Thursday, August 2, 2018

How to increase the success of your business?

There is a bad habit that some clients would like to inquire more suppliers before they make decision. So why must you ask more suppliers when everything the current supplier provided are all satisfied both in good quality and prices? How do you sure the 3rd supplier or your finally decided supplier could do better? The actual truth is potentially asking more suppliers are reducing your success of business, leading more unloyalty suppliers and bad business relations.

Such phenomenon of this is caused by distrust, because the buyer doesn’t think the supplier provided is real and he would like to inquire more than 3 to compare and make final decision. Oppositely, suppliers also influenced by buyers of such attitude, and wouldn’t give the buyer a true price or even give a misleading price to screw up the buyer’s business. How do you think the price is much lower than market level is true? After made the agreement with your reseller, you finally find there is actually no products based on such prices, and the supplier offered such prices said everything changed because so long time passed after the first quotation.

Good suppliers give you price under careful calculation both ensure the goods quality and profit maximum for your side, when you leave and don’t even want bother to send a message to respond or reasoning, you’re expose your buying request to 2nd supplier or more, some are misleading you to final business failure, and some finally become your competitors and potentially encroach your market.

Success business is based on a loyal relationship between buyers and suppliers, understanding trust is mutual not one side. If you don’t trust others, how do they trust you? If you don’t trust on them, tell them why? then everything could be solved. When you have an offer in hand, it is top business secrecy that should be shared by fewest people, make few persons reliable and concentrate it in long time under close negotiation that’s the only way to make things flawless and more compatible to end’s requests. The biggest mistake of some sourcing specialist is they change supplier immediately when they find a bit below of their expectation, they don’t want bother a bit time to complain or to tell that they need a change or a difference, so communication is simple just yes or no. This apparently made business not based on a firm foundation, all the communication and efforts done before could be in vain, you can image the results. 

Trade globalization brings more transparency of the markets, sometimes your supplier and you are dealing with the same clients, and you even don’t understand. The close relationship between supplier and buyer is more crucial, when you’re looking your supplier’s supplier, your supplier is also looking a good deal with your clients directly. Greedy is actually being pushed out of the market, comparingly loyalty, high agreement fulfillment will make you stand out and become the top of the market.

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