Freshbooks has just done an interesting post on The Best Invoice Payment Terms.

Freshbooks has just done an interesting post on The Best Invoice Payment Terms. Based on all the data they have they can tell you that using the exact words ’21 days’ means you’re going to get paid faster. Charging interest on late payments means you’re going to get paid faster.

But the fatal flaw in all their data is that so many of the businesses have a broken idea of payment terms from the outset. They start from the assumption that they should be getting paid some time after the service is performed.

You deserve to be paid up front

You don’t deserve to get paid 21 days after your work or 30 days or 5 days or…whatever days after. You deserve to get paid up front for the work you’re doing.

For years I invoice all my work up front 100%. When I’m working I’ve already been paid for the work I’m doing. I invoice on Friday for the following Monday of work. If I’m not paid by Monday then I don’t work on Monday. The client still owes me for the week though since they booked it.

When I changed to this payment method 3 years ago, no one balked at all. They just started paying me on the terms my business operated under.

Time to ‘consultant up’

Stop thinking you’re not worth it. Start asking for payment up front on the work you’re doing. Don’t offer a discount on it, just use it as your billing method.

Drop the fear that you’re not worth it. You are!

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photo by: clement127 CC