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Communication is the key to vendor relations. In your small business, you will be in need of many products and services. Unfortunately, not every company that provides these products and services will have their act together as much as you do. You, as a small businessperson, were able to carefully study each purchase because it was your money. You knew exactly when, where, how and at what price you were willing to partake in those purchases. Not all vendors you deal with will have such savvy folks working for them.
Most business people, especially small business, owners are not as refined or efficient as you are in your small business operations. Do you think most small business people would even read this article? But you are aren't you? That means you care enough to get it right, stay efficient and have the support you need from your team and your vendors. Most vendors may not be on the ball like you are in your company; Usually they are:
Slower to process orders
Substandard in their quality
Unaware of their actual costs
Unwilling to give 110%
Lacking in procedures (paperwork)
Unable to manage their staff
Not good at planning ahead
Lousy at keeping promises
Knowing this unfortunate truth about businesses, it's amazing some stay in business. As a matter of fact, 80% of small business start-ups will be out of business in one to five years. Ouch. That's a pretty scary statistic, but it's true. Obviously, not all businesses will fail. Some will succeed in spite of themselves. The ones that will succeed will be better than the ones that won't.
So, how do you know who gives good service and who doesn't. It really doesn't matter if a company gives everyone else bad service as long as you always get good service. Yes, it matters but from a vendor standpoint, you know when you need something you also need deliver and performance from that vendor not the usual line of excuses. It is extremely important for you to be extra nice to vendors. A vendor who drops everything to help get you on your way can make or break a profitable day. Remember, your small business generates money every day by fulfilling customers needs and if you cannot fulfill their needs they will find someone else who will and that someone is probably your cross town competition or at least the competitor you worry about the most.
Be nice to vendors, get to know them on a personal level and think about this next time you order something from them.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Entrepreneurial Hate, its out there
Today, I got an email from a lady who hates all business people and entrepreneurs, because they are Greedy, Arrogant and a Host of other atrocities. She was replying to an article I wrote about entrepreneurs and how they bring to the civilization; everything you see, everywhere you go and without us, you would have nothing.
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Having built a business from a bucket of water and sponge, which started over 25 years ago in a National Franchise chain in 23 states, I feel comfortable discussing entrepreneurship.While building my company in the beginning we learned the value of grass roots marketing, being involved in the community and giving a little back as we grow.
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A streak dating back more than three decades came to an end at midnight on New Year's Eve. For the first time since 1972, as America rang in 2005, "America's Oldest Living Teenager" was not in Times Square to count down the dropping of the giant ball.
Dream It, Create It, Become It! Design a Dream Board
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... in Pursuing the American Dream
This morning I woke up at 4:30 in the morning, as usual, poured myself a cup of coffee, as usual, and thought about what my son said to me yesterday evening. You see, he's 2 1/2 years old and talking quite well, for his age.
Secrets of My Favorite Government Auction
I love bargains. And there's no better place to find bargains than an auction.
Go Slow to Go Fast - Why Over 80% Of High Tech Startups Fail And What To Do About It
With billions of dollars of venture capital residing down the street on Sand Hill Road, two Stanford professors are attempting to answer a fundamental question "why does it always take longer and cost more to build a hi-tech company than anyone ever expects?" For all the intellect, experience and graduate degrees in the venture capital industry, the sad truth is that 80% of venture capital investments do not pan out. While the reasons for this high attrition rate are too numerous to list here, a simple fact defines every successful investment - the company figures out how to bring in more money than it spends.
Curb Your Enthusiasm
Isn't enthusiasm a good thing? Aren't we urged to be enthusiasticabout what we do? To be committed?We are..
Which Niche To Conquer?
I'm sure that you've heard about how many start up companies fail when they first begin, and the reason that most (if not all) of their failures is because they don't create a good fountain to build on.If we start right, it is easy to go right all the time.
About Ending Competition
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