It’s 2017 and change is in the air!
First on the list of improvements at Mailpop is a switch from 30 day payment terms to 15 day payment terms (I think the hoity toity way of putting it is “$(amount owed) net 15”.)
Changing the payment due term from 30 days to 15 days is beneficial both for my clients and myself. Obviously, every business has expenses, and that applies to a business operated by a freelancer as well. Therefore, being paid for work within 15 days allows me to pay my own monthly operating expenses without delay.
It’s also a huge bonus for clients. The 15 day payment term will help them keep up-to-date with their invoices and working within an allotted budget. It also keeps ‘project’ and ‘payment’ close enough together that they can remember what they’re paying for, while still giving them enough time to ‘process’ payment through whatever departments or individuals are involved.
Of course, any invoice can be paid upon receipt, but invoices usually stipulate a reasonable amount of time in which payment is due, after which time interest will accumulate. Sometimes it’s human nature to translate “due within 30 days” to “in 30 days I have to think about paying this.” Changing to a 15 day payment term is not only reasonable, it will facilitate a smooth work/payment flow. Generally speaking, a client that has two invoices outstanding would have to forward payment before a new project can be started.
I’ve had the opportunity to work with some great clients and so I can confidently say that failure to pay the occasional invoice on time is not an indicator of their true character. Sometimes things get in the way. Changes in staff, urgent business matters, even holidays.
However, clients who habitually pay their invoices AFTER the due date may have some underlying issues that need to be resolved before going any further.
Ultimately, clients who pay their invoices on time show respect for my work and therefore earn my respect. I look forward to continuing our professional relationship through 2017!