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5 Takeaways That I Learned About Businesses

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Why You Have Every Reason to Steer Clear From Deadbeat Customers and Tips to Avoid Them

You have sold your product or rendered your service to one of your customers. What happens next will be you receiving their payment. 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 tells you that you are paying them for the week. 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.

Based on the studies conducted by Merrick Ventures, choosing of customers must be done 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. Never make deals with customers that give a demeanor of being vague, uncompromising, and 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. 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. And yet, up until now, omitting this rule seems to be very common among a lot of companies big or small. 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.