Top Tips to Avoid Deadbeat Customers for Your Business
Finally closed the deal on one customer and sold them your product or given your service to them. Receiving their payment must be something that happens next. It is already past the deadline of payment for invoice. You found it necessary to give your customer a call after not hearing from them pass their due date. The customer then tells you that you are paying them for the week. Even so, a month has passed and still, the customer did not give you any of his or her payment as discussed. 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. It will be safe if you institute finding out some identifying characteristics of customers that you must never make deals with before you even start letting any customer avail of the services or products that you are offering them. You can identify if a customer is deadbeat if they are vague, cannot be compromised, and are very demanding. 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. Having this kind of person go first to you might just end up with your thinking about the ways in which you will be able to get more customers to make business with you. Though it seems that you can benefit from this kind of customer at first, take it from the Merrick Ventures Board of Directors, you will just end up losing more of your money in the future.
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 is most probably the most obvious pointer that every business establishment must know. And yet, up until now, omitting this rule seems to be very common among a lot of companies big or small. You can still see a lot of companies being too hard-headed to follow this practical rule for the reasons of losing more of potential customers and just simply it being their preference as found out by the Merrick Ventures Board of Directors. Even so, when you get your payment from your customers first, gone are the days of having to remind them that you will collect their payment and waste a lot of your time. The method of cash on delivery, on the other hand, works well for your company and the customer if you are providing your services or products online.