Top Tips to Avoid Deadbeat Customers for Your Business
You have already provided the service or sold your product to a customer of yours. The next step must be your receiving their payment. The payment deadline for the invoice has already passed. You then decided to call this customer of yours since you have never received their payment or heard anything from them. Within a week, the customer told you that they will pay you. 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.
According to the Merrick Ventures Board of Directors, you must be sure to choose the customers to get for your business 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. You can identify if a customer is deadbeat if they are vague, cannot be compromised, and are very demanding. 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. You have to learn from the experts such as Merrick Ventures that no matter how great these customers might look like on the outside and at first purchase, you will just end up losing more of your money in the long term.
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. Even so, you can find that a lot of business establishments are not looking into following this rule when it comes to their business. 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. But then, you will get more benefits when you have your customers pay you first such as not getting caught in the hassle of collecting the payment from them and saving most 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.