No business is an island. To survive and indeed thrive on the market, you need to make sure that you are creating the right type of connections that you can rely on. There are lots of connections to consider here. For instance, you should think about options like influencers. These can help you gain the right attention from your target audience. You might also want to consider finding the right suppliers. The best supplier will mean that you can rely on them to keep your company firing on all cylinders. Here are some of the top considerations you should explore when looking at different suppliers.
Cost
First, you do need to think about crucial factors like cost when you are choosing the right supplier for your business. Heavy costs are always going to hurt your company in the long term. It will mean that your entire business model is far less efficient and this is the last thing you want. It can give your competitors an easy upper hand on the market.
This is why you should always ask for different quotes when you are exploring various business suppliers on the market. At the same time, it’s important to understand that cost is not the full story. There are lots of other factors that you need to think about here which we’re going to explore in this article.
Reviews
You might find that a business is able to sell you supplies at a low cost – great news – but their reviews aren’t great. In particular, business owners like you have found that their company services are lacking to say the least. This is a cause for concern that you need to take seriously. Of course, a couple negative reviews don’t always mean that the business should be avoided. Clients can be disappointed for a variety of different reasons. Why you need to watch out for are trends throughout the reviews or patterns which suggest a poor level of service. In cases like this, it’s best to steer clear of the company instead of giving them the benefit of the doubt.
Another point to think about is whether or not a business has many reviews. If a company is untrusted, this can be just as dangerous as a business that has a high level of negative buzz. The saying that it’s better the devil you know than the one you don’t holds true here. If reviews are mixed, then at least you know the problems you should expect if you choose to use the company as your supplier.
Quality
Another factor that you should keep in mind is quality standards. Some suppliers are always going to be able to offer higher levels of quality in terms of the products that they sell and that’s important to keep in mind. Don’t forget, quality is one of the leading reasons why a lot of businesses fail to get the reviews that they are looking for from customers. Choosing the right supplier is one of the easiest ways to ensure that you don’t fall short here.
For instance, you might be creating wooden products for your clients and customers. If that’s the case then you should think about choosing a supplier that can provide items such as unfinished wood rounds. When choosing a company like this, make sure that you do look for evidence of high quality. For instance, they might be able to provide photos of what type of products you could create using their materials as a base point. You also shouldn’t be afraid to ask questions about the level of quality available from a company like this.
Contact Points
The hope is always going to be that once you find a supplier that you want to buy from it’s smooth saving. However, there’s no guarantee that this is going to be the case. Indeed, it’s possible that you’re going to have a lot of questions and queries about the service that the business provides. That’s why it’s important to make sure that you can always get the answers that you need. One of the ways to do this would be by making sure that you choose a supplier that is providing strong contact points.
You should take note of details like this at the first point of contact. For instance, think about how long it takes for the business to respond as well as how they respond. Most, if not all businesses, will respond in the first 24 hours. They will then follow up with a more detailed response within the first week.
When exploring whether to form a partnership with a company, make sure that you check how you will be able to contact them. Some of the possibilities will include text, email, phone and live chat. The more options available, the easier it will be to guarantee that you are never left waiting for an answer you need from a business.
Turn Around
Next, you need to make sure that you think about the turnaround that a business can offer. Ideally, you should aim to find a business that can deliver a rapid turnaround in terms of the supplies that they offer. A slow turnaround will lead to problems for your business down the road. It could even mean that you end up with a lull in the supplies that you need. That could ultimately result in downtime for your business which can end up costing your company thousands each day you lose work.
A good turnaround time will depend on the specific business industry that you are a part of. However, you do need to make sure that it fits with your specific business model. You should also make sure that a fast turnaround is guaranteed. The best way to do this is to form the right legal contract with the company in question. In other words, you should think about ensuring that the agreement between you and a potential supplier is iron clad with absolutely no wiggle room for them to miss a delivery.
Outsourcing
Finally, you should think about whether or not the company in question is outsourcing to other businesses. There’s nothing wrong with outsourcing as a general rule but it does call into question whether you are being provided with the service or supplies that you’re paying for. If a company is outsourcing their production or manufacturing, then it calls into question who you’re actually in business with.
It’s likely that you vetted a supplier that seemed to fit the mold for what you needed. You might have searched their social media buzz and explored other clients that they work with. If they are outsourcing, then this means there’s a whole other business working behind the scenes that you know nothing about. Don’t forget, this business is completely clean when it comes to problems with quality. You can’t blame them for issues here and neither can the original company that you formed a partnership with. It makes things a little tricky for you when you are running your company. So, how should you handle this?
Well, you can ask the company whether they use outsourcing services directly. Do note that there’s no guarantee they’ll answer this question honestly, so it’s worth completing a little independent research if this possibility does concern you.
We hope this helps you understand some of the key points that you should consider when you are choosing the right supplier for your business. By exploring these options, you can make sure that you are not left with a company that falls short of your expectations and that will ultimately cause long term problems for your company on the market.
