When I started my business full-time nearly a year ago, I figured it would be pretty straight forward and I would implement common business practices. For the most part I have, but there are a few unconventional things I do that I wanted to briefly discuss.
I don’t charge interest on past due accounts.
Common business practices dictate charging clients a percentage of the invoice if the invoice becomes overdue. Often, the interest accrues in 30-day increments, and the percentage runs the gamut of ranges.
I don’t charge any interest. Most of my clients have paid me promptly. A handful have taken a couple of months, and one client took nearly 5 months. The thing is that all of my clients have paid me eventually.
If a client hasn’t paid me, I drop them a friendly reminder via email. Most of the time, these clients pay me after the reminder.
My clients hire me to manage their social media and writing because they don’t have the time to do it themselves. Unsurprisingly, that same busy-ness is what causes them to occasionally over look my invoice.
I don’t charge extra for accepting PayPal payments.
When most business owners find out I accept PayPal, they ask how I deal with the extra charges. It’s simple: I absorb the costs myself.
When I use a credit card at the grocery story, they don’t charge me extra to cover their vendor fees. Why should I do the same to my clients?
Is it really worth my time to charge $6 on a $200 editing contract?
Besides, it’s against the PayPal User Agreement.
I don’t charge extra for rush jobs.
If a client contacts me with an editing job that needs to be done that day or the next day and I can make the time to accommodate them, I don’t charge them extra.
I’ve been criticized for this and told that my clients will take advantage of me. The thing is, however, they haven’t. My clients have been very respectful of my work, and the ones who have given me rush jobs have also given me ones that have no deadlines.
Clients love great customer service, and this is one way I can provide that service.
What unconventional business practices do you have? Let me know in the comments below.
LOVE this. A lot to think about and consider. <3
Glad you liked it so much, Cherieann. :) Feel free to add any ideas you have, too.
“I don’t charge interest on past due accounts.”
With the variability in the payment schedule I have with my suppliers due to a limited number of check runs per month, I am glad that my suppliers do not charge my business late fees. If I had to pay a supplier exactly 60 days from the date of invoice on every purchase order, my accounts payable team would have a huge task to manage these payables.
PayPal
Since I work for a large corporation, I have no experience with PayPal as a payment method, but it sounds like you really understand what it takes to make your clients feel like valued clients who matter to you. Bravo!
“I don’t charge extra for rush jobs.”
Count me as someone who appreciates it when my suppliers do not charge me extra when I need something expedited. This is a great selling feature for your business and something that sets you apart from the others. I see nothing wrong with this at all.
Nice post!
Thanks, Brian. I’m glad you liked the post, and I appreciate your additional insights. :)