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You might also look at offering 2/10 Net 30 terms. Which means if they pay within 10 days they get a 2% discount, otherwise they must pay the full amount at 30
by chiph 11y ago
You might also look at offering 2/10 Net 30 terms. Which means if they pay within 10 days they get a 2% discount, otherwise they must pay the full amount at 30 days.
They're motivated to pay early to take advantage of the discount, and you're willing to only take 98% because money now is better than money later.
- chrisbennet 11y agoYou need to make the incentive a lot bigger. Examples: - If your rate is $150hr for 10 day net. 30 day net is $200 hour. - If you are charging a $50K license fee if paid within 10 days, make it a $60K license fee if paid withing 30 days. Client: "Oh, but I don't think we can turn that around in 10 days" You: "I totally understand, I can work on retainer if that's easier."