When you first started out as a freelancer, how did you decide to bill for your time? Since then, have you gone back and evaluated whether your billing strategy is working for your business? This week, we’re looking at different viewpoints about billing
and how other freelancers decided to bill for their time, to give you a better idea of what options are out there to consider.
Do you charge your clients for things like meetings, or hours spent on research? You may have written off this time as unbillable as a client wouldn’t be willing to pay for it, but
this blog post from Graphic Design Blender argues that as a freelancer, you probably can’t afford to ignore the time you spend on “other” tasks for clients. They suggest building this time into your hourly rate, to make sure that you’re paid for all
of your work.
Once you’ve completed the work, how quickly do you invoice your clients for payment? If you wait too long to send the invoice, you may risk not being paid promptly - regardless of your payment terms. If you want your clients to view paying you as a high priority, then it’s a good idea to show the same urgency when it comes to sending your invoice. Take advantage of the psychological effect of recency by sending your invoice as soon as you complete a project. Your client should know exactly what the invoice is for and, hopefully, will be more inclined to pay you on time.
Do you have your own philosophy when it comes to billing clients? Leave a comment or hit us up on twitter and let us know! Have a great weekend everybody!