If you’re thinking about starting your own small business, whether it be providing a service or even selling physical goods, then you probably know that you’re going to most likely need to have a supplier or even multiple suppliers. Finding the right supplier for your business idea may honestly be pretty tough. Some business ideas only get to stay just in the idea phase because there isn’t a good supplier or at least not the right one. Sometimes, a business will just completely end abruptly because of issues with the supplier.
Suppliers can often be what makes or breaks your business, and that idea alone is a tad scary. Since suppliers are such a major part of most businesses nowadays, it’s important to know what qualities to look for so your business can be as best as possible here. So here are some of the top qualities to look for in a supplier.
It can at times be very difficult to find a good supplier. While there are plenty of qualities out there that can signify if a supplier is good, one of the biggest is owning up to their mistakes. Admitting to making a mistake is difficult, it’s honestly difficult for most people to do. If your business is basically on the line because of this, then it’s no doubt going to make a world of a difference.
It’s important to hunt for a supplier that is accountable. You want a supplier that will take full responsibility for their mistakes and will work forward with you to address issues as soon as possible. A supplier that does not own up to their mistakes can hinder your business and the ability for you to meet deadlines and fill customer orders. So, accountability is a key characteristic that you need
It’s best to get a good idea of how some of the supplies you need are made. But it’s also important to know the difference between high quality and poor-quality supplies. This will help you base your decisions on finding a supplier. This honestly can go for anything from fabrics, but even to a proportional solenoid valve that you may need for your business. Know the difference between high and low-quality supplies so you can determine what the supplier has to offer.
Obtaining a product sample
It’s a major red flag that a supplier will not allow you to obtain a product sample for you to approve. This is one of the most important methods in determining the quality of supply and verifying the production capabilities. A picture isn’t enough, you’ll need the physical piece of supply to help you with determining whether or not it can be used. Sometimes you may be expected to pay for the shipping or for the piece of the sample. Something like this is common, but just be wary that you should not work with a supplier that refuses to give you a sample.
Expertise in your industry
This may depend on the industry itself and whether or not it’s niche. If you’re wanting to buy something such as soy wax from a supplier, then you should expect them to have expert knowledge on the product and even the market itself. You want a supplier that has knowledge in the market that you’re serving in. While it may depend on how niche the topic is, most of the time, you should expect and count on the supplier to know. Ask for references and be sure to contact them to assure this supplier meets your objectives.