Must Read: 5 Simple Rules of a good Buyer and a good Supplier

Posted under General by jsingh on Sunday 14 February 2010 at 8:26 pm

Must read 5 Simple Rules of a Good Buyer and a Good Supplier

Buying Rules:

Do not try to lowball your suppliers. Don’t be greedy, in other words, don’t kill the goose who lay a golden egg for you. Offer a fair market value so that your supplier can recognize you as a valuable buyer.

Never write a bad check.

Don’t bargain to the point where you come across as a “Time Waster”. Generally a supplier will stop corresponding with you and start avoiding  your phone calls.

Do not back out from your offer. Once you issue a P.O, stick with it.

Follow up with your supplier on a regular basis. Establish a good relationship.

Selling Rules:

Never misrepresent your product. Be very clear about what you are selling, terms and conditions. Do not give any surprises to your buyers.

Create trust and confidence with your buyers by providing them a history of your business and do not hesitate to provide references.  Communication is a key to a healthy relationship.

Treat all your buyers the same, with respect. Offer consistent prices. Too much variation can create a negative impact with your buyer.

Explain to your buyers what makes your company different than others.  Stand behind your product quality and ensure on time delivery.

None of these rules are complicated, but they go a long way in your dealings. Still, far too many buyers and sellers forget these simple rules, and those involved end up hurt, disgusted, and sometimes ostracized from this industry.

Bottom Line: Be honest, Pleasant, Ethical and Smart.

Written By:  Jay Singh


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