Cash flow is the lifeblood of any trade business. Yet many tradespeople struggle with late payments, leaving them chasing customers for money they've already earned. Here are five proven strategies to get paid faster.
1. Set Clear Payment Terms Upfront
Before you start any job, make sure your customer understands your payment terms. Include them on your quotes and invoices. Whether it's payment on completion, 7 days, or 14 days – be clear from the start.
Consider asking for a deposit on larger jobs. A 25-50% deposit secures the work and improves your cash flow from day one.
2. Invoice Immediately
Don't wait until the end of the week or month to send invoices. Send them as soon as the job is complete – ideally while you're still on site. The sooner you invoice, the sooner you get paid.
Digital invoicing tools like Fieldly let you create and send professional invoices in seconds, right from your phone.
3. Offer Multiple Payment Options
Make it easy for customers to pay you. The more options you offer, the faster you'll get paid:
- Card payments (credit/debit)
- Bank transfer
- Payment links via email or text
Online card payments are particularly effective – customers can pay with one click, and you get the money faster than waiting for a bank transfer.
4. Send Payment Reminders
Don't be afraid to follow up on unpaid invoices. Most late payments aren't malicious – customers simply forget. A friendly reminder a few days before the due date, and another if payment is late, can work wonders.
Automated reminders take the awkwardness out of chasing payments – the system does it for you.
5. Build Good Relationships
Customers who trust you and value your work are more likely to pay promptly. Deliver quality work, communicate clearly, and be professional. Happy customers pay faster and come back for more.
The Bottom Line
Getting paid faster isn't about being pushy – it's about being organised and making it easy for customers to pay. With the right systems in place, you can spend less time chasing money and more time earning it.