Did you know that more than 59 million Americans work as a freelancer? From developers to artists, photographers to marketing professionals, the freelance market is growing fast.
Are you interested in becoming a freelancer? Do you want to be your own boss, work where you want, when you want, and how you want? The freelance life is one of increased freedom and flexibility.
But it isn’t without its challenges. And one of the biggest challenges that most freelancers face? Getting paid.
Learning how to bill a client, and how to get the client to pay quickly is crucial to managing your monthly cash flow as a freelancer.
So what does billing a client entail, and how can you bill your clients in a way that encourages swift payments? Keep reading below to find that magic formula.
- Choose the Billing Method
The first step when learning how to bill a client is deciding your billing method. Freelancers most often bill either by the number of hours worked or by the project as a whole.
If you go with the hourly approach, you’ll need to be diligent in tracking the time spent on the project. You can use time tracking software on your computer to automate the process.
Experienced freelancers usually prefer to bill per project. That way, if they are disciplined and finish the project sooner than anticipated, they still earn the same amount of money.
- Create an Invoice
To get a client to pay you for your service, you need to know how to prepare an invoice. It’s only hard the first time. Once you know what you’re doing, it shouldn’t take more than a minute or two to generate a new invoice.
You can find free invoice templates here. You’ll want to customize it to fit your business by adding your name logo, and personal information. Once you have a custom template, all you have to do is open it up and fill in the information for each new project or client in the future.
The most important information is the invoice number, description of services, and the amount to be paid. Here is where you’ll specify how the client should pay and how long they have to pay.
- Choose Easy Payment Methods
Sending invoices to a client won’t work well if it’s hard to submit payment. If you want a check or bank deposit, good luck.
Your clients want to pay with a credit card or Paypal (most of the time) so make this an option. Yes, you’ll have to pay processing fees to accept the funds this way, but you’ll get paid much sooner.
- Follow Up
If you find a client that pays you after sending the first invoice, you’ve found a golden client. Stick with them forever.
Most of the time, you’ll need to follow up. Make it a weekly habit to check in with clients and remind them to pay.
How to Bill a Client for Freelance Success
Now that you know how to bill a client, you’re one step closer to building your freelance career of freedom and flexibility. Other than your profession of choice, the most important thing you can learn how to do as a freelancer is how to bill clients and get paid.
Looking for more tips and tricks for freelance success? Visit our blog now to keep reading.