One of the crappiest stuff that can happen to you in your VA clients are to wait patiently for somebody to pay you.
There really isn’ good way to describe it. I hope you don’t mind!
It causes you stress, worry, anger, upset and a number of other emotions.
You might be also ashamed by it. How may you allow it to happen? Particularly if the client hasn’t paid you for some months and you are still doing their work.
Let me tell you something – many of us have been there.I understand I have.I’ve chased money, and continued to operate because the balance owed increased. Ugh. What an awful feeling.What exactly is the next step about this?You need to stop it.
It’s as simple (so that as very complex) as that.Whenever you allow a client to obstruct your payment for work already done, you’re teaching them that it’s okay to treat you want that.
When you continue doing tasks for them even though they haven’t paid you for that previous month, you are telling them this is definitely an okay thing to do.
Even though inside your heart and your head you realize it’s NOT.
So unfortunately you have to stop it. Like NOW.
If a client owes you money, cease working for them until their outstanding balance pays up. Tell them no more work until you receive money.
If a client consistently pays you late every month, then you’ve to find a way to possess a conversation with them so they pay you on time, whenever you expect it (what are you payment terms? Mine are ‘upon receipt’, not Fourteen days later!)
Doing this requires a phone call using the client. A simple payment reminder can be sent via email however when it is going past that, you’re ready to jump on the telephone.Generate a time for you to call them (or simply call all of them if that’s easier) and let them know your terms.When they explain that they don’t have the money, cease work immediately. You aren’t running a business to fund their business.
Consider also having your clients prepay for dealing with you (on retainer, or simply a block of hours that they then consume when needed, whatever works for you).
Even McDonald’s enables you to invest in your Big Mac before they provide it for you. This isn’t an overseas business idea.
To run an effective business you need to behave like the CEO, and that means holding your clients towards the relation to their agreements. Payment for work. This is the deal.
So… take a deep breath, and make a decision how to place your business first. Contact the client, and get your money.After which HOLD those boundaries for each and every new client you cause (as well as the existing ones)… and you will be a significantly happier (and wealthier!) business proprietor.