The first question that crosses one's mind when approached by a buyer is 'Is he a genuine buyer?' I have come across several sellers who, unable to differentiate a genuine buyer from a fraud, were left with losses — in terms of money and time. So how does one manage to separate those who can be relied on from the ones who are untrustworthy? Usually sellers hastily send samples without much verification and the end result is that usually buyers who are waiting for such gullible sellers disappear once they get the samples. I have always insisted on sellers being very meticulous — questioning the buyers about their product specifications, offer price, past buyers and reasons for change, etc. Sellers must also give more attention to communications from day one before the deal is finalised. A good indicator of reliability is properly published active communication media, such as a business telephone number or office address, email ids, office fax lines, and so on. Before one decides to go ahead with the deal one should assess how they respond to communication. Has the buyer been able to give you suitable answers to your questions to expel your doubts? Moreover if possible, invite the buyer to your company. It always pays to meet your buyer as it adds to you credibility. Also never forget to get hold of a couple of business references for their feedback. Usually feedback of other companies with which they have dealt can give you a fair idea on their business reputation. Timely responses are also important in establishing that your buyer is interested and authentic. If you send an email and the buyer is not replying for more than a couple of working days, it gives you a fair idea that he may not be interested or he might be a cold prospect. Sometimes it is possible that inquiring buyers might be showing interest only for price comparison purposes. In such cases they may not be serious buyers. Lastly, any genuine buyer will understand any reservations that you may have. So don't shy away from asking questions. If you have any doubts, clear them! Everyone knows that in business it is important to get paid...that's what you're in business for. So why ignore or overlook these factors in your haste to confirm a buyer?
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