How to Get Paid

Posted on November 28, 2013 in Business Transactions

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We entrepreneurs have certainly faced kinder, gentler economic climates in our day. Cash–and cash flow–are king (or queen–choose the sovereign of your choice).

Here are some of the top tips offered by Mike McDerment, founder and CEO of FreshBooks, an online invoicing and time-tracking service:

  1. Bill clients early.
  2. Make bill-paying simple.
  3. Request partial payments earlier in the project.
  4. Use online recurring invoices.
  5. Create a system for automatic late-payment reminders.
  6. Keep employee morale up.

Finally, a favorite tip of mine: Have a written agreement outlining your payment terms.

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