Pros and cons to meeting with suppliers

Pros and cons to meeting with suppliers

April 4, 2018 2:12 pm

As I write this, I’m touring to my house in Austin, Texas from a weeklong journey to go to suppliers. Some are within the U.S. Some are in China. My pals understand how a lot time I spend assembly with suppliers. They typically ask why don’t I rent somebody for these conferences and these journeys.

For me, a part of it's the enjoyment of journey — doing thrilling issues within the locations I'm going. However there are different causes to go to my suppliers.

Let’s begin with why I ought to not go to my suppliers.

No provider visits

The first purpose to not go to my suppliers is I don't care about them. I don’t imply to sound harsh. For instance, if I'm drop delivery from a provider that's considerably bigger than FringeSport, there could also be no have to domesticate a relationship. There's presumably little profit to my enterprise.

This additionally extends to suppliers that produce off-the-shelf merchandise. In case you are shopping for solely from unique gear producers, it doesn’t make a lot sense to go to them. You possibly can simply ship somebody in your behalf in the event you do something in any respect.

One more reason to not care a lot about your suppliers is for those who purchase primarily on worth, akin to a commodity or one thing that has little model recognition and lots of choices. In case you have many potential suppliers and your principal concern is the bottom worth, it makes little sense to construct an emotional reference to any particular person provider. You’re possible going to modify to a different provider anyway.

Lastly, should you don’t care to journey, or to go to together with your suppliers and construct connections, then you shouldn't do it, or rent somebody to do it in your behalf.

Now, why do you have to go to your suppliers?

Visits are useful

The primary cause to go to suppliers is to construct relationships. When you deal with suppliers such as you’re doing one-time offers, they’re going to deal with you in the identical approach. They may assume there’s no potential for an extended-time period association, solely “How a lot can this firm order? How typically? Can it pay?”

Nevertheless, for those who go to the provider, you'll be able to benefit from emotional bonds. You possibly can domesticate a relationship which will pay dividends. Maybe the corporate will work with you on creating a customized product. Maybe it has an merchandise that you would be able to promote solely.

Furthermore, when you’re engaged on complicated tasks with a provider, corresponding to creating a product from scratch, it makes numerous sense to go to. Should you’re going to work together over an prolonged interval, a little bit of human connection can present the provider that you simply take the venture significantly.

One more reason to construct emotional connections is for what occurs down the street. For instance, once I was an worker, I constructed a relationship with a gentleman who bought merchandise to my employer. I labored with him intently for 5 years.

Once I left the corporate to launch FringeSport, this individual got here to me and stated, to paraphrase, “Peter, you handled me so properly all through all these years. I do know you’re going to achieve success in your subsequent enterprise. I’d wish to be concerned not directly.” His help helped me begin FringeSport and make it profitable within the early days.

What do you assume? How do you handle relationships together with your suppliers?


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