It takes more than just hard work to make your business flourish. It takes relationships. You need to surround yourself with quality people that can help you enhance your knowledge and advance your business. There are a number of business relationships you can foster to help you achieve success. (Do you have a business mentor yet? Read why it’s a great idea here.) When you really think about which relationships are the most important, however, there are five to focus on: Your manufacturer, your customs broker, your marketing team, your assistant, and (of course) your customer. These relationships will be the foundation upon which your business stands.
Your Manufacturer
The backbone to Private Label sales is a reputable manufacturer. You need to work with a manufacturer who can provide you with quality products at an affordable cost. That’s the basis for you to turn around and sell your merchandise in your online store at a high profit margin. While quality and cost are definitely driving factors, there are other aspects you need to consider before partnering with a manufacturer. Can you clearly communicate directly with this supplier? Are they willing to negotiate? Can they handle the volume of product you need? How can they customize your product? What tolerance do they have for damages and defects? Take enough time to ask the hard questions up-front; it will save you time, effort, and money in the long run. If you want to cut out the guesswork and partner with the best manufacturers in the world, join us on our annual trip to the Canton Fair.
Your Customs Broker
Your customs broker needs to be knowledgeable when it comes to your specific product, so that product can be successfully imported. US Customs is not forgiving. Incomplete paperwork, improperly or vaguely described merchandise, and an incomplete product code can all lead to your shipment being delayed upon entry to the US. Make sure your customs broker has the know-how and the experience to get your product from the port of origin to your warehouse or to Amazon’s FBA service.
Your Marketing Team
You absolutely can, and should, market your products. Tell people you meet how great your stuff is. Hold those monthly giveaways to attract new leads. Do whatever you can to spread the word about your products, but don’t underestimate the power of having your own personal marketing team. A marketing team is there to fill in any gaps you have in your current marketing strategy. They’ll create your customized content, stay active on your social media, and work your email list, so you can focus on other aspects of your business.
You can learn what you need to know if you’re willing to put in the work. We’ve been marketing our own products for over thirty years, so you can always call us if you need help getting your marketing strategy in order.
Your Assistant
You’re one person, and there’s only so much of you to go around. We urge you to hire an assistant in some capacity. A good assistant will lighten your burden by taking care of the small stuff, so you can focus on the more important tasks at hand. Booking appointments, scheduling events, returning correspondence, and even dropping off dry cleaning can be handled by your assistant. It helps to make your day more bearable.
Your Customer
Your customers are the most important part of your business. Without them, your business would not exist. Always treat your customers with the utmost courtesy and respect! That doesn’t mean give them anything they want for free, or let them walk all over you. You can’t do those things and still expect to run a successful business. You should, however, listen to your customers, anticipate their needs, and meet their expectations. Do everything in your power to make them into loyal customers for life. If you focus on building and maintaining these five business relationships, your business will thrive. If you need some guidance, you can turn to us for help. We are always here to help your business move to the next level of success. Check out our free Fast Track Bootcamp to get instant access to our wealth of knowledge right from your laptop.
