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. 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.
According to the Merrick Ventures Board of Directors, you must be sure to choose the customers to get for your business 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. If your gut instinct tells you to never make deals with this kind of customer, then you should follow your gut instincts. Having a new business may make it hard for you to decline transacting with certain customers for your business. 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. 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.
Another tip to ponder from Merrick Ventures is you having to receive your payments from the customer upfront. This tip can be very obvious for any business. Even so, you can find that a lot of business establishments are not looking into following this rule when it comes to their business. 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. 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.