Treat your suppliers with the same respect as your customers!

All our businesses are co dependant on our suppliers. When a supplier relationship is such that you both benefit it should make you more competitive (this doesn’t always mean cheaper) and both businesses should share in the success of increased business.

suppliers-customersWin-Win isn’t periodically and repeatedly driving down the purchase price, increasing rebates, demanding 60 and 90 day payment terms and continually imposing increased compliance costs.

A good test of how well you understand win/win is to identify what the actual cost or gain is to your supplier every time you change or request something. IE if you request a 30 day extension in payment terms and if over draft facilities are at 12% you are effectively adding 1% onto your suppliers costs. This cost drops straight to their bottom line so if they were making 5 % they are now making 4% which is 20% less. Obviously double sales volumes will more than neutralize this and deliver benefits for both of you.

Work together and help each other!

Mark
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Creating helpful habits!

The trick is measuring and reminding yourself regularly: Search the net for habit building Apps for your phone, some are free, but I use “Way of Life“ App which cost a little over $6 as a one off payment? It graphs your performance reminds you of your goal, requires no set up and is very convenient to tick the daily tasks when done.

Carry on with this routine until you manage to get 21 consecutive ticks in a row on anyone task, this is the accepted measure of having created a new habit.

$20ChallengeIf you are finding this too difficult establish a reward and or a penalty – Les Probert, a friend of mine taught me the $20 trick, it is genius. Make yourself accountable by giving your friend your monthly new habit targets and a $20 note. If when he/she checks in at the end of the month you can’t produce the app showing you have succeeded they cut up the $20 bill. (watching someone cutting up your money is very action invoking)

Use it yourself and teach your staff, great for your managers when introducing new daily procedures, exercise, measuring marketing etc.

Mark
My Gift to you
Thinking Differently- over 100 idea starters

I have just released my first E book and for your interest I have gifted you the link to access your very own copy - pass it on to your friends!!!
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When pricing your products consider 3 things :

  1. What price will your customer pay?
  2. What does it cost you to make?
  3. What do you need to make to cover your costs?

Everyone should regularly check their products against this criteria and develop strategies to adjust their prices. If you need help subscribe to my blog or for urgent help email me.

Mark
My Gift to you
Thinking Differently- over 100 idea starters

I have just released my first E book and for your interest I have gifted you the link to access your very own copy - pass it on to your friends!!!
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Goal setters are valuable

yourgoalIf a person can’t follow through and achieve their own goals then how can they follow through and achieve a goal for the business.

Make it a prerequisite skill for all supervisor and managerial positions. Run training on personal goal setting for all other staff, make it optional and not in work time. How many people you get along will tell you a lot about your current culture.

Mark
My Gift to you
Thinking Differently- over 100 idea starters

I have just released my first E book and for your interest I have gifted you the link to access your very own copy - pass it on to your friends!!!
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Problems are Good!

Problems are good!!They stimulate: change, improvement, action and thinking. They challenge the status quo and add a sense of worth to your life.

Hidden in and amongst our problems are also our opportunities. Appreciate and embrace them and overtime the idea of a problem as good will not be so counter intuitive!

Mark
My Gift to you
Thinking Differently- over 100 idea starters

I have just released my first E book and for your interest I have gifted you the link to access your very own copy - pass it on to your friends!!!
Simply click on the image to access your copy now!
 
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