Are you facing late payments from clients, and getting that panicked feeling about having to chase them up? I get it - and I know so many other business owners do too. In an earlier episode, I took you through my exact process for timely payments. Today, I’m diving a little deeper to discuss the power of personalised reminders and guiding you through the process to get paid quicker.
The first step in creating an effective reminder system is to turn on automated reminders in your accounting software. In this episode, we focus on Xero, but you can adapt these strategies to your own software. Once you've enabled the automated reminders, you need to determine how many reminders to send and how often.
While automated email reminders are extremely effective, generic templates won't grab your clients' attention. Personalising your reminders is a much better way to get them noticed, and I share an example of my own personalised reminder to show how you can infuse your personality and tone.
So, you’ve turned on automated reminders, and you’re feeling great about it. However, this is only half the battle. Often, we forget to actually receipt the payments that come through. This can result in unnecessary reminders being sent to clients and potentially awkward situations! To avoid this, stay on top of your receipting or take advantage of integrated payment options like Pinch or Paypal.
Finally, if you still haven’t received a payment after two reminders, I encourage you to jump on a phone call and check in with your client or customer. Perhaps your emails never reached them, or they’re facing a personal issue that has prevented them from making payment. It’s likely they’re more stressed about the situation than you are about calling them.
So, be calm, kind, and know that the more streamlined your invoice process is, the easier it will be to get to the bottom of any payment issue you may face.
LINKS
Previous episode mentioned: My Exact Process for Timely Payments
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Website: https://accountedforyou.com.au/
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