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Getting Down To Basics with Experts

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 date has already moved beyond the deadline of having the invoice paid. 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. But then, after a month from that phone call, you have not gotten the payment from the customer again. In order for you to steer clear from this type of customers, it is best that you take the following tips by heart as advised by the Merrick Ventures Board of Directors.

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. 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. 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.

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. But then, you can see that there are still a lot of companies out there who are hesitant to be applying this particular rule. 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. 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.