If you're like many business owners your suppliers are at the very heart of your business. You could not run it without them so you need to make sure that you have a good relationship with them. Having a good relationship with suppliers can be a little bit tricky especially when you are a new business and you're just navigating your industry. This is why you need to have a few guidelines in place to understand how you can build better relationships with your suppliers so that your business is never left hanging and everything can run smoothly. Here's a look at how to build these critical relationships.
By Team Savant
Image: Sincerely Media
Communication Is Everything
You have to make sure that you are communicating effectively with your suppliers. You need to let them know your business needs, your expectations and your goals from the very start.
You don't want to be blindsided along the way. As a matter of fact, you don't want them to be either. Both of you should clearly understand what you bring to the table.
Be Reliable and Dependable
You want a relationship with your supplier that is built on trust; it means that you have to be dependable and reliable. You have to honor your commitment when it comes to payment, delivery schedules and the order quantity that you want.
When you consistently meet your deadlines and fulfill your other obligations you are demonstrating your reliability as a business partner. The good thing about this is that at those times when things may go haywire and you can't fulfill your commitments on time your supplier is likely to cut you some slack because you have been so faithful over time.
Understand What Your Business Needs
It's important that you understand what your business truly needs from a supplier. For example, if you have a tattoo business what you need from a tattoo supplier will be different from someone who owns a fitness studio.
Identify what you need for your business and then find a supplier who can best align with it. This will reduce your disappointment and ensure you're getting all that you need in order to properly skyrocket your business to the mountain tops.
Provide Feedback and Recognition
It's important that you provide feedback and recognition to your suppliers. Talk to them about product quality, areas of improvement and service levels.
If you are pleased with what you are getting then let them know, if there are some things that you're a little bit concerned about communicate this as well. This is the only way to build a relationship that benefits both of you.
Another thing you must remember to do is to celebrate their contributions to your business as well. Show appreciation in any way that you deem appropriate from time to time. This will help to foster a positive relationship.
Ready to take your new business and new heights by having a great relationship with your suppliers? You now know all you need to make it happen.