If you’re like many out there, your parents may have told you that it is not polite to talk about money! As a freelancer, that really does you a disservice. If talking about your pricing and reminding clients about payments fills you with fear, try these tips to feel more confident discussing financial topics and get payments more easily.
Put Aside Emotions and Get What You Need
You’re a freelancer. You are providing a service in exchange for money. You need to be able to talk about the financial side of things. It may feel awkward at first, but there are ways you can prepare for the conversation.
Beforehand, think about what you need to get from the conversation. Do you need a client to send a late payment, a new client to sign the contract and agree to the price or to add a service with a pre-existing client?
Focus on the goal and put your emotions to the side for the duration of the conversation. Be direct and ask for exactly what you want — it’s the only way to get it!
Dealing With Late Payments
It is a rite of passage for every freelancer to deal with a client who doesn’t pay their invoice on time. It’s easy to get upset about it, but when dealing with clients it’s important to remain level headed.
If the idea of sending a polite payment reminder via e-mail to refresh your client’s memory of the payment amount, due date and any contractual obligations makes you want to run the other direction, you’re in luck. Cogni can help!
The app makes it painless and simple to remind your clients of their obligations by sending automated payment reminders, which may be enough to get a delinquent client to do their due diligence.
This modern age has made everything easier. That includes automation of invoicing and payments for freelancers. Services like Square, Venmo and PayPal allow anyone to take credit cards and online payments.
Online accounting services can help you to keep track of invoices and take payments without any intervention on your end. Cogni allows you to send beautifully designed invoices to your clients. No more fiddling with spreadsheet formatting or making complex formulas to get the right outcome on your invoice. Clients can easily pay these invoices right into your Cogni account, which is FDIC insured just like any bank account.
Get Payment Up Front
If you don’t even want to deal with the possibility of late payments, you can always move to an up-front payment model. For some, this means that the client will pay you the full service fee before you even start the project. For many, this works well. But for some clients, it’s a bit extreme. Because of that, some freelancers work on a deposit system. You can take a certain percentage of payment up front and then request the rest upon delivery. This strikes a balance for both your business and the client’s needs. Make sure that any payment terms are clearly spelled out in a contract or agreement.
Getting paid as a freelancer doesn’t have to be hard or confusing when you use a combination of direct communication and an arsenal of modern technological tools, including the Cogni app.