Always track your consulting hours
Billable hours are the Holy Grail in the consultancy industry so make sure that you develop a comprehensive, sustainable and easy to follow method of tracking your consulting hours for your clients. This will help you to stay on top of your finances as well as manage your time better.
Be professional and polite
It might go without saying, but keeping a professional attitude (including your branding, colors and using appropriate language when describing your services) and being polite will help you to get paid faster. You can even include a customized ‘thank you’ note at the bottom of your invoice and make sure you are friendly and respectful in all related communication.
Be prompt when invoicing
It’s always best to invoice promptly once you’ve completed the project so you will not forget to include any of the services you’ve provided. This will also keep your cashflow healthy as the client is more likely to be faster with payments if they receive the invoice shortly after the work has been completed.
Don’t skip the details
You might think it’s obvious but many consultants forget to include details such as payment terms, payment due dates and even their own contact details for the clients to get in touch if needed. Always double check you have all the information.
As a consultant it’s likely that you either have clients from the same industry or you provide similar services to different clients. This means that you can create efficiencies for yourself by reusing some of the invoices. Always make sure you check for accuracy beforehand as you don’t want to make a costly mistake by omitting information or sending the wrong or sensitive information to a customer.