Business Development Consultants Detroit MI

As an entrepreneur, it’s easy to let yourself slip into the notion that you’re operating in a lonely silo, or even that to succeed in business, it’s you – and only you – against the world. Not only is this idea usually wrong, but it can be very destructive to you and your startup.

Supplier relationships are one area where you’re likely to find considerable interest in your company’s prospects, and more offers of outright help and cooperation than you might imagine. You can encourage this largesse, and make money with it, using some simple, proven tactics.

Work out special payment terms with suppliers

You may hesitate to ask, especially if you’re just starting a business, but you’d be surprised how willing many suppliers are to give financial breaks that will help fledgling startups along and give them some orders. If and when you make it big, of course, they’re also going to expect you to remember their help and keep feeding them your business.

Take Lanny Goodman, who was churning out the instruction manuals produced by his publishing business on his HP Color Laser Jet 5500, and knew he could cut those costs in half by moving the work to an offset printer. But his Albuquerque, N.M.-based startup didn’t have the $30,000 in front money to pay for the minimum-sized order that would yield the best price benefit.

Author: The Sloan Brothers

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