How to Ensure You Get Paid On Time, Everytime
December 17, 2015
December 17, 2015
Getting paid on time most of times might be even tougher for the new freelancers. If you’re not much known, or have no good credibility as a reputed freelancer, you might have to experience some hassles to get paid on time. This is why cash flow management can become a serious issue when you first start your freelancing career.
However, you’ll gradually get to know how to complete all projects successfully, solve issues with clients and make sure payments are cleared on time. In the beginning, it will be difficult for you to understand what type of circumstances can delay the payments.
But, as you start to get more exposure, you will learn how to manage such situations and how to avoid occurrence of events, which can unnecessary delay the payment cycle. Here are few tips on how to ensure you get paid on time, everytime –
Don’t Commit to Work Without Advance Payment
If you’re very new to freelancing, or you’re working with a new client, make sure that you are paid for your project in advance. If your project and the payment is too large, then divide the payment in 3 or 4 equal parts.
What’s more important that you talk to client and mutually agree on the payment term. This is very important. If you talk about this clearly and make sure client agrees to it before you start working on the project, it will save both of yours and client’s time. One rule to get paid on time is transparency.
You must explain to the client what you’re going to deliver. If you think the price paid is inappropriate given the work expected from you, talk about this to the clients and ward off any chances of misunderstanding. This will also ensure that the client will releases the payment quickly without any dispute.
Be Little Flexible Regarding Payment
You’ll have to be a little flexible regarding the payment mode. If the client prefers to pay you through wire transfer, as it helps the client save time, that should not be any problem. Only thing you should make sure that the client pays you in advance even if he/she prefers to pay in your bank account online.
Also, you might have to be little considerate regarding the freelancing price you decide. Sometimes, try to reduce the price a bit if the client offers you a very large project. This will also help the client make you pay fast.
Earn Your Reputation to Ensure On Time Payment
When you first start as a freelancer, you should be thinking about building reputation. Don’t be too rigid about the price at this time. Be little flexible to charge a bit lower than the peers. This is the time when you’ve to work hard to prove your expertise.
And once you have a great portfolio to show to the client, you can then start charging what you deserve. This will also ensure that the client pays you on time.
Choose Who to Work With Carefully
Some clients may have a natural tendency to delay the payments of the contractors. This is why it’s very important that you choose to work with a client with a good reputation. This is not where you should worry about whether you’re new as a professional or not.
Make sure you study the client’s reputation as well before you start working with. It will reduce the scope of problems and ensure you get paid on time most of the times.