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How To Build and Maintain Good Vendor Relationships 

There are many factors to creating and maintaining a successful business, one of them being your vendors and your relationship with them. While each vendor’s involvement will differ, it’s important to know how to work with each other in order to preserve a high quality of service. We’ve listed a few ways that you can ensure you build sustainable, mutually beneficial vendor relationships

 

1. Make Your Vendor Relationships Personal

Get to know your vendors on a personal level and find out what you can do to assist them in making things run more smoothly. If you can both get on the same page from the get-go, you’ll find your partnership to be a lot stronger. 

 

2. Honesty Is The Best Policy – Be Honest with Vendors

Bumping into issues is inevitable when you’re running a business. Should a problem with your vendor arise, instead of cutting them loose right away, it’s best to deal with it head on and be honest with them about what you’re unhappy with. Regardless of whether you have a long-term working relationship with them, or are just starting out, finding a constructive solution will benefit you both.

 

3. Plan, Plan, Plan – Let Vendors in On Business Plans and Objectives

Letting your vendors in on your business objectives will not only allow them to stay on top of their deadlines and what is expected of them, but it will also give you both the opportunity to plan ahead for any short-falls.

Read Also: Why Business Strategy Is Important For Growth.

Whether it’s to ensure great service, customized deals or simply to get your business’s name out there through word of mouth – maintaining strong and healthy relationships with your vendors is critical when it comes to keeping your business growing, and while there are many parts involved in keeping a company moving forward – your vendors play a large role in that movement. 

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