Why Your Business Does Not Deserve Any Deadbeat Customers
Finally closed the deal on one customer and sold them your product or given your service to them. What happens next will be you receiving their payment. The date has already moved beyond the deadline of having the invoice paid. You found it necessary to give your customer a call after not hearing from them pass their due date. Within a week, the customer told you that they will pay you. And yet, another month has passed since you made that call and you still have not received any payment. Having this kind of customers will never do your business any good; below are some points to consider as recommended by the Merrick Ventures Board of Directors to avoid making business with these customers.
Based on the studies conducted by Merrick Ventures, choosing of customers must be done wisely. Before any customer will order some services or goods from you, you must first find out what kind of person you will be potentially doing business with. Some telltale signs that will tell you that the customer is deadbeat is if they are uncompromising, demanding, and very vague. When you get that feeling that this particular person is no one you want to have to deal with in terms of your payment conditions, then you better not strike a deal with them. When this is your first time doing business, you might not find it very easy to be declining any deal with any customer that comes your way. You might come to wonder if you can get more customers such as this if this is the kind of person that will approach your business first. Even if this can be all too tempting to disregard, you know sooner or later that dealing with this kind of customers will just get your business nowhere as per studies done by Merrick Ventures.
What you can learn from the Merrick Ventures Board of Directors will be that it will be better on your part to be getting your payments upfront. This tip can be very obvious for any business. But then, you can see that there are still a lot of companies out there who are hesitant to be applying this particular rule. According to Merrick Ventures, the most common reasons for this include the preference of the business as well as the fear of not getting enough customers to buy from them. However, it is better that you get paid before you render your service or send your product to not have to face any hassle in collecting their payment and saving your time. If you happen to be selling your products online or offering your services online as well, then you better provide for them through cash on delivery basis.