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Informative Articles

Are You Satisfying Your Customers?
The latest report from the American Customer Satisfaction Index (Michigan School of Business) reports the following: Customer dissatisfaction with the quality goods and services offered in the marketplace is more than a nuisance. The US economy is...
Can Point of Sales Systems Really Enhance My Customer's Visit?
You may assume that your guest's experience at your restaurant may be enhanced by a point of sale system. Maybe you had not even though of it. However, the fact is that a good point of sale system can benefit the experience of your guests. So...
Customer Focus - Just 5 Simple Things You Need to Think About
In all the businesses we conduct, there are customers. And they are the life-blood to us. It's TRUE! Despite all the million and one things we are doing - we've got to have paying customers! Nevertheless, just five things will dictate success or...
Do You Have an Exclusive Market Segment?
You do if you’re a business, non-profit or association manager with important external stakeholders whose behaviors affect your department, division or subsidiary the most. In your own best interests, here’s what you’d better be doing about...
How to give your customers a choice between you and the competition and have them choose you.
Instead of giving your customers or potential customers a choice between you and your competition and having them choose the other guy, have them choose you. Michelle Dunn’s new book” Become the Squeaky Wheel,” says creating a credit policy...
 
How to Protect Yourself & Your Business

As a business owner, you already know how important it is for your customers to feel safe about doing business with you. After all, if a customer even suspects he may not receive everything he was promised, then chances are he's taking his business elsewhere. So to prevent that you offer guarantees, secure payment methods, prompt customer service, and more. You do whatever it takes to show each customer that you are sincere and trustworthy.

But what steps do you take to protect yourself and your livelihood?

Too many business owners spend all their time worrying about their customers' security without thinking of their own, even though small companies must often deal with customer fraud, non-paying clients, and more.

Just as you've taken steps to ensure that your customers are satisfied with their buying experience, so should you feel comfortable and secure by taking a few precautions of your own.

1. Get Everything in Writing

Written contracts are not just for helping customers understand what they can expect to receive for their money, they are about laying down the ground rules for your business relationship. When these guidelines are in writing, nothing is left up for a debate or becomes a misunderstanding.

Both parties can be assured that their interests are being protected and both should have a clear understanding of their rights and responsibilities in the event that something goes awry.

A good example would be if you sold a toy which a parent returned six months later because it was broken. Without a contract in writing specifying the time limits and conditions of your return policy, you might end up with an ongoing battle wit the customer which could result in lost business and even lawsuits.

Written contracts also don't need to be crafted by lawyers. You can write everything out yourself in ordinary, easy to understand language. When you and the customer sign it, it becomes a legal and binding agreement. It's really that simple.

2. Don't Be Naive


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So many people in business get burned by their customers simply because they are too trusting. For example, some of you may have shipped products before the customers' payments cleared. Or you may have completed agreed upon work without asking for a deposit. Both are risky propositions as many new entrepreneurs discover the hard way, especially if they do business online.

You can protect yourself by always asking for a partial payment in advance and by always waiting until a customer's payment has cleared before you ship their products. Another method of protecting yourself and your customer is by using a service such as Paypal.com to handle your transactions. The service protects you from non-paying customers and offers your customers protection for lost, damaged, or unshipped products.

3. Know Your Local Laws

One of the best ways to protect yourself is by becoming informed. When you know your legal rights, you'll have a better understanding of how to effectively deal with troublesome customers.

For example, some states don't allow you to limit a customer's right to return a product beyond a certain time limit, so you may not legally be able to enforce a guarantee of only one week. On the other hand, if you know your rights, then you'll also understand what steps to take in case legal action on your part is necessary.

For instance, you may want to send a certified letter demanding payment before you file a lawsuit. Additionally, if you appear knowledgeable about your rights, many customers might think twice before failing to pay or committing fraud.

The bottom line is that you deserve to be protected just as much as your customers. A few advance precautions now can ensure that you'll have a long and satisfying business relationship with your customers. Vishal P. Rao is the owner of http://www.home-based-business-opportunities.com - One of Internet's leading website dedicated to starting, managing and marketing a home based business.

 

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  • why you must build a customer list to prosper

  • winning customers over the phone

  • winning customer experiences

  • winning the loyalty of your customers

  • work at home business ideas

  • work from home and make more money

  • wrapping yourself around the customer

  • writing the book on great customer service

  • your customers are more than a number

  • your diamond mine the lifetime value of your customers

  • you must build a customer list