It doesn’t matter what the size of your business is, whether you sell a product or a service, and if you are strictly online or have a brick-and-mortar establishment – the fact of the matter is that your organization is going to need cash flow, which comes from your clients.
When just starting up, a bit of imposter syndrome creeps into the minds of many new business owners, making it a lot more difficult for them when dealing with clients. Still, here are some helpful tips to make it a lot easier for them to deal with clients as a small starter company – incorporating both good and bad customer situations.
Have a Backup For Delayed Payment
Some clients – especially when you provide a service – are very slow to release payments. This isn’t necessarily anything against you or your business, but the urgency as a small business to get cash is much more than the urgency of clients to release it. Of course, client retention is very important, and you don’t want to burn bridges by demanding money aggressively.
However, you have the right to get paid, there is no doubt about that, and as such, if a client has not paid you, you should send a polite chaser. In the meantime, though, it is always nice to have a backup, so you have money to keep your business running. Be sure to use an organization such as FundInvoice, which offers invoice finance services – this basically means that you can fund your business by releasing cash against unpaid invoices.
Try Building a Rapport with Your Client
As previously stated, client retention is just as important as client acquisition; therefore, it is very important to build a good working relationship with your clients so that they will want to do business with you again – the best way to do this is to create some kind of rapport with your client.
The benefit of being a small business rather than a large and faceless conglomerate is that you can be a lot more personal when you do business, so use this to your advantage. By forming that personal connection, it is going to be a lot easier for a customer to come back to you and work with you.
Pay Attention to Feedback and Act on it
If you want to work well with customers – both those who like what you do and those who don’t – then it is crucial to ensure you are paying close attention to any and all feedback that you’re given.
Customers will always be keen to share their opinions with you, and when you take on board what they have to say, you are putting yourself in a much better position when it comes to overall improvement. As such, be sure to make it clear that you pay attention to a customer’s feedback and then either respond to it or act in accordance with it.
There is so much to learn from customers and what they have to say about you and your company, and you can use their opinions to your advantage by taking on their advice and effectuating it to improve your business. Overall, this will make many more happy clients that will return to you time and time again.