“You must gain control over your money or the lack of it will forever control you.”
– Dave Ramsey
And when you’re running a one-woman shop, the lack of money can be the difference between paying the bills and hiding from collection calls. Since money is the lifeblood of your business, it’s the literal heartbeat that keeps you going.
Yet, that can be very hard because you actually have work to do. Let’s say you’re a freelance graphic designer who has 10 projects to finish. You don’t get paid until the work is done, but you won’t get paid unless you take the time to send out invoices. It’s a nonstop cycle and you can’t forget that staying on top of your financial situation is just as important as your designs.
Here are a few tools to consider while trying to streamline your process and spend the majority of your time on building your business.
WorkflowMax’s Hourly-Based Invoicing
The phrase time is money is the first commandment for freelancers, especially those that bill by the hour.
In the past, you had to keep track of your time and then transfer the information into an invoice. Sure, that doesn’t sound difficult, but it’s certainly a waste of time. Instead, try a program like WorkflowMax that sends your timesheet data into an invoice anytime you want.
Lemonstand’s Subscription Boxes
Some freelancers business models are based on a recurring subscription model. This can be incredibly time consuming and sometimes the lack of options can be a huge turnoff for some consumers.
That’s where Lemonstand’s subscription boxes comes in. It gives your customers a choice in how to pay, including weekly, monthly and yearly. You can add this feature to your website and your customers can easily sign up for a subscription. And it won’t take any of your time after your initial setup.
Paypal’s Versatile Invoicing
Paypal is one of the most trusted online payment services. It’s probably the easiest freelancing option available And it’s a great choice if you have a limited number of invoices every month.
Some may still be in the dark about the small business services that Paypal now offers, including invoicing. You can easily track invoices that haven’t been paid, duplicate invoices, and send reminders. One of the best Paypal options is that customers can pay on your website or app, in person or at a location, or by email or phone.
Money’s Your Priority, But It Shouldn’t Take All Your Time
I’ll never forget my husband’s infamous words about managing our business:
“I don’t want to do any business stuff, I just want to do my job.”
Unfortunately for him (and me!), his job included business stuff and not just the fun stuff he liked. But that man loves to get paid! So out of necessity, I had to come up with a system that is fast and easy. Because I love to get paid too.
Take a look at your current invoicing system. Stop chasing people and wasting time on a process that can be automated. Find the right tool to match your unique business situation.
And start spending your valuable time on anything but paperwork.
Liesha’s a freelancer by day and Kyokushin Black Belt by night. A late-blooming academic, she’s happiest teaching business at UoPeople. Liesha’s the author of Killing Rapunzel: Learning How to Save Yourself Through Determination, Grit, and Self-Employment (her mother hates the title – but it’s a metaphor mom!). She talks business at Microbusiness Essentials and everything else at Liesha Petrovich.
Get in touch with Liesha on Twitter.
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