be. Digitizing your invoices saves your customers time. They won’t have to spend minutes in front of the scanner every time you send an invoice. Customers especially love paying their bills electronically. If you include an online option, you’ll make your customer happy. All the while, you won’t have to wait for checks in the mail, eliminating one more potential obstacle to payment. Send your invoices as quickly as you can. As Invoice2Go CEO Greg Waldorf writes, “When they invoice immediately, business pros get paid an average of seven days faster.” Don’t give customers a chance to forget they owe you. Sending an invoice when your work is still fresh in your customer’s mind can have dramatic results. According to Entrepreneur contributor John Rampton, sending out an invoice the day a job is completed makes you “almost 1-1/2 times more likely to get paid.” Reward customers who pay early. If you want your clients to pay ASAP, you can implement a system that takes a certain percentage off the bill when they pay within three days of receiving an invoice. Instead of cringing at their lost funds, customers will see that paying you quickly actually saves them money.
Cash is king when it comes to the longevity of your business. Deadbeat clients can spell death for a budding company, and they do so more often than you would think. It may not sound like fun, but ironing out the wrinkles in your payment process can save you a massive headache down the road. Here are a few ways to make sure the cash comes in on time. The shorter and more concise your payment terms are, the better. For every client you work with, you need a signed contract in place — one that leaves zero room for confusion or misinterpretation. If you’re having cash-flow issues, consider shrinking the payment window. If a customer has 30 days to pay you, they’ll likely wait until the final week to send the check. It’s important that you’re reasonable with your payment terms, but keep in mind that most customers will wait until that last-minute deadline. Go digital. Most businesses work almost solely within the digital realm, and in order to maximize your payments, you must follow suit — no matter how much of a Luddite you may
Get Paid HELP YOUR CLIENTS COUGH UP THE CASH
INGENIOUS WAY TO CUT DOWN ON NO-SHOWS ...continued from back page
In other words, it’s the kind of tactic Han Solo from “Star Wars” would use. Do you want to learn what this strategy is? And how an attorney client of ours used it to add $74,000 of revenue to his practice over six months and achieve a coveted 10.0 Avvo rating? And how you can use it to cut down on flakes and no-shows?
The best part about this strategy?
It is, in a sense, a “take-away close.”
It doesn’t involve begging, chasing up, or trying to convince a potential that you’re worthy of their time. It lets them do all the chasing, in a way that frames you as the authority and the prize — the one who’s throwing them a bone.
Then you need to request a complimentary copy of my new “Attorney Authority Reboot” book here:
speakeasy.marketing/Book
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