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Update: landed a $2,400 job in Denver and got paid in 3 days using a 15% late fee note
Back in March I started adding one line to the bottom of every quote: invoices go up 15% if not paid inside 10 days. I figured nobody would care, but a shop in Denver signed anyway and actually paid me in 3 days flat. The funny part is I never charge the fee, just having it written down seems to do the work for me. Anyone else try a late fee clause and have it backfire, or does it keep working once people catch on?
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jesse_smith103d ago
I used to roll my eyes at stuff like this, figured a late fee note just made you look greedy and scared off the good clients. Then a buddy talked me into trying it on a couple small jobs and it was like flipping a switch. People who were sitting on my invoice for three weeks suddenly paid in a week, and not one of them ever got hit with the fee either. I still don't fully get why it works, maybe it just puts you higher on the pile of bills they actually care about. So yeah, I was wrong about it, and your Denver story tracks with what I've seen.
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