Bare Necessities: Three Tips for Identifying Your Supplier
There is plenty to think about as you launch your new business. Any time you’re able to streamline the process, you do yourself a great favor because the simpler the startup, the less stressed you’ll be. There’s a reason Hollywood movies generally spend a minimum of six months in pre-production, because creativity and ingenuity work better when the incidentals are covered. Minimizing your stress load translates to better service, and will assuredly increase profits!
One area in which new business owners generally create vast amounts of needless stress? Locating and dealing with suppliers. Whether you create your products by hand or sell the creations of another producer, you will ultimately need to obtain either raw materials or the actual goods themselves. A supplier can assist you in providing the essentials for your company. But if you value the success of your business, you cannot settle for just any provider. You will need a supplier who can send you high-quality materials whenever and wherever you need them and at a price you can afford. Fortunately, thanks to the Internet age, such suppliers are in abundance. Here’s how you can find them:
Search Engine
One piece of advice rises to the top whenever typical business questions come up:When in doubt, Google. That’s the mantra that applies to everything from cat videos to business endeavors. Develop a specific search term related to the type of supplier you’re looking for, and then browse the links that come up. But as always, buyer beware—not all websites are reliable. Generate a list of possible suppliers then discuss your options with your peers and other small business that work in similar industries. Before you decide to invest in goods from an online supplier, do your research and check for signs of a scam. Ideally, your supplier will be accredited by the Better Business Bureau and highly rated by sources such as Angie’s List.
Trade Associations
Google can be useful to a certain extent, but if you want the advice of others working within your industry of choice, there’s no better place to obtain it than through official trade associations. These associations may offer reviews of various suppliers as well as suggestion articles detailing a variety of quality manufacturers. Additionally, trade-association websites often offer public forums on which members can ask advice from other professionals working in the given field. The worst you can do when researching a market through trade associations is develop a baseline price you can work with for the supplier you end up collaborating with. You can find a full list of trade associations on the United States government’s official webpage.
Direct From Manufacturers
Do you have a specific name-brand product in mind that you’d like to sell? You might be able to negotiate a good deal by contacting the manufacturer directly. This approach especially works well with smaller businesses, the owners of which are always eager to keep a larger cut of the profit for themselves as opposed to working with a middle-man supplier. Larger manufacturers often maintain regional and local distributors, so check your chosen company’s website to see if there’s a distribution center located near your own company’s center of operations.
As you hunt for a supplier, keep in mind the specific type of product you’re hoping to sell as well as the potential for profit related to each item. Make sure that your research is done before you launch your business and keep summaries of your efforts on-hand for later reference. A successful business begins with high-quality products, which is why you should never settle for less than the best!
Follow Adam on Twitter: @thebizguy
