Top Tips to Avoid Deadbeat Customers for Your Business
You have sold your product or rendered your service to one of your customers. The next step must be your receiving their payment. It is already past the deadline of payment for invoice. After not hearing anything from your customer, you then made the decision that you better get in touch with them via phone. Within a week, the customer told you that they will pay you. But then, after a month from that phone call, you have not gotten the payment from the customer again. If you have experienced something like this in your business, then you better look at the following tips as told by Merrick Ventures to not have this kind of customers.
Based on the studies conducted by Merrick Ventures, choosing of customers must be done wisely. You have to find out as much as you can about a certain kind of customer that you must avoid even right before they still have not bought any of your services or products. Some telltale signs that will tell you that the customer is deadbeat is if they are uncompromising, demanding, and very vague. If your gut instinct tells you to never make deals with this kind of customer, then you should follow your gut instincts. It might be challenging to stay away from customers that approach you if you are still new on the whole business thing. 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. The fear of not getting more customers for their business and just their preference are the top two reasons for most establishments making this mistake based on Merrick Ventures research. 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. 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.
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