A good sales strategy includes collection
It is elementary to conduct a good sales strategy, but should never be put aside to establish the conditions of collection, as this may impair your business development.
In many cases we design the best sales techniques to win customers, you might have passed you do sales work perfectly and actually lifts the first order, yet can be sold so the euphoria that you forget to set the terms of payment.
Incredibly many small and medium enterprises suffer from this disease, lack of measurement of credits to be granted, or simply being lax in the management of the collection, brings severe problems for SMEs, including some large companies.
For that to happen you need to establish simple but important domestic policies that will be able to optimize your accounts receivable system.
I detail some of the important measures that could be implemented to address this problem and avoid serious problems with the finances of the business.
- Basic Rule
The sales process does not end until it becomes, in fact may already have closed the sale and the order has been lifted with the purchase order or in some cases already has taken the goods and the customer does not pay;
This situation could be avoided by putting the rule to receive a 50% deposit, as requested in the time to lift the order and the other 50% to deliver the goods.
In this strategy it would take the offer of a discount of up to 5% for prompt payment or cash.
- Credit Rule
Granting loans means putting a part of your business in another person or client, so you must take all measures necessary to avoid exceeding your capacity to give credit as well as the rules for granting,
Ask for references of clients that are extending credit, question and investigate their ability to pay, payment policies, payment habits, in short, make sure the money from your sales reach safely to your business.
If possible designs a credit agreement which stipulate the rules to your client the conditions under which they are granting credit. This part is usually fine because at stake is the customer’s decision to accept your position or get another provider, you should be cautious in the management of this strategy, you could even set the amount of sales from which will have sign a contract.
Make an analysis of your finances to know exactly how many credits you can execute and establish the limit, once reached that limit does not need to give more credit and the financial solvency of your business could be compromised.
- Golden Rule
Always try to sell spot rigorous, this is the best collection strategy you can apply your first choice is the down payment, you can even encourage this rule by establishing some kind of discount or bonus to invite your client to pay you this way.
If a customer pays you cash and tries to keep it that way, sometimes make the mistake of offering credit to whom we always pay cash, it can backfire because the client loses the habit of paying in cash and thereby causing a lack of fast cash input to the operation of your business.
Once again I stress that these rules are part of a good sales strategy as it usually should be set from the first negotiation with your customer.
Read the full range of business articles that I present here and also do not forget to subscribe to this site to receive updates and exclusive Business published here, you can do it by clicking here.
Related Posts:
Posted in Business Ideas | 
Tags: Business, business ideas, Business tips, How to start new business, sales strategy, type of business