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Some people in business will say that there is no such thing as a bad paying customer, some of these same people also believe that there is no publicity that is bad. There is nothing that could be less true for anyone hoping to build a sustainable, growing business. As the owner of the business you need to be the one choosing your own customers from the pool of potential customers. You heard it right, you are the one that should be in charge of choosing customers! Why would you say that? It would seem that a business owner should accept the business of anyone who is willing to pay for it. However, this is not the case, in my humble opinion. Many approaches to increasing cash flow are short-sighted, and that includes not having any standards about who you will accept as customers. It is generally agreed that manipulating people into buying your goods and services is a poor long-term strategy. However, many business owners adopt the approach that they cannot afford to turn down any potential paying customer. As tempting as it may be to accept all the business that comes your way when you are starting out and cash flow is low, the long-term consequences to your business can be so severe that they more than cancel the beneficial effect of the extra revenue. What reason is there to be picky about deciding on a customer base? There is an obvious answer that anyone who has run a business would know. Some people are unable to afford your services but that will not stop them from trying to buy from you. A good example of this is the 2007 -2008 mortgage crisis. It resulted from the banking industry thinking that they could make quick money from sub-prime borrowers. Trying to make money off a high risk customer base will often come back to bite you. The entire economy has gone into a recession as a result of it. IT would be just rewards if it weren't for the ripple effect. Small businesses go down this road and if you choose to accept questionable customers as well it is likely to be a poor business decision for you. Collection agencies might be in your future. Believe it or not there is one group of paying customers that you would be best not to do business with. These are the constant complainers who are never satisfied. You can usually pick out these customers because they are very vocal and will tell you about problems they have had with other companies. Even though they have the financial means to pay you the headaches that you will experience is not worth the effort. The idea is to be aware of these people and you will gradually learn how to weed them out of your customer base. One way of doing this is to find out if they have a legitimate complaint against another company. If you know the company they are complaining about has a good reputation then it is probably best to avoid these people. Once they purchase something they are always complaining about it and you will probably be on their bad list with your competitors also. The above consumer groups are simple for business to ignore, however, another segment of the customer base that must also be passed on are those customers whose needs are not met by your products or services. In general, businesses tend to believe that it is a customer's prerogative to determine what to buy and the business will simply sell as much as possible to any buyer that deems their product worth purchasing. This behavior is near sighted and does not help with the growth of your business. If a customer buys something and is not happy with it, they are likely to place blame on the business that has sold this product to them. In the long run it is far more beneficial to tell a customer that your product may not meet their needs and expectations than to make a sale that will disappoint your customer. If you simply describe your offerings without trying to over sell it with hype this situation can generally be avoided. Inform your customer to the best of your ability what it is that you are offering and let them make an informed decision. If you are able to discuss a customers needs rather than the advantages of a given product you will be more easily able to match your offerings to the needs of the customer. In this situation it is not uncommon to find that another product or service that you have to offer may be more beneficial to the customer. It is also possible that you may determine that you can't meet the customer's needs at all. In cases where you can't satisfy a customers needs a referral to another provider is often the best solution. You will find that this builds consumer confidence and often leads to sales in the future when the customer's need is more matched to your product.
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About the Article Author
You can get more information about Business Marketing Plan at www.BizRave.com . Eric Menzies writes about Search Engine Marketing Firms and other topics.
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