Payment Points

As we enter the New Year, there are many ways you can further define your payment approach with clients. Dogs keep trying to get food or your attention until something finally works and they achieve their desired outcome, treats or pets. The same methodology can be applied as a sole proprietor or small business owner.

Always remember, keeping payment requests as professional as possible is the desired approach. We have learned much in the past 6 years. Do not include an invoice for work being submitted. A research report, for example, should not include an attachment for payment for that report. Invoices should always be their own email. They should be properly identified with a reference to the invoice number and title. This way the client knows exactly what is being communicated by this email - pay me for work finished - but in a much more professional manner.

You may wish to choose to send invoices only monthly but we have found the best approach for us is to bill upon completion. Otherwise, particularly if you have one major client, the wait can be too long, the invoice can be too long, and frustration may build on both sides. Gauge your situation appropriately. But, if a client amounts for more than fifty percent of your monthly income, have a conversation upfront with them and advise them you need to bill upon completion. They may or may not understand but likely will appreciate your candor and job situation.

Timing is a key component here as well. Do not send invoices over the weekend or at night. Disturbing anyone in their private time with a bill is never received well. Utilize the email distribution timing option on your email. You can compose the invoice any time you wish. Just set it to be delivered the chosen date at 8 AM or 9 AM. At a minimum, it needs to be within the standard 8 - 5 workday that most firms still abide by, regardless of in person or remote job settings.

You may also wish to mark the invoice email with Read notification and/or an Open Notification. Be aware that often the receiver of such an email can identify that the sender is request a Read/Open receipt. We are aware of at least one client who is annoyed by the tracing and, often, will not open them. Personal preference, feel out your client’s preferences early on, to avoide annoying the person who holds your payment in their hands.

It’s a new year, a fresh approach could jump start your business payments. As with treats, payments are always well received.

Be well.