Pay it forward and pay it back

Pay it forward and pay it back

HOW TO…

How to pay and get paid

You’re a business owner – responsible for paying yourself, others, and the tax man.

Sounds straightforward, right? Hard no.

Getting a client or customer to pay you on time can be one of the toughest things ever. It’s something people get imposter syndrome over. How often should you follow up? Who should you ask? What if they pay too late? What if they never pay?

Before you turn to a dodgy debt collector, there are better ways to get your company paid. Ironically, many of them start with you and your internal practices.

Your clients’ businesses, big or small, probably started off with one to two people, like yours. But then they got bigger and busier, cash flow was healthy, and they started to pay for things whenever it was convenient. For them.

As companies grow, their leaders and their people no longer experience the anxiety of late payments, cash flow problems, or supplier relationship issues. 30 to 60 day payment terms? Fab. For them. There’s a perspective shift, away from you.

But remember we said that getting paid on time may actually start with you…? Here’s the thing: A culture of prompt payment works in two directions.

Start by paying your own suppliers on time

How to get paid on time, as the supplier

  1. Set clear payment terms (and boundaries!) with your customers.
  2. Try not to deliver a product or service before receiving a deposit.
  3. Automate and send regular reminders about outstanding invoices.
  4. Follow up, diplomatically, with late payers.
  5. Be prepared to nag people. Repeatedly.

Paying and getting paid on time is about ethics. But it’s also about good habits, being easy to work with and being a confident communicator.

Nifty tools and platforms

  • Online payment gateways like PayFast, PayPal and Stripe
  • E-commerce platforms like Shopify and WooCommerce
  • Accounting software like QuickBooks, Xero, Zoho Books and Wave

 

#nowyouknow

Want 360° event advice? Contact us for more.

EYES ON

Meet Kiruna, the star of the stage and screen

Kiruna-Lind Devar is a profoundly versatile performer, known for gracing both stage and screen with charisma and charm. Kiruna, who has starred in musicals including Sweet Charity, Snow White, and The Phantom of the Opera, has also released her own single, Truman Avenue, and is working on her EP.

As a Reiki practitioner, Kiruna believes in healing through art and energy, which is evident in her work. She draws inspiration from her mother, Brenda, who is also an actress and singer, and from jazz music, which has influenced and shaped her musical taste and style.

Kiruna began performing at a young age, appearing in school productions and local community theatre. In 2014, she made her professional debut in the lead role of Charity Hope Valentine in Sweet Charity. Her performance was praised by critics and audiences alike, which launched her career as a musical theatre star.

Here’s to having many more eyes on Kiruna!

BY THE WAY

London is a city of innovation and creativity, where art and technology come together. Our CEO and Creative Director, Megan Willson, recently spent time there and immersed herself in everything art.

From Frameless, a multi-sensory exhibition of masterpieces near Marble Arch, to stepping into Van Gogh’s paintings with a VR experience, London offers a variety of digital art installations to enjoy at the moment.

But not all of them are equally impressive. The ABBA Voyage Experience, which features holograms of the pop group, lacks the vitality and charm of live performances, says Megan. Mamma meh.

P.S.

When your customers are late with payments, perhaps consider it an opportunity to showcase your creativity. Send them a “gentle nudge” in the form of a meme. Nothing says “pay up” like a well-timed cat GIF. #sorrynotsorry #payup.

#nowyouknow

Want 360° event advice? Contact us for more.