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How Should Contractors Bill Clients
Manage episode 410376000 series 3558648
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"You really can show your clients your desperation by your attitude.”
Key Moments
00:00 Current Trends in Business Billing
05:21 Contractor Trust and Prepayment
08:27 importance of Clear Payment Terms and Communication
09:57 Effective Communication with Late Payers
12:31 Importance of Professionalism in Billing
Connect with Will:
Book I Can’t Read: A Guide to Success Through Failure
Email: Will@willtalksbiz.com
LinkedIn: https://www.linkedin.com/william-manzanares
How Should Contractors Bill Clients
Setting up billing structures and clearly outlining payment terms in contracts can help avoid confusion or disputes down the line. If you have a business model like mine that relies on retail and speaker fees, take time to learn about different billing methods. As an experienced contractor, Cassie has spent time learning about methods to bills clients, particularly using platforms like Stripe for invoicing. It's not just about getting paid, but how you approach billing that matters.
Asking for upfront payments from clients is not uncommon. However, there are potential challenges associated with it. When contractors asking for significant upfront payments it impacts the trust being built with clients. Business owners should work on striking a balance between addressing financial security concerns and maintaining a client-friendly approach to payments.
Once you set up your system, communication is a key aspect of billing and client interactions. Maintain open and transparent communication throughout the billing process, especially when following up on late payments. Over-communicating about payment structures and potential late fees is a way to ensure clarity. When the inevitable late payment happens, try to approach them with grace and understanding.
We cannot stress enough the significance of transparency, communication, and understanding in the contractor-client billing relationship. Make sure to listen to the full episode for more on navigating the nuances of billing clients effectively.
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