Published On: Thu, Jun 9th, 2016

Small Business Owner? Freelancer? entrepreneur? Get Paid Faster with These Tips!

Ok, so cashflow is #bae. I didn't know that you could actually get paid faster if you need to. These are good tips to keep the books tight. I need to bill customers and make sure I keep getting paid ON TIME! #smallbusiness #freelancing #solopreneur #cashflow #money #gettingpaidPost sponsored by FreshBooks.com

If you are a small business owner or even a entrepreneur, then you can attest that cash flow and getting paid on time are of the utmost importance. If you aren’t an accounting whiz or a computer genius, you might be unsure about a software accounting solution that will work for you. I’ve had  many business models over the past 13 years and have tried many accounting solutions but there’s one that stands out as a winner if you are just starting out and just need to get paid- FreshBooks.

FreshBooks was life changing for me because I needed a way to quickly bill clients and offer a way to get paid right on the invoice. Yes, that’s right. For me, that made all the difference. If you are working with small businesses, many times the accounting person loves to whip out a credit card and handle the invoice right then and there.  FreshBooks has even negotiated a special rate with the payment processor, PayPal, they use to make payment on your invoices possible.  The FreshBooks special B2B rate only takes $.50 in  processing fees as opposed to the normal PayPal rate of 2.9% + $0.30 per transaction As your invoices grow, that can mean paying a huge chunk-o-change just for  processing fees. Thank goodness FreshBooks

In addition to adding payment processing directly to your invoice, there are a few other things you can do to speed up payment and improve your cashflow:

  • Offer discounts for invoices paid either upon receipt or within certain amount of days (choose an amount of time that would work best for your business.)
  • Let your client know upfront that you require payment upon invoice receipt, but will make it easier for them by offering payment options right on your invoice.
  • Negotiate a monthly retainer paid in advance so that you will have consistent, predictable cashflow. You’d be surprised at how many of your clients will find this arrangement convenient for them as well. There are no surprises as they can also anticipate their expenditures to predict cashflow on their end as well.

Ready to start getting paid faster? FreshBooks pricing is incredibly convenient and reasonable.

Click “Start My Risk Free Trial” to get going!

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Aja McClanahan

Aja “A.J.” McClanahan is a writer, speaker and entrepreneur.

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Source: Principles of Increase

Aja McClanahan

Certified Salesforce.com Developer, Writer & Udemy Instructor at Principles of Increase
CRM and database administration for sales & marketing organizations or departments. My clients have included mainly small businesses and non profit organizations.

Specialties: technology & sales consulting, CRM deployment, salesforce.com, content management, brand development, general sales & marketing, social media and interactive marketing.

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About the Author

- CRM and database administration for sales & marketing organizations or departments. My clients have included mainly small businesses and non profit organizations. Specialties: technology & sales consulting, CRM deployment, salesforce.com, content management, brand development, general sales & marketing, social media and interactive marketing.

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Did you know?

African Americans are significantly more likely to have some type of debt (94%) compared with the general population (82%). Credit card debt, student loan debt, and personal loans are all significantly higher in the African American community.

Source: Prudential’s 2013 "African American Financial Experience" study