You might have anxiety about that late payment conversation with your client, even if your agency depends on the cash flow. Therefore, getting paid on time means you cover your expenses without delays.ĭelayed payments from clients will push back your payroll and bill payments, which is not something you want to happen–you need to take care of your agency’s primary business needs. It should be clear that the running costs such as internet, office supplies, and payrolls won't cover themselves. We all expect to be paid promptly, but here are a few additional reasons why timely payment is vital for your business. Money coming through the door keeps your business running and growing, which is why it’s so important to get paid on time by your clients. Why It’s Important For Your Clients To Pay On TimeĪs an agency owner, you know that cash flow is king. In this post, we’ll outline unique strategies to trick clients into always paying on time. So, how do you resolve this situation when it arises? However, we don’t live in an ideal world, and eventually, a client will fail to pay. Ideally, every customer should pay their invoices on time. And clients rarely reward you with immediate payment after delivering great work.īut does that mean you should do nothing to get clients to pay on time? Nope–quite the contrary. While there are customers who have no issues paying on time, others choose to ignore your T&Cs (no matter how firm they are). What's worse is that most common ways to get clients to pay on time offer little help.

small businesses have net 30 payment terms a majority experience late payments well past the due date, with a quarter (25%) having to wait between 20-30 days past the payment due date.Įvery month you work your fingers to the bone, delivering results that clients benefit from practically immediately.Īnd then have to wait for weeks until your agency reaps the reward–hard-earned cash. A Businesswire survey found that most U.S.

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