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We’re in a recession. Cashflow is tight. So don’t let your invoices go unpaid another minute!
This is short, but sweet. In business, cashflow is king. Profit is great. Low-cost operational costs – cool. But without cashflow, you’re dead in the water…
Chasing invoices is the must-do activity if you’ve got debtors. The Time-Value of Money dictates that a dollar is worth more today than it is tomorrow, so the quicker you reign that cash in, the more valuable it is to you.
Get this – a few freelancers I know don’t even check that their clients received their invoice… they assume it.
So first, have you checked that your client did indeed receive your invoice? If not, check now!
If you do know they received it, ask for a status update on the payment.
The truth is, cashflow is tight for many businesses, and that includes your clients. The longer they can put off paying you, the more your dollar is worth to them! But if you’re owed the cash, then go get it.
You don’t need to be aggressive, but be assertive. Explain your situation firmly and get a date from your client when the payment will be made.