Work at Home
How to Protect Yourself &
Your Business
© 2003 Vishal P. Rao
As a business owner, you already know how important it is for your
customers to feel safe about doing business with you. After all, if a
customer even suspects he may not receive everything he was promised,
then chances are he's taking his business elsewhere. So to prevent that
you offer guarantees, secure payment methods, prompt customer service,
and more. You do whatever it takes to show each customer that you are
sincere and trustworthy.
But what steps do you take to protect yourself and your livelihood?
Too many business owners spend all their time worrying about their
customers' security without thinking of their own, even though small
companies must often deal with customer fraud, non-paying clients, and
more.
Just as you've taken steps to ensure that your customers are satisfied
with their buying experience, so should you feel comfortable and secure
by taking a few precautions of your own.
1. Get Everything in Writing
Written contracts are not just for helping customers understand what
they can expect to receive for their money, they are about laying down
the ground rules for your business relationship. When these guidelines
are in writing, nothing is left up for a debate or becomes a
misunderstanding.
Both parties can be assured that their interests are being protected and
both should have a clear understanding of their rights and
responsibilities in the event that something goes awry.
A good example would be if you sold a toy which a parent returned six
months later because it was broken. Without a contract in writing
specifying the time limits and conditions of your return policy, you
might end up with an ongoing battle wit the customer which could result
in lost business and even lawsuits.
Written contracts also don't need to be crafted by lawyers. You can
write everything out yourself in ordinary, easy to understand language.
When you and the customer sign it, it becomes a legal and binding
agreement. It's really that simple.
2. Don't Be Naive
So many people in business get burned by their customers simply because
they are too trusting. For example, some of you may have shipped
products before the customers' payments cleared. Or you may have
completed agreed upon work without asking for a deposit. Both are risky
propositions as many new entrepreneurs discover the hard way, especially
if they do business online.
You can protect yourself by always asking for a partial payment in
advance and by always waiting until a customer's payment has cleared
before you ship their products. Another method of protecting yourself
and your customer is by using a service such as Paypal.com to handle
your transactions. The service protects you from non-paying customers
and offers your customers protection for lost, damaged, or unshipped
products.
3. Know Your Local Laws
One of the best ways to protect yourself is by becoming informed. When
you know your legal rights, you'll have a better understanding of how to
effectively deal with troublesome customers.
For example, some states don't allow you to limit a customer's right to
return a product beyond a certain time limit, so you may not legally be
able to enforce a guarantee of only one week. On the other hand, if you
know your rights, then you'll also understand what steps to take in case
legal action on your part is necessary.
For instance, you may want to send a certified letter demanding payment
before you file a lawsuit. Additionally, if you appear knowledgeable
about your rights, many customers might think twice before failing to
pay or committing fraud.
The bottom line is that you deserve to be protected just as much as your
customers. A few advance precautions now can ensure that you'll have a
long and satisfying business relationship with your customers.
Resource box:
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For opportunities, ideas and resources to start a home based business,
visit:
http://www.home-based-business-opportunities.com
For more articles by the author, visit:
http://www.home-based-business-opportunities.com/library/reprints.shtml
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