26
Found a trick that gets slow payers to send money within 24 hours
Had this one client in Dallas who was always 45-60 days late. Emails, calls, nothing worked. Then I tried sending a quick invoice through Square with a 2% discount if they paid within 5 days. They paid in 3 hours. Now I offer it to anyone who's been late more than once. Works about 70% of the time. Has anyone else tried early payment discounts?
3 comments
Log in to join the discussion
Log In3 Comments
black.oliver8d ago
Tried offering discounts once and the guy asked if he could get 3% off for paying in a year.
6
ruby_bell478d ago
black.oliver's client is funny but also kind of missing the point. The trick is really about timing and who you offer it to. I tried it with a guy who owed me $1,200 from a kitchen remodel and he just ignored it completely. So I switched to sending a reminder that says "if you pay within 3 days I'll knock off $50" and that got him to pay in 2 days. The people who ask for bigger discounts or joke about paying in a year are usually the ones who just won't pay no matter what. You gotta pick your battles and save the discount for the clients who are just slow not the ones who are totally avoiding you.
4
mason.drew8d ago
Ha, jokes on you I tried this with a plumber who owed me $400 and he just said "cool, I'll take the 2% off and pay you in 3 months anyway." Some people just don't work that way I guess.
3