Get Paid!
CASH is the LIFEBLOOD of a BUSINESS.
We must keep it coming in as quickly and regularly as possible. That is why I believe getting paid is a #1 priority in business
Cash supports you in doing THE WORK you are in business to do.
Having enough cash in the bank DECREASES STRESS, which allows for increased CREATIVITY.
It is also GOOD for your CUSTOMERS. Let me tell you more about this.
When your customers can pay you in a way that is clearly defined, they feel safe.
Let’s look at this from our customer’s point of view.
When I buy something, I want to know:
How much it costs
How to pay for it
When the money is due
Your customers trust you as a professional—the policies in your business mirror how your customers will expect you to deliver.
If you don’t ask for a payment, leave it hanging around as a loose end, or make it difficult, they will not trust that you can deliver on your customer promise.
I’ve talked to entrepreneurs who tell me they are terrible at getting paid and don’t have a system for collecting money. They scramble around to collect it when they need to pay their bills.
Don’t do that to your customers or your business.
We take care of our business by getting money in the door ASAP, and we take care of our customers by allowing them to pay us easily and hopefully up front.
Here are some ideas to improve in this area:
Action steps
Take a look at your process for getting paid and see if improvements can be made. Systematize and automate as much as possible.
See if you can price and get paid up-front so payment can be taken care of and the focus can be on the work, not money.
Set up recurring payments that happen automatically if you work with your customers on a recurring basis.
Add additional payment methods giving your customers more options for how to pay you.
Add a way for your customers to pay you via your website.
Define and document payment policies, even if only to remind yourself of how you do things.
Create a system for following up on past due amounts and add this regular activity to your calendar.
Do some writing or work with a coach around this topic if receiving money is hard for you.
I hope these ideas are helpful!
Now let’s get paid!