Tuesday, June 11, 2013

Respect Your Vendors

Respect Your Vendors
By Mohnish Nair




Are you one of those who believe your vendors are available a dime a dozen? Do you take your suppliers for granted? Do you think that they will run to you no matter how badly you treat them? If yes, then you are in for a shock!! Nobody wants to work with an ego-master anymore.

YOUR ATTITUDE TOWARDS YOUR VENDORS SHOWS YOUR TRUE CHARACTER AS A PERSON.

When dealing with your customers you are at your sweetest best. You want to please the client and make sure you don’t lose that order or your payments are not stuck and hence you are ready to take any kind of trash from these customers. However, with your vendors, it’s the other way round. You believe that they need you and hence you start ignoring their reminders, you squeeze them for their price and you have 100 more ways of arm twisting since you believe they need your business and that they will tolerate any kind of un-professionalism from you.

WIN-WIN

Well, its time you wake up and smell the coffee mister!
Gone are those days. Today the world is coming closer and business opportunities are multiplying manifold. Business relationships today are about balance of benefits and about building WIN-WIN relationships. You have to ensure you stick to the agreements and contracts with your vendors if you expect them to reciprocate the same towards you.

TIMELY COMMUNICATION

If you want your business to improve then you must ensure you treat your vendors respectfully. Vendors are also business people. They depend heavily on your responses to manage their operations and cash flow, the same way you do on your customers. You must reply to their communication via email or phone in a disciplined manner, the same way you do with your customers. One weak link can damage the entire value chain. If you expect your vendors to reply to your 2 am calls, you must be ready to do the same for them too.

CONTRACTS AND AGREEMENTS

Respect comes from adherence to contracts and being timely in payments and communication. Respect can also be shown by not arm twisting the vendors when they are vulnerable.

VENDOR EDUCATION PROGRAM

Build a Vendor education program in your company where you educate your vendors on your philosophies, vision, expectations and work ethics. This way you and your vendors will be on the same page most of the times thus avoiding many of the communication and operational hassles.

Remember, if you deal with your vendors respectfully, they can turn into your BUSINESS PARTNERS helping you grow your business.

This article is written by Mohnish Nair. Mohnish is a business coach specialized in small and medium size enterprise coaching in India. A young, dynamic motivational speaker, creative designer and a strategic coach, Mohnish has helped hundreds of business owners transform their world creatively. That's Mohnish's motto in life, to transform the world creatively.

Contact Mohnish by visiting his blogsite  http://www.mapledreamsindia.com or write to him at mapledreams22@yahoo.com

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