Here's a summary of the points from this show.
- Look at supplier values. Does the company you are looking to buy from have similar values to you? Long-term success is dependent on shared values.
- Understand Supplier Requirement. For example:
- Do you need a brick and mortar store?
- What is the Minimum Order Quantity (MOQ)?
- Are there certain countries you cannot sell to?
- Be aware of price-fixing.
- Remember that they have a business to run too.
- Build a personable relationship with them.
- What else can they give you?
- Gift with purchase
- Marketing help
- Dropshipping services
- Other incentives
- Have regular reviews with your supplier
Links & Resources from this show