I have made very serious mistakes … (Part 5)
How about TERM OF PAYMENT (TOP) ? … This one is easier to be adjusted …
Very often, I thought at my first time in selling business, the combination of giving BIG price discount and giving LONG TERM of Payment to my customers could be a perfect tool to leverage my sales volume ... am I right ?
Think again, .. the common problems of giving LONG term of payment to your customer is going to make your customer think to pay you MUCH LONGER than you wished….
Tell to your customers … ” my dear customer, I will come back to you 3 (three) months later to get my payment ...” , this effort just only make your customers asking you MORE price discount and MUCH LONGER term of payment !!
Think from your customers sides …. “this vendor ask me to pay in 3 (three) months later .. why? ... (to be continued)
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