There is an old saying about those who don‟t ask for something, will not get it and in various instances this can be true, especially when you are waiting for overdue payments from your customers. We all know it is not fair, but it is a situation that occurs in any business environment and, you have to deal with it!
Before you even reach this stage, you should have determined that the due payment dates on your invoices and statements are clearly defined. Another factor is to have prominently displayed, the late payment policies of your company. In addition, there should be no room for misinterpretation by the customers regarding the actions that will be taken for late payments, including late fees.
Keep positive in a negative situation In perspective, this is situation in which you do not want could find yourself on the losing side, due to heavy handed tactics. Approaching the problem with the wrong attitude will create an adverse situation, because they are going to spread it around to their family, friends, neighbors and anybody else who will listen to their tale of woe and how badly you treated them. It‟s bad for business and who will be the bad guy? You!
Many businesses attempt to put fear in to their late paying customers with threats of additional fees being charged. Remember, you probably went to a lot of trouble and expense to get this customer to buy from you, therefore, you would probably like to keep a positive relationship with them, despite their payment lapses. So, make sure they understand why they are being charged a late fee and be prepared to show them in detail if they ask.
Reasons and attitudes Collecting outstanding payments involves some customer psychology and this includes putting yourself in their shoes. Before you go into orbit and start blasting them with emails, phone calls and text messages, try to determine if there has been an oversight, or an emergency that has delayed the payment. Accordingly, begin with a friendly email reminder, which can be automated with available software.
It is preferable to avoid this developing into a conflict situation, so when phoning the customer, choose an appropriate time of day, especially if they are shiftworkers. Another aspect to consider is customer privacy. If you don‟t want to really upset this customer and ruin your chances of being paid quickly, do not leave messages with family members, friends, or contact them at their workplace. This is a personal and direct matter between you, and the customer.
As far as you can go After 90 days and once you believe that you have exhausted all possible avenues for getting payment and despite all the emails and phone calls, you have still not been paid, it‟s time to consider the legal alternative.
If you are able, make a last ditch attempt to get them to explain why they cannot, or will not pay you. Run through the payment options that remain open to them and discuss the consequences and costs of legal action. In many instances, it revolves around pride and a genuine lack of money, so still try to reach a solution.
Our goal with this book has been to educate the reader about the dropshipping, providing both an insider‟s look into the way the business model works, and an extensive discussion of strategies that will hopefully prove helpful to you as an entrepreneur. We will continue to release new versions of this book as we feel the business is constantly evolving, new platforms for retailing are arising, and more dropshipping companies are starting up. Look for the second edition later this year.
As dropshipping develops further as a model for E-commerce businesses, more strategies will arise, and perhaps you will be an innovator in this business one day. Dropshipping is the retail market of the future. We hope more people will recognize that and join in the business.
You truly support the global economy‟s development with dropshipping, and not only that, you diversify the world‟s wealth. Don‟t let gigantic retailers take over the E-commerce world. Find your niche and become the best providing for it. There are plenty available and, as mentioned in the book, you can find them anywhere in the world. That is the best part about dropshipping. You can be living anywhere and selling to anywhere. It‟s pure retailing freedom.
The men and women at Chinavasion wish you the best in your dropshipping endeavors. We hope that if you are considering selling electronics you will check out our website. If you have any comments or suggestions for ways to improve this book, please contact firstname.lastname@example.org . We wish you all the best!