Booklet

author

Michael Wong

Design

How to Get Paid on Time Everytime

design

Design

|

HOW TO GET PAID ON TIME EVERYTIME

TAKE DEPOSITS, USE MILESTONES

MILESTONES
Break down your project into milestones that align with the deliverables. Here's an example:

  • Deposit
  • Completed Wireframes
  • Completed Ul Designs
  • Completed Webflow Integration

THE GOAL
Each payment should be a 'pre-payment' for the next milestone.
Remember, the goal is NOT to get as much money from the client as soon as possible. The goal is to de-risk yourself, so you never end up doing work that doesn't get paid for.

SET UP %S

  • Deposit - $10,000 (prepaid for wireframes)
  • Completed Wireframes (100hrs) - $20,000
  • Completed Ul Designs (200hrs) - $15,000
  • Completed Webflow (150hrs) - No payment

Realise how the last milestone requires no payment? because it's prepaid already!

THE BENEFITS

  • You will NEVER do ANY work that doesn't get paid for, because it's prepaid.
  • You hold leverage in the process, because you don't start the next stage until you're paid.
  • You stay motivated during the entire process, being paid too much, too early can actually have a negative impact on your motivation.

REMEMBER IT'S NOT ABbUT GETTING AS MUCH $ ASAP

IT'S ABOUT DE-RISKING YOURSELF

BE FAIR NOT GR√ČEDY

DID YOU FIND THIS USEFUL? Let me know in the comments below. I promise you, I respond to everyone

More booklets by Michael Wong

More Design booklets

Your recently viewed booklets

  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
  • booklet-slide-images
See all booklets