Bizthreads:
Once you your small business gets off the ground, you will realize that you are getting all sorts of customers. The key to increasing your profits is to filter out the bad clients and rope in the good ones.
Here are some types of bad clients - and how to make the best of the situation.
Clients Who Haggle Too Much
These are clients who haggle too much, decreasing your profit margins and eating away a lot of your precious time. If they happen to pay on time and you want to retain these types of clients, try quoting a higher price initially, then bring the price down to keep them happy.
If you have clients like this and find that your strategy isn’t working, then stick to your guns, making clear that you value their business but will not reduce your prices any further. The key is to not waste a lot of time in dealing with them. Time is money.
Clients Who Pay Late… read on.
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