Asking clients for payment is one of the most challenging tasks we solo practitioners face. Something about it feels like we’re being a slimy businessperson, or worse, like a greedy lawyer. And let’s not get started with those clients complaining when we ask them to pay!
Getting the payment in exchange for your service, time and knowledge shouldn’t be a burden to you and your firm. There are a few ways to make payments a breeze for both you and your clients, one of which is thru full payment. But not all clients can pay in full, so if you have to stick with payment plans, I suggest setting up automatic payment plans!
Setting Up Automatic Payment Plans: How it Works
You can organize your payments with automatic payment plans. You set up a specific date where the specified amount will automatically debit from the client’s account. All you have to do is to have your client sign a credit card authorization form, where it’s indicated how much will be charged and on what date. You can also set up the final payment in the system!
But if you haven’t started accepting credit cards yet in your firm, I encourage you to start NOW! Clients are now embracing the idea of a cashless transaction, so expect some of your clients to pay in credit cards. You can check out Stripe as an option for your credit card processing partner.
Here’s how it works. If a client agreed to pay you $5000 and he/she is set to do 10 payments of $500, you can set it to charge on a specific date of the month, say on the 15th. Then you set the end date so that after 10th payment, the client won’t get charged anymore.
See? It’s easy to set up!
How Automatic Payments can Secure Your Payments and Financial Success
You are sure to get paid.
Now that their payments are set to be charged automatically, you won’t need to worry about getting paid anymore!
It removes an unnecessary burden from your firm.
No need to chase clients with their payments, send them numerous messages, create lots of bills and invoices, and even threaten a client to pay.
Your finances are more organized.
With a uniform date set up, you can keep track of cash flowing in your firm. You can also keep tabs of the date(s) when you’ve received the payments.
It simplifies everything.
Unlike asking for payments for each client, automatic payment plans allow you to sit back, relax and wait for the date of the payment. And the simpler a process is, the more it’s attracting for clients to afford your service/s!
One easy setup, one big leap for your firm.
All those times you’ve spent worrying about how to get paid are now gone. You can now spend more time on growing your firm – taking care of business matters and even have time for yourself!
And it’s not just your firm that benefits from this. Your clients won’t need to worry anymore about forgetting the due date for their payment. No more bills piling up on their doorsteps either!
If you can believe it, I have even more resources and strategies to share on this topic! If you’d like to learn more about automatic payment plans, sign up for my Six Figure Solo program! Six Figure Solo now comes in three tiers – Executive, Solopreneur, and CEO. Sign up here!