Playbook / Lessons / First customers: the offer, the price
Cash-flow businessWork stops until the retainer is paid
Zakrocki describes a Replenishing Retainer: the client pays a set amount in advance, your hours draw it down, and the client tops it up when it runs low. For flat fees, the client pays monthly or quarterly at the start and work pauses until payment arrives. He says getting paid on time is easier when the clause is in the contract.
“Work does not continue until the client pays.”— Steve Zakrocki, The simple system that can keep your cash-flow consistent, Dec 2016
Do this
Offer one client this week a retainer that is paid before the work starts and topped up when it runs low.