As important as clients and staff are, your relationships with your suppliers are key to your business success. Maintaining strong relationships with suppliers can result in better pricing, better products or services, reliable delivery and even the opportunity to be the first to hear about exciting new developments.
Here are some ways you can build and maintain strong relationships with your suppliers.
Communicate clearly
As always communication is key – ensure you outline your requirements clearly, what you want, when you want it, how much you are willing to pay. Although purchase orders can feel old fashioned in this age of email and instant messaging, they are a great way to clearly outline exactly what you want, how much you’ll be paying and when and where you want it. Keep in contact with your suppliers regularly and let them know if anything changes in your business. Make them feel like a valued partner of your business.
Be Reliable
Just as you want clear pricing, good quality and timely deliveries from your suppliers, you should also be a reliable client to them. Place orders with reasonable deadlines, try not to move the goal posts and pay your invoices on time.
Join the NoLimits Business Community
Are you a business owner looking to take your business to the next level? Join our innovative community of like-minded professionals and gain access to a wealth of valuable resources, including a community portal to chat with other business owners, ebooks, business development software, and growth events that will transform the way you do business. Best of all, these resources are completely free and will be available to you forever.
But the benefits of joining our NoLimits business community don’t stop there. By becoming part of our community, you’ll have the opportunity to connect with other business owners, share insights and ideas, and build valuable relationships that will help your business thrive. Don’t miss out on this amazing opportunity to supercharge your business and join us today!
Be Honest and Fair
Be transparent and honest with your suppliers. If their quote is too high it’s ok to ask for a reduction, but also be fair in your negotiations, your suppliers need to make money too. Be honest about your expectations, but ensure they are reasonable.
Get to know them
Developing a more personal relationship with your suppliers can lead to great long-term partnerships. If problems occur or negotiations are needed, having a good relationship makes everything easier.
Show appreciation
Just like in any relationship it is important to show your appreciation for a job well done. This could just be a thank you email or message, or perhaps you could send a small gift. Another way of showing your appreciation is to write reviews or testimonials or offer to be part of a case study.
Build a long term relationship
Always approach supplier relationships with a long-term view, rather than jumping from supplier to supplier in search of a cheaper price or because the grass appears to be greener. A long-term relationship will always deliver more in terms of benefits to you and your business.
Collaborate
Once you have built a great relationship you could consider collaborating to find ways to reach new audiences, improve products or services, cut costs or refine processes leading to more business and profit for you both.
I hope this advice helps you in building and maintaining strong relationships with your suppliers and vendors. The NoLimits Community is a great place to start developing relationships like this – check out the Members in the Community Chat and see if you can find some new partners.
By Duncan McKechnie
Join the NoLimits Business Community
Are you a business owner looking to take your business to the next level? Join our innovative community of like-minded professionals and gain access to a wealth of valuable resources, including a community portal to chat with other business owners, ebooks, business development software, and growth events that will transform the way you do business. Best of all, these resources are completely free and will be available to you forever.
But the benefits of joining our NoLimits business community don’t stop there. By becoming part of our community, you’ll have the opportunity to connect with other business owners, share insights and ideas, and build valuable relationships that will help your business thrive. Don’t miss out on this amazing opportunity to supercharge your business and join us today!