Foundd knows money isn’t something to mess around with, so we’re offering up our 6 tips for getting paid as a freelancer to make sure you’re rocking both your business and your bank account.
Being a freelancer can be a blessing and a curse, at least in our opinion! Being able to work remotely and manage your own hours is a total gift, but when it comes to invoices, payment quotes and tracking money we know that it can be a pain in the arse, not to mention feel gross and uncomfortable when you have to stand your ground. Who likes to talk to clients about money? The answer is no one. If you do, well, you’re the odd person out and perhaps a bit of a nihilist. But hey, we don’t judge! For the rest of you freelancers who are kicking goals but just need a bit of a helping hand in the whole getting paid department, check out Foundd’s 6 tips for getting paid as a freelancer.
Number 1 | Invoice Right Away
Don’t procrastinate, people. You want to show your clients that you are professional, on top of your business and not one to be taken advantage of. If you find yourself slacking in the invoicing department because it takes too long or it’s boring (we know it is - invoicing sucks) and you’d rather be doing anything else, a client may sense that they can be a little lax on their end. The more on top of it you can be, the clearer picture you paint that you mean business.
Number 2 | 7-14 Days Max
Don’t drag it out, whatever you do. Give your clients a deadline and stick to it. Your talent and expertise is valuable and you should be acknowledged as a business professional. No respectable business owner should be wasting your time (or their own) by not staying on top of payments. The last thing you want is to give a client 30 days to pay. We all have bills that sneak up on us and being tight on cash at any time is just the worse. So don’t do it to yourself. Get paid in 7-14 days max. No monkey business!
Number 3 | Early Bird It
We all know the saying. The early bird gets the discounted rate. Or something like that. In all seriousness, why not make early payments a bit of a bonus for your clients? Incentive is one of our favourite words. Why not offer a 2.5-5% discount to any client that pays you early and/or on time? I mean, who doesn’t like a discount? We sure do.
Number 4 | Easy Does It
Paying invoices and bills is lame. It feels like such a waste of time that you could be using watching the end of the latest episode of Neighbours. Or pouring yourself another glass of wine. You get it. So why not make it easy for your clients? Set up quick and easy payment options with credit card or PayPal links to your Xero or Wave accounts. All it takes then is the click of a button! They (and you) will be back into Neighbours with your vino and wondering whatever happened to Charlene before you know it. Cha-ching!
Number 5 | Get A Deposit
Asking for 50% upfront before the work begins is smart. It isn’t asking for too much and it isn’t arrogant. It sets the bar from the word go and lets the client know you aren’t messing around and that you mean business. Another little bonus? You can use the deposit as a way to secure their start date. If they give you money up front, they sure won’t faff around and drag their heels for the job to begin!
Number 6 | Hold ‘Em Close
Hold those cards, or in this case your work, close to your chest until you get paid, baby! Don’t create any scenario where you could get taken advantage of and stand your ground maintaining content ownership until they’re ready to pay you for your time and effort. If you don’t see the cash, don’t share the work. It’s as simple as that.
Friends, you’ve totally got this. Getting paid what you’re worth and getting paid on time is easily in your grasp. After working with so many creatives and entrepreneurs we get how difficult talking money can be, but we’re here to help you stay grounded and on track. If you’re ready to add these 6 tips to your client onboarding process then check out our easy-to-use, fill-in-the-blank Service Agreement Template. We can help you get these tips (and much more) into your contract so there is no messing around. Be a boss with your business and with your money. You’ve got this.
Want to know what else you might need? Book in a 15-minute consult with one of our creative-loving lawyers, and let us give you the lowdown on all things legally legit.
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