One of the most important factors to keep in mind as a growing business is how you grow your business network. Whether it’s marketers, influencers or even suppliers, you have to nurture good relationships in order to keep your business operating smoothly. The strength of your business will depend on how strong your relationships are with other companies because there’s no way you can survive on your own as an independent business. Sooner or later, you’re going to have to rely on other companies for help.
So in this article, we’re going to talk about why you should focus on building good relationships with suppliers in order to create sustainable business growth.
Suppliers will go the extra mile for a regular client
Working with a supplier is a two-way street because they’re providing you with a product and you’re providing them with regular income. A solid business-to-business relationship is a great way to ensure that your suppliers put you as a priority for orders, they’ll make sure that their deliveries are quick and punctual and they’ll also let you know about the latest product releases and future products that could be of interest to you. You’re also likely to get special treatment when it comes to customer service and they might even have some kind of reward or loyalty scheme that you can take advantage of.
Suppliers are easier to work with when you get to know them
There’s nothing quite like traveling over to a wholesale rugs seller to examine the rugs in person before purchasing stock, or even being able to examine the products and request different designs because you know the wholesaler. Developing a good relationship with a supplier is an easy way to make your orders more customisable and also helps by giving you advantages that aren’t afforded to first-time customers or those that aren’t interested in building a good relationship with them.
Suppliers are an important source of information
Casual chats with your supplier can reveal some surprisingly juicy tidbits of information. This can include bits of information from your competitors, they could reveal what the market conditions are like or they may even talk about shortages in supply, prompting you to purchase more stock now before the prices rise and your competitors are forced to up the prices of their products. There’s plenty of information that you could pick up from your competitors, and having a good relationship with them is one of the best ways to extract those details in a friendly way. Think of it as having a competitive edge over your rivals in the industry–having insider information is always going to be a good advantage.
Networking and building a good relationship with your supplier is one of the keys to business success. If you’re serious about growing your business and want to see how far it can go, then you’d be wise to focus on networking as a priority so that you can take advantage of the points mentioned in this article.
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