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Want To Get Paid A Lot In Advance? Three Methods To Get Paid Earlier

Want To Get Paid A Lot In Advance? Three Methods To Get Paid Earlier

FromThe Three Month Vacation Podcast


Want To Get Paid A Lot In Advance? Three Methods To Get Paid Earlier

FromThe Three Month Vacation Podcast

ratings:
Length:
27 minutes
Released:
Oct 19, 2018
Format:
Podcast episode

Description

One of the most mind numbing tasks is to get a client to pay for the job you've completed Clients tend to be slow with payments or just default. But is there a way to avoid such a mess? There's not just one, but three separate ways to go about it. Let's find out how you can get paid without all the bother—and well in advance, too. Click here to read online:  Want to get paid a lot in advance? 3 Methods to get paid earlier than ever before ________________________________________ What is this life if, full of care, We have no time to stand and stare. No time to stand beneath the boughs, And stare as long as sheep or cows. No time to see, when woods we pass, Where squirrels hide their nuts in grass. Wouldn't it be a bit of shame that we have no time to look at sheep and cows because we're trying to get paid on time? There's no foolproof system to get paid every time, but if you pay attention to how other industries work, you might never have to chase payments again. There are three core methods to use: – The Construction Company Method – The 100% Payment in Advance Method – A Downpayment in Advance Method Let's look at all three to see which one works for you. 1) The Construction Company Method When we were building our office—which is next door to our house—the builders followed a slab system of payment. Every stage of the construction had a pre-payment attached, and it looked a bit like this: Foundation: Pre-payment 1 Rough framing: Pre-payment 2. Rough plumbing and electrical: Payment 3 On and on it went through the insulation, exterior, interior, carpeting and exterior driveways. If we wanted the next stage to proceed, we needed to make the payment to keep our builders “motivated”. This slab system of payment is one of the finest both for the client and the person doing the job. It makes sure that both parties are incredibly motivated to go ahead with the process. As a service provider, this is often an excellent system to follow because it ensures both parties move ahead systematically However, there's also a bit of a downside if one of the parties decides to walk away. Let's say you start working on a client's website and the payments are going well when the client suddenly runs into some sort of difficulty. Maybe she's had a personal problem and can't pay the rest of the sum, or perhaps she's just really slow with sending her text and images across. No matter what the problem, you're stuck because you can't proceed with the job. The happy news is that if you've worked out your payment structure well, you'll won't run into a loss because you've covered what you've done. By no means is this a foolproof system because your project might need to do a lot of core work at the start, and then not a lot in the middle and at the end. It means you'll have put in a lot of effort and not been paid for it. But wait, no one said the slabs had to be equal, right? If the first slab requires about 45% of the work, then that's the first payment the client needs to make before you get started. If the second slab is just 10% of the work, then you get the client to pay accordingly. However you decide to break up the slabs, it's important you get paid for the proportion of work you're putting in, which means you've got to do some groundwork and estimation in advance. However, that's just the first method of getting paid. The second seems harder because it's 100% in advance. But is it really harder? 2) The 100% Payment in Advance Method My father ran a secretarial college for over 25 years and it wasn't an easy life. He'd leave for work before 7 am, to make sure he opened all the doors and windows, turned on all the lights, and had his first cup of masala tea long before the first student showed up an hour later. All day he'd be at work, returning home about 8:30 at night. It was a time-consuming job, but the one thing he didn't spend much time on was collecting money. He'd always get the student's money in advance If you wanted to be on a co
Released:
Oct 19, 2018
Format:
Podcast episode

Titles in the series (100)

Sean D'Souza made two vows when he started up Psychotactics back in 2002. The first was that he'd always get paid in advance and the second was that work wouldn't control his life. He decided to take three months off every year. But how do you take three months off, without affecting your business and profits? Do you buy into the myth of "outsourcing everything and working just a few hours a week?" Not really. Instead, you structure your business in a way that enables you to work hard and then take three months off every single year. And Sean walks his talk. Since 2004, he's taken three months off every year (except in 2005, when there was a medical emergency). This podcast isn't about the easy life. It's not some magic trick about working less. Instead with this podcast you learn how to really enjoy your work, enjoy your vacation time and yes, get paid in advance.