Chapter 02 - Why You Need To Take Deposits From Clients
In our course The Freelancer's Business Bootcamp we walk you through everything you need to know to run a profitable design business from home. We include everything from what to write in your client contracts to what to ask in your consultation and even how to attract your ideal clients with social media (ahem - Instagram!) We also chat about why it's so important to take deposits from your clients.
When I first started my business I consumed every blog post, webinar, online class I could get my hands on and one of the first things that I remember reading was that as designers we're always striving to find our next client. At the time, I didn't really know what that meant. I thought if I have a client, why do I need to look for the next one? Shouldn't I be looking for the next client after I've finished with my current client? This way of thinking will KILL your business! Sometimes people need time to think about investing with you, sometimes they need to get funding, sometimes they're shopping around (I LOVE it when people do this, I explain more about that in the course). So getting a client RIGHT after your contract ends is almost near impossible!
We run our business by booking AHEAD and taking deposits from our clients for 2 reasons:
1) This ensures we don't take on any other work during this time, it's reserved for that client and that client only.
2) It also solidifies the seriousness of your client's intention to work with you.
Because of this, we are able to book ahead in our schedule and stay consistently busy. Staying busy with consistent clients also helps relieve financial stress, something every small business knows well.
This topic and so much more will be explained in depth in the course. Head over to our course page HERE for more info and let us know if you have any questions!