How To Find The Best Supplier For Your Business
When you are in the process of building your business one of the key elements to making that business a success is finding and sourcing the best suppliers. Think of your suppliers as akin to business partners, they provide you with a vital service and are an essential link to your business operations. Getting your suppliers right will have a huge effect on not only your day to day operations but the overall success and profitability of your business. The difficulty can lie in finding the best suppliers to meet your business needs. As with anything, the first supplier you meet may not necessarily be the best fit for your business model and you may need to work a little harder to find the right supplier for you. So, whether you are sourcing a manufacturer to supply stage tanks or a supplier of luxury fashion items here are some tips to help you source the best supplier for your business.
Know exactly what you looking for
Before you even start your search you need to be able to identify exactly what you are looking for. Consider the level of service you will need, the terms and conditions you will need to be met, the quality you expect and the price you are willing to spend on the supplier. Make a list of your non-negotiable requirements and those in which you are willing to compromise on or consider a bonus. Regardless of where you look for your supplier it will be considerably easier if you know what you are looking for.
Referrals and recommendations
Obtaining a recommendation is a great place to start. If you undertake a little research and ask friends or fellow business acquaintances about their experiences both good and bad you are likely to get an honest answer. This should help you get a better idea of the pros and cons of a particular supplier and how they might work with your business.
Visit trade exhibitions
A trade fair or exhibition is a great place to get to meet potential suppliers. What is great about trade shows is that there will be several different suppliers and service providers all in the same place at the same time. It provides a great opportunity to network and compare suppliers simultaneously.
Online directories
Of course, one of the most popular methods of finding anything today is looking online and why should finding a supplier be any different? It is a great way to uncover a raft of suppliers. You just need to be mindful of the results. Just because a supplier is ranking first in the search engine results does not necessarily mean they are the best fit for you, rather that they are good at marketing. Be sure to take an independent and objective view of any supplier found online and do a little further digging into their reputation, strengths and weaknesses before simply choosing the first result. Run each potential supplier by your objective list of things you are looking for and ensure that they are the best fit for the job.