a healthy work ethic.
- Make it easy for them to pay you. Using an invoice solution such as the invoice24 app allows customers to pay you on the go using popular payments methods such as google pay or apple pay.
Of course, these aren’t guaranteed ways to get paid every time you invoice a client, and that isn’t the intended purpose of this article. But, it will most definitely help small businesses that offer this kind of service moving forward.
Getting paid for long-term projects or large-scale jobs
These kinds of jobs are different for a few reasons, the biggest being that you are usually paid the full amount at the end of a project. So how do you go about making sure you get the money from these time-heavy investments?
- Always get a deposit before the job starts. Do you know your client so well that you can possibly do weeks or months of work for them under just the promise of getting paid? If the answer is no, you need to make sure that you get a deposit. A deposit gives confidence that you will be paid in full and gives the client security that you will finish the project.
- Never price a job before the client does. Let the client make an offer first. They want you to make an offer so they can lower it. Instead, why not get them to make an offer so you can raise it. You can find more information on quotes vs. estimates in our blog.
- Make sure the client knows the plan in detail before they pay. Ensure the client is aware of any potential hiccups and has agreed to the terms of what happens in those cases. Surprise payments can break business relationships easily.
- Keep in contact during the entire contract period. Be certain that you have a reliable contact method. Keeping your client up to date with your progress ensures a healthy working relationship.