If you are a freelancer, than you have probably met your share of other businesses trying to hire you, but payment always seems so complicated and frustrating. The prevailing myth is that payment out of all of the areas associated with being a freelancer is the most difficult.
Freelancers can do away or bust the payment myth by doing the following four things to make sure that they have a hassle free payment process.
- Ask for a retainer. Many potential employers get insulted by this. It is a natural a occurrence. A freelancer is another business, a retainer indicates a sincere desire to do business. Use the pay in thirds method which is asking for a retainer, a payment when you reach a negotiated milestone, and a last third payment payable upon completion. Another good method payment is the half payment method which is accepting half of the total cost at the start of a project, and the last half payable upon completion of the project.
- Define clear expectations. In agreements remember to define your terms for milestones in a project and if you add interest fees for late payments.
- Create office templates. By making the templates it makes it easier to send out letters, invoices, and such leaving more time to personalize the letters to the client. You may explore online solutions for your office documents as well.
- Diversify payment options. Accept credit card, money order, check and payment services such as Pay Pal. This way you have a way of tracking money paid to you.
This article was written by Malka Maxwell, © 2010. It is for your reading enjoyment. If you are interested in using any of the articles on my site, please feel free to contact me.