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Top 5 tips for engaging a new client

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Building positive relationships with your customers requires you to have a good understanding of their needs and wants.

1. Establish a good rapport

Make an effort to know and understand your client. A good rapport with your client may increase your chances of getting paid on time.

2. Make sure your new client will pay

Give some thought to how likely it is that your new client will pay you on time. If you are uncertain about your new client’s payment track record you may wish to ask for upfront payments, cash on delivery or staged payments.

3. Get it in writing

Always have agreed payment terms in writing. In some cases, you will be asking your client to agree to your payment terms. A great time to do this is when you take on a new client or renew an existing client’s contract. In other cases, your client may ask you to agree to their payment terms. It is important that you fully understand and agree with their payment terms before you sign.

4. Special requirements

Ask your new client if they have any specific invoice requirements. For example, specific itemisations or reference numbers. Having this information upfront will enable you to prepare an invoice that meets their specifications and avoid payment delays.

5. Debt collection policy

Provide your clients with a copy of your debt collection policy. This is a simple way to show your clients that you are serious about receiving payment. It may also give you the confidence to actively follow up on debt.

Speak to a Business Connect Advisor to help plan the next stage of your business.

Southern Region Business Enterprise Centre
Scott Inman
(02) 6297 3121
admin@srbec.com.au
https://srbec.com.au

Credit: Southern Region Business Enterprise Centre

This is general information only and should not be relied upon as financial product advice. You should seek independent advice before taking any product or service.

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