Self-employment is a rising trend in the global workforce.
More and more people are choosing to become their own bosses either because they want increased flexibility or because they firmly believe it is the best option for their skills and abilities. Being an solopreneur does have its perks, but the limited income can stop you from reaching your financial goals — particularly in the beginning.
Barron’s Mailbag June 1962: Irving Kahn On False Comparisons
The following letter from Irving Kahn appeared in the June 25, 1962, issue of Barron’s. Irving Kahn wrote to Barron's criticising the publication’s comparison of the 1962 market crash to that of 1929. Irving Kahn points out that based on volume and trading data, the 1962 decline was a drop in the ocean compared to Read More
When you are just starting out, you will most likely not have a steady paycheck. How are you supposed to handle the ebbs and flows of this type of income? Simple. You learn how to invoice. If you carefully and wisely manage to invoice, your business will run much more smoothly.
These are our tips for getting started with better invoicing.
Do A Little Bit Of Research
Make sure to research your clients before sending out invoices. Will the person pay on time? Will they pay at all? These are questions that require immediate answers.
Social media is a great place to find more about the people you are doing work for. Check out your clients’ social media or Glassdoor profiles. It is also a good idea to go to forums and see if past freelancers or employers have anything bad to say. Carrying out this kind of background check is very useful, as you can find out a lot about the company you are doing business with.
Use Good Invoicing Templates
It takes only a few seconds to download invoice templates and put them to good use.
You can create professional-looking invoices. This means that you can show your brand and use well-defined fields that please the eye. When it comes down to invoice templates, all you have to do is to download the Excel or Word document, fill it in, and, last but not least, email it out.
Clients will easily remember you if you use the same template every time. However, if you are looking to step up your game, use a live email template. When the email lands in your clients’ inboxes, it will make a big impression.
Do Not Forget Important Details
Certain details have to be included in a business invoice. The most important ones are:
- Your Company’s Info
- Services and Charges
- Due Date
Nothing says ‘unprofessional’ like the client having to send back an invoice full of errors or lacking complete information. If you have these important details included in the invoice, you do not have to worry about legal issues. This will make you look like a true professional and will boost your freelancer brand.
Specify What Methods of Payment Are Acceptable
People need to know what payment options they have. If you do not mention the terms of the transaction, it will take longer for you to get your money.
If you don’t specify payment conditions, like your preferred payment method, you’re opening yourself up to the possibility of an unpaid invoice. It is not hard to understand where the problem lies. Maybe you are comfortable setting up direct deposits. Or maybe you prefer credit card payments. It doesn’t matter, as long as you let clients know what is what.
Finally, make sure to get in touch with the right person or department. The last thing you want is for the email to get into the wrong inbox. If it becomes lost in the system, you will almost certainly not get paid on time.