payment

One of my schools owes me $1400. And I realize that if this doesn't resolve before Friday, I'm not going in to teach. You absolutely cannot go in until they pay you! hubby told me at breakfast.

Looking at my books, I see I also have 3 families who owe money. I invoiced all of them, this morning. I never had so many students and could previously just keep everything in my head. If someone forgot their check book, one week, we'd just all remember. But now I have students coming by, 4 days a week. Some for 30 minutes, some for 45. Some on both violin and piano (on scholarship) and others at the regular price. I now take notes because I don't remember who paid what, each week. This morning, I sent out invoices for $200, $210 and $75 with a request that these families pay each week or one month up front. It's otherwise terrible to be chasing after people for their checks. Next year, I need to simply charge by semester or month, upfront.

The longer I run my business, the more it becomes very clear. Stricter policies are better. Of course I can always make exceptions and always do to my detriment. But I shouldn't be offering those exceptions upfront or people just take them. People should ask for them instead.

I am a terrible business person. Very good at saving money and being thrifty, but not so great at making money for myself. But you know, when the breadwinner in the family is about to lose his job in a takeover and your kid's meds may or may not be covered by insurance.... It sort of changes things! Cleaning house and making sure I'm getting paid.

Olivia really gave me a mouthful when she heard what I charge. I've charged the same for the past 9 years. Next year I raise my rates (closer) to the 'going' rate. Yes, just closer, because I am so far away from what I supposedly should be charging, I can't make such a huge leap in one year!