If you’re re-selling physical products in your home-based business, chances are you’ll have suppliers who provide those products. Some home-based entrepreneurs overlook the importance of acquiring and maintaining good supplier relationships. They’re not just a company you order from. Your suppliers can provide a wealth of valuable information about the product line they’re selling you.
It’s amazing what you can learn just by talking to your supplier account reps. For example, the other day I was talking to a rep and the conversation turned to something like this:
Me: “Product X was a hot seller earlier this year, and now it’s on your closeout list. What’s going on there?”
Account Rep: “Oh, Best Buy is getting hold of that product and will have it on their shelves for the holidays. After that, it will be tougher to sell”
Now, I never would have know this had I not taken the time to speak with the account rep and ask the question. This is one of the reasons I am always sending out inquiries to new product suppliers, taking time to speak with them, and taking the time to call my existing suppliers every so often. If you treat your suppliers as business partners rather than just vendors, you’ll be amazed at the value they will provide you in a good supplier relationship.