Quick Win: Carol Bush Offers Tips to Streamline Getting Paid
The Savvy Scribe Carol Bush offers 3 simple actions you can take to streamline getting paid so your business can grow and you can pay your bills
Janet: 00:02 Start Your engines and get ready to power up for a Quick Win from The Savvy Scribe team, Carol Bush and Janine Kelbach are here to take your freelance healthcare writing business to the next level with this powerful Quick Win on The Savvy Scribe podcast.
Janine: 00:19 As, Freelancers, we’re always struggling with why we’re doing our jobs. We’re doing them because we love it, right? But it’s a job and we need to get paid! Today in this Quick Win, Carol is talking all about getting paid and how to make it so it’s a win-win for both parties. Take it away, Carol.
Carol: 00:39 Your business can only run smoothly when you’re getting paid and cash is flowing in and out. Unfortunately, in the real world of healthcare freelancing unless we set ourselves up for success, getting paid can be a real challenge. Wouldn’t it be nice to avoid all of this to get the money that we’re owed without all of the fuss and hair pulling? Exactly. Hi, this is Carol Bush co-host of The Savvy Scribe podcast, and in today’s Quick Win, I’d like to share three simple actions you can take this week to streamline the process of getting paid so your business can grow and you can pay your bills. Let’s get started.
Carol: 01:20 One, contracts are vital. Let’s face it guys, if you don’t have a contract in place, you don’t really have a leg to stand on. When a client ditches you. You can yell at them until you’re blue in the face, but if there’s nothing legal there, you can’t really see compensation when they’re late or even if they disappear.
Carol: 01:41 What’s that? Are you a freelancer without a contract? That’s okay. You’re not alone. A very interesting and actually also tragic fact from a recent Freelancers Union study, which is called Freelancing in America reported that nearly 70 percent of freelancers have struggled to collect payment for work they accomplished, and another staggering fact from that same study really has me feeling pain. Less than 20 percent of freelancers report using a contract to protect their rights. So let’s Contract Up, People!. There are plenty of free or low-cost resources out there guys, and in our show notes, we’ll share some of our favorite links. Here’s something to keep in mind about contracts. A contract actually protects both parties. It not only aids in efficient payment, but it’s also a great tool to detail as the scope of work and project deliverables, so here’s a success tip. Be as specific as possible with every detail within the scope of work, especially when it comes to getting paid. [RESOURCE POST – 5 Steps to a Better Freelance Contract]
Carol: 02:55 Also a great success tip: In the Scope of Work, make sure that you detail what success looks like; Including when and how you’re going to receive money.
New Speaker: 03:07 Here’s another tip. Make sure to detail payment terms and timing. For example, what form of payment are you going to accept and what are the consequences for late or nonpayment to accept multiple forms of payment? How many times have you heard, do you take so and so as payment? I’m going to have to figure that out later. If your client pays all of their bills in a certain way, say via their business card, you don’t want to be the squeaky wheel who demands that they go out of their way to pay you via another method. So folks, while you may already take Pay Pal, some clients won’t have that option and would like to pay you with a credit card directly.
Carol: 03:55 Plus the great thing is once you open this option, you can take on other clients who would like to pay with credit card, too! Your accounting software or invoicing system should have the ability for you to make this option live. The great news is it will broaden your horizons and help you get paid faster and who doesn’t like speedy payment?
Carol: 04:18 What’s that? You say you don’t have accounting software? As CEO of your own business, it’s time to get out of spreadsheet land into using a useful tool. Yes….again, in the show notes, check it out….We’ll share a few of our favorite links to low and no-cost resources for accounting systems that you can check out. So #SavvyScribes, don’t put it off. Start today. [RESOURCE LINKS] – Accounting software we’ve used and love: Freshbooks, Wave – (Its FREE!), Quickbooks. Check out the marrvy invoicing and proposal resources over at ANDCO, too!
Carol: 04:48 Number three, require a deposit at contract signing. You want to get paid and the client wants their work completed on target and on time. How do you ensure everybody walks away happy? Requiring a deposit before you start. The work really ensures that everyone is actively invested in this great business relationship, and let’s be frank for a moment. Doesn’t this also give you more of an incentive to finish the work the best you can so that you can get the rest of the payment? Sometimes that can be a key motivator. Deposits can be a win-win, so both parties leave happy.
Carol: 05:29 There’s something to be said about the power of community. If you’re in business by yourself, sometimes it can feel like you’re on your own with no help at all. The truth is Savvy Scribes, that you have other people around you like us, members of the Healthcare Marketing Network who are passionate about supporting your success.
Carol: 05:51 So here are some thoughts about getting paid I have for you today. I’d like for you to think about these things: What safeguards do you have in place to ensure you always get paid? And second, do you have a strategy that you’ve employed to improve your cash flow? We’d love to hear about it. If so, we’d like for you to share that story.
What I’d like for you to do is take some action, take a moment now and head on over to Healthcare Marketing Network.com and leave us a message. Take a few moments to share a tip or strategy that you have employed for getting paid faster. It will help you and help others as well. We’d love to feature your story on a future episode of The Savvy Scribe.
Now take this Quick Win and Go! Get your Write On! #amwritinghealthcare #GoGetYourWriteOn
Healthcare Marketing Network Partner & Managing Editor. Co-host of #TheSavvyScribePodcast. I connect healthcare businesses to health writers who create factual, engaging articles for websites. I mentor high performing freelance health writers, helping them focus on growth and making profitable deals. #amwritinghealthcare