Good suppliers, like good customers, can last a lifetime. But like
good customers they involve a relationship, not just a series of
transactions. Relationships are valuable — they require constant
monitoring, feedback, communications and fine-tuning.
the past few years, the trend toward cutting down on the number of
suppliers has been accelerating. But the fewer the suppliers you
work with, the more important the remaining ones become. What’s
important when dealing with suppliers — whether on a cash or a trade
basis — are ones you can trust.
select suppliers intelligently, you must have a clear understanding
of your own goals. Know what your standards are for price, quality,
reliability, and the need for peak performance at crunch times. Not
only do you need to trust your suppliers, but you also need
suppliers who trust you. So try to understand as much about their
operations as you do about your own.
Do you know your
suppliers’ top management people?
Do they have depth
in talent and experience?
Are they stable, or
are they susceptible to turnover?
Is their vision of
the future secure, or are they in flux — waiting to be sold?
Your suppliers must not only be able to perform today, but in the
foreseeable future. Ask yourself if they have the capacity to grow
with you, both in volume and in technological capability.
Is Your Trade Exchange Missing Out On
Valuable New Business?
your barter company’s listing on BarterNews.com isn’t current, you
are definitely missing out on new business. The web site
BarterNews.com receives heavy traffic — with over 150,000 page-views
every month. Entrepreneurs and corporate executives check the
thousands of articles, the weekly “Tuesday
Report,” and the “Contacts
Section” of our site. They use the latter to find barter
companies with which to do business.
your barter company’s listing up-to-date?
keep your listing current is very easy. See the links below to (A)
update any changes to your company’s listing, such as new location,
phone number, web site or other information, and (B) if your company
has not been listed.
Here’s how to get on board:
make changes to your listing
How Do You See Yourself?
Most entrepreneurial business owners see their “business
personalities” in distinct terms, according to the latest survey by
Open Small Business Network, American Express Company’s
When asked to choose, 34% of the owners in the survey characterized
themselves as managers, or big picture people, who like making
things run smoothly and improving how employees work together. They
enjoy the operational part of the business.
Second, at 27%, came what the poll labeled the heroes, or those who
take to solving the difficult problems facing a company. Next, at
16%, were the rainmakers who find new business, while 11% of the
owners see themselves as artists, more involved in creating products
than running the business
Only 4% of those surveyed would characterize themselves as
mavericks, or risk-takers, those who sometimes take up projects for
the sense of adventure alone.
Owners were also asked what their No.1 pet-peeve was regarding
employees. Although the largest percentage (35%) didn’t have any one
pet peeve, for those who did, showing up late for work and lack of
initiative were at the top of the list.