Thoughtful Thursdays – Is your business ready to do business?
Today’s thought is directed towards, but not limited to, entrepreneurs in the start up phase of their businesses. It is often a task that gets taken care of after receiving the first order. Do you have all the necessary documents in place to process the order?
The downside of not being prepared can have disappointing consequences. These can vary from a lengthening of your sales cycle to not being paid for products and/or services provided. These consequences may be it is avoided with some forethought.
It is great to get the first orders, it is also beneficial to have a flawless transaction. Do you have what you need?
- Applications for establishing credit
- Letter of intent
- Sales agreements
- Contracts
- Waivers
- Certificates of compliance
- Material Safety Data Sheets
- Instructions for use of the product
- Estimate forms
- Order forms
- Invoices
- Packing slips
- Bills of lading
- Customs paperwork
- Purchase orders
- Delivery receipts
- Away record keeping system to keep it all organized
As basic as it may seem, it is surprising what is forgotten and left to chance. Be sure of your processes.
In closing, it is also a good idea to test your processes before taking them live.
Good selling,
Richard
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