Switched from a 30-day net to a 7-day net on my invoices and it's been a game changer.

I used to give everyone a full month to pay, but after a $2,500 job sat unpaid for 60 days last fall, I changed my terms. Now I send the invoice with a 7-day net and a late fee, and I get paid in under 10 days almost every time. Do you think shorter payment terms are worth the risk of scaring off new customers?

4 comments

4 Comments

david_walker9717d ago

50% of my new clients walked when I went to 10-day terms last year.

hannah9262mo agoMost Upvoted

My friend's "7-day net" scared off exactly zero good clients.

susan_allen2mo ago

Totally agree, it's such a good filter. I started doing the same thing last year and it just works. The right people don't even blink at clear payment terms. It really does save you from those late payment conversations that waste everyone's time. You just end up working with clients who get how business works.

morganl712mo ago

Exactly... good clients respect clear rules. The ones who get scared off were probably going to be a pain about payment later anyway. Setting that boundary from the start saves so much headache. It just filters out the people you don't want to work with.