Paying Clients: Get 100% Payment Before You Complete a Project

One of the ways to increase your cash-on-hand within your business is to change your client’s payment terms in the proposal. If you want to know how to get paying clients before a project has finished, keep reading.

For the longest time we did the typical agency billing, which was 50% upfront and 50% upon competition of the project. The issue with this model is that the project is always delayed by the client which causes a delay in the remaining 50% due.

One thing we did, that had a high impact within 30 days, was change our payment terms to 50% upfront, 25% upon concept approval or X date; whichever came first. X date was defined in the timeline and this allowed us to accurately predict when more cash would come in. It also eliminated the client holding up the project and made the client somewhat stay on task. We also did the remaining 25% at the completion of the project or X date; whichever came first.

This resulted in us getting 100% paid on projects that may have only been 35% complete. Huge cash insertion!

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Become a Better Agency Owner

Now you having paying clients in better processes, that’s the first step towards becoming a better agency owner and creating the authority your agency deserves.

Through my own career and professional life, I have more than likely experienced all if not most of the different struggles you have and can help you with what I have learned. From bad agency clients, developing agency products as well as how you can build authority for your agency.

If you want to grow your agency even further, I have agency growth hacks, the best ways to improve management of your business as well as why building a remote team can be beneficial in the long run.

As well as this, you can learn more about my career as well as tips, tricks and insights by checking out my blogs that cover a wide variety of topics.

I also hear the experience and advice from other successful agency experts in my Ask Swenk series and more of my videos on my Youtube channel.