Getting Paid

Getting paid for your work can range from the straight-forward to the nightmare. People love your work, but often, you will find that people will be slow or resistant to pay for it. You run into this with consignment shops. you run into this with custom work for clients. You run into this with retail shops to whom you’ve offered net 30 terms. You run into this with contract and grant work, particularly with government agencies and non-profits. You run into this with people who pay you by check. (NOTE: I don’t accept checks for payment in my own design work.)

You need to get paid so you can move on to the next project.

No money, no inventory, no once-in-a-blue-moon fancy dinner.

Structuring Payments

If you are doing a lot of custom work, your clients will probably pay you in increments, say 50% up front, and 50% upon completion.

If you are doing a lot of consignment, the shops may pay for anything of yours that sells perhaps quarterly. Beware that often consignment shops are slow to pay their consignees.

If you are selling wholesale to other retailers, you might have extended them terms, say Net 30, where you expect to get paid at the end of the term period. If you extend terms to someone, get them to complete a credit application ahead of time.

For each piece sold, or for several pieces sold at the same time, you will be generating some kind of invoice.

Each month, you might also be following up with your customers with a statement form, showing what has been paid, and what still needs to be paid.

INVOICE or STATEMENT FORMS (2-part forms — one for you and one for your customer). You can get a blank pad at a local stationery store, or have these pre-printed with your business name, address and phone.

More Advice

1. Establish a clear payment policy, put it in writing, post it on your website.

2. Find out in advance when the client or business will pay you.

3. Ask if the client needs a W9 form from you in order to pay you.

4. Be clear on whom in the company is responsible for paying you, and be sure to send your invoice to that particular person. If there are also special procedures for you to follow, in order to get paid, get clarity on these right up front.

5. Don’t be shy about using a collection service — even if this means you’ll only receive a portion (say 50%) of the money originally owed you.

6. Invoice your customers promptly.

7. Stay on top of your receivables. If a customer is late, send a reminder note. If a customer is very late, assess a penalty, say 1.5 or 2% per month. Be sure if you charge penalties that these are clearly specified in your written and posted payment policies.

8. Don’t worry about losing the customer. If you are polite but firm, the customer will probably stay with you. If the customer is a dead-bead, then you do not need to continue to do business with them.

9. For large orders, you might ask for a deposit, say 25–50%.

10.Accept multiple payment options. If someone is having difficulty paying you on time, perhaps they can pay you with a credit card.

11.You might offer early payment discounts.

12.Do not payout any commissions or royalties to sales or design staff until the full invoice is paid by the customer.

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Thank you. I hope you found this article useful.

Also, check out my website (www.warrenfeldjewelry.com).

Enroll in my jewelry design and business of craft Video Tutorials online. Begin with my ORIENTATION TO BEADS & JEWELRY FINDINGS COURSE.

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My ARTIST STATEMENT

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Other Articles of Interest by Warren Feld:

Resiliency: Do You Have The Most Important Skill Designers Must Have?

Disciplinary Literacy and Fluency In Design

Backward Design is Forward Thinking

How Creatives Can Successfully Survive In Business

Part I: The First Essential Question Every Designer Should Be Able To Answer: Is What I do Craft, Art or Design?

Part 2: The Second Essential Question Every Designer Should Be Able To Answer: What Should I Create?

Part 3: The Third Essential Question Every Designer Should Be Able To Answer: What Materials (and Techniques) Work Best?

Part 4: The Fourth Essential Question Every Designer Should Be Able To Answer: How Do I Evoke A Resonant Response To My Work?

Part 5: The Firth Essential Question Every Designer Should Be Able To Answer: How Do I Know My Design Is Finished?

Doubt / Self-Doubt: 8 Pitfalls Designers Fall Into…And What To Do About Them

Part 1: Your Passion For Design: Is It Necessary To Have A Passion?

Part 2: Your Passion For Design: Do You Have To Be Passionate To Be Creative?

Part 3: Your Passion For Design: How Does Being Passionate Make You A Better Designer?

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SO YOU WANT TO BE A JEWELRY DESIGNER
Merging Your Voice With Form

588pp, many images and diagrams Ebook or Print

PEARL KNOTTING…Warren’s Way
Easy. Simple. No tools. Anyone Can Do!

184pp, many images and diagrams Ebook or Print

SO YOU WANT TO DO CRAFT SHOWS

16 Lessons I Learned Doing Craft Shows

198pp, many images and diagrams Ebook or Print

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