Finding and Choosing Suppliers for Your Business
Suppliers are as essential to your business as just about everything else. Without these vendors, you will not have anything to start with. The best suppliers are those who provide you with what you need, at the moment you need it, and at the price most suitable for you.
If you are an experienced business owner, you likely have a rich network of suppliers and vendors, and finding one that suits your needs will not be very difficult. But for a startup owner, you will definitely need to go out of your way and find the best supplier.
The ideal place to find a supplier is through online. Use search engines to key in a good description of the business vendor you are looking for. Through the Internet, you can easily generate and compare quotations, and look into the credibility of vendors.
The yellow pages and directories are likewise great avenues for finding suppliers who are only a phone call away. Check with embassies for directories of importers of foreign products that you need. Also, visit chambers of commerce for member companies that can provide what you need.
Join fairs and exhibits to meet potential suppliers and sample their products. Trade fairs are the best way to personally check the quality of products and services, and compare prospects without spending so much time and effort because everything is in one place.
Ask for referrals from friends and colleagues. Your social circle can most likely offer you information regarding vendors they recommend.
Price is a primary factor for choosing vendors. Beyond the asking price, think about the fees for delayed payment and other charges.
Make sure that your supplier is reliable – delivers the right amount and quality of products on time. It helps to have a supplier that puts much of its attention on you, because this ensures you get what you need every time. The location of supplier factors in for the timeliness of deliveries.
A good supplier has considerable record in the business. This is not to underestimate new vendors but if you want ensured stability, go for older establishments, but not those very old and non-adaptive ones who cannot provide top quality supplies.