If you are like most businesses, you are probably overdue for this chat 📞 with your suppliers... 👇
Updated: Oct 8
(1 min video)
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When is the last time you really truly audited your costs? In times like this, you must invest in a thorough cost review exercise & aim to reduce your costs by up to 10%. So where can you start? ```Start with your suppliers. Ask your suppliers this 1 simple but powerful question “How do I decrease my cost of buying from you”?
Maybe it is through an adjustment to your payment terms OR buying in bulk OR making a long term commitment. If you can’t do any of that, consider more creative options like providing them with good referrals for a fee or a discount. Look for that problem you can solve for your suppliers for mutual benefit.
This is a critical exercise and if your business doesn’t have the skills or time to do it, consider hiring someone who can. Hope this was useful.
Surayansh @Founder’sGO2; guaranteeing business improvement