The modern-day is a time where we need to be more creative and entrepreneurial to get paid for our work. Gone are the days of working for one company your entire life and retiring with a pension. The world has changed, and so have the ways that we get paid for our work. In this blog post, you’ll learn some tips on how not just to survive but thrive in the modern day!
Clearly Lay Out Your Pricing
One of the most important things you can do to get paid for your work in the modern day is to be clear and concise about your pricing. Don’t undersell yourself or overprice your services; find a happy medium that works for both you and your client. Disputes over invoices can often lead to slow payments from clients.
Offer Multiple Payment Options
Another way to ensure that you get paid for your work promptly is to offer multiple payment options. This could include PayPal, bank transfers, or even BitCoin. It’s important to research the different payment options available and find one that best suits your needs. If you’re selling a product, you can consider using a point of sale system; here is some information on how to choose a POS system. You can also consider adding multiple payment gateways on your website if you’re selling products or services online.
Review Your Pricing Annually
As with anything in life, it’s essential to review your pricing annually and make sure that it still aligns with the work that you’re doing. The market is constantly changing, so it’s crucial to stay up-to-date on what other professionals charge for their services. You don’t want to be caught underselling yourself or overcharging your clients.
Keep Your Financial Records in Order
One of the most important things you can do to get paid for your work on time is to keep your financial records in order. This means keeping track of all expenses and invoices, as well as making sure that your payments are up-to-date. By doing this, you’ll be able to quickly and easily provide your clients with any information they need to make a timely payment.
Additionally, keeping records of your financials helps ensure that you’re tax compliant. Make sure to consult with an accountant or bookkeeper to ensure that you’re taking all the necessary steps to stay tax compliant. Keeping your taxes up to date also might mean that you can expect some money back on your tax returns, so there’s a silver lining.
Give Yourself a Buffer
Another way to ensure that you get paid for your work in the modern day is by giving yourself a buffer. This means not waiting until the last minute to invoice your clients; instead, give yourself enough time so you aren’t rushing at the end of each month to meet deadlines and avoid late fees or payment disputes. If you’re a freelancer, consider giving yourself more time between invoicing your clients. If you have a business partner, make sure that they know how to invoice and keep track of expenses as well!
In conclusion, there are several things that you can do to get paid for your work in the modern day. By following these tips, you’ll be able to streamline the payment process and avoid any late payments or disputes. Stay organized and keep on top of your finances, and you’ll be well on your way to getting paid what you’re worth!