Loading…
13
Overheard a 25 year old freelancer say 'Net-30 is the industry standard' and I almost spit out my coffee
I was at a coworking space in Austin last week waiting on a wiring consult and this kid next to me was on the phone telling a potential client that Net-30 payment terms were just how things work. Man I remember when getting paid in 30 days meant you were lucky. Now I put 1.5% interest on anything past 15 days and I don't feel bad about it one bit. The way small business has shifted to just accepting late payers as normal really bugs me. Any other old school guys out there holding the line on shorter terms?
2 comments
Log in to join the discussion
Log In2 Comments
wells.evan3mo ago
Hold up though, Net-30 is standard for a reason. If you're pushing 1.5% on 15 days you're basically telling clients you're desperate for cash, and that's not a good look when you're trying to look like a real business.
4
river_thompson3mo ago
Back when I first started out I accidentally offered Net-7 with a 5% discount because I was so eager to land my first real client. They took it, and I spent the next month eating ramen while wondering if I'd just started a very stressful new hobby instead of a business. So yeah, you're right that it can look desperate, but sometimes the desperation is justified when your rent is due and your savings account is basically a meme.
1