When selling goods or services on credit (paid in full after delivery of product), it is important to ensure you will receive payment. Follow these simple steps on the front end to increase the likelihood of payment on the back end after the terms of your contract with the customer are met.
1. Pick the right customer. You wouldn’t hire an employee without reading a resume, contacting references, or ensuring their educational degrees had merit. Screening your potential clients or asking for references will give you an opportunity to ensure they align with your company’s values and they are in good financial health.
2. Maintain a relationship. Putting “deposits in the bank” of your relationship with clients can make difficult conversations later more productive and fruitful. This can also apply to conversations on payment.
3. Ensure they are satisfied with the product. An unhappy customer may withhold payment. Keep in contact with your customers, asking questions about satisfaction with you, your team, and your product.
4. Make paying easy. Send an invoice immediately, ensure it’s clear, and include various payment options. If making a payment to your company takes more time than others, customers may work on “low hanging fruit” first.
Ensuring you not only have the right goods and services, but the right customer, will increase the likelihood of on-time payment.
Do you already have clients who are not paying? Learn more about steps you can take at https://www.beyondgreensolutions.com/post/how-do-i-get-past-due-customers-to-pay-their-debt.