What No One Knows About Businesses

Top Tips to Avoid Deadbeat Customers for Your Business

You have sold your product or rendered your service to one of your customers. Receiving their payment must be something that happens next. 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. 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. 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. 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. 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. 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. 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. 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.

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. 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.

Supporting reference: try this