Switched from net 30 to net 15 and it changed everything

Used to do net 30 terms for all my freelance graphic design clients because that's just what everyone did. After a client in Austin took 47 days to pay a $2,800 bill last November I decided to switch to net 15 for new contracts. Now I offer a 2% discount if they pay within 7 days too and my average payment time dropped to 11 days. Anyone else try shorter payment windows or do you think discounts are leaving money on the table?

3 comments

3 Comments

david_palmer6d ago

I switched to net 10 years ago and never looked back.

tessap976d ago

Does it really feel that much better after the switch?

miaprice6d ago

Whoa wait, net 10 years ago? That's like... before most people even knew what net was. I gotta ask, did your friends think you were crazy? I can barely get my brother to try a new toothpaste brand. But seriously, does the net really hold up that long? Like, no holes or sagging after all that time?