Why You Have Every Reason to Steer Clear From Deadbeat Customers and Tips to Avoid Them
Finally closed the deal on one customer and sold them your product or given your service to them. The next step must be your receiving their payment. The payment deadline for the invoice has already passed. You found it necessary to give your customer a call after not hearing from them pass their due date. The customer then told you that they will be paying you in the coming days. And yet, another month has passed since you made that call and you still have not received any payment. 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.
The first thing that you have to remember as per advised by Merrick Ventures is to be sure to think carefully about the customers that you will have your business transactions with. 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. 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. 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. 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.
The second tip from Merrick Ventures that you must learn for your business is to receive your payments on the spot. This is most probably the most obvious pointer that every business establishment must know. 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. 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. On the other hand, if you do provide services and products online, the best move is to do cash on delivery as your payment method.