As a social media strategist, a lot f the jobs that I do is on a contract basis. This means that I need to ensure that I protect myself financially and get paid on time. In the past few months, I have enforced a few things that has made getting paid on time a lot easier. In this post, I will be sharing 5 of these tips;
- Have a contract: Like I said in the YouTube video on this same topic, I have a post that addressed this. It is the 3 things that creativepreneur should do before they start a job. If you haven’t read it yet, please do so.
- Charge a late payment fee: I charge N2000 for now. This is after a grace period of 5 to 7 working days. If a client does raise an eye brow at this, that is already a red flag and you should run.
- Request a deposit: This makes it a near win situation for you as you must have secured at least some part of the money. For social media management, I charge 30 to 70% upfront depending on the amount of work that needs to be done. For consulting, I charge the full price but should you require another service related to the consulting, I deduct what you have already paid.
- Issue an invoice: I know you sent a contract that was signed but this reiterates the money part.
- Automate payment reminders: This is the most important step to get paid on time, With waveapps, you can automate payment reminders. Do not over do this but ensure there is a reminder that payment is almost due and another reminder when payment is due. If payment has not been made, send a late payment reminder.
In my YouTube video, I spoke more on this. You can watch that below;