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Treat Your Suppliers with Respect

In running a company, it's essential to recognize that your suppliers are your partners. Without the goods and services they provide, you would not be able to run your business. Treat them as the valuable allies they are and you will enjoy greater success.

Treating a supplier with respect means being the kind of customer you yourself would like to have.

Pay your bills on time, every time. If you know you will be late with a payment, communicate with the supplier immediately.
Be honest and courteous in any negotiations. Look for ways that both sides can win in any deal rather than seeking an advantage at the supplier's expense.
Honour any promises you make to a supplier, such as when you will get back to them about a purchasing decision.

By doing such things, you build a history of trust with each supplier that you can draw upon in times of need. Perhaps one day you'll need a delivery more quickly than their regular schedule allows. Or maybe you'll need an extra month or two to pay your bill. If you've developed a good relationship with your supplier, they will likely be happy to extend you these favours.

Wouldn't you do the same for your best clients?

Fern Gordon is the owner of The Profit Line. Making sound business decisions means having a clear picture of your financial situation in front of you at all times - yet the daily demands of running a small enterprise can be overwhelming. As a result, financial record keeping and reporting often don't get the attention they truly deserve.
The Profit Line changes all that. We are your bookkeeping partner, helping you stay on top of your finances so you can make better, more informed business decisions.
In addition to taking paperwork off your plate, we also pinpoint the key numbers critical to the performance of your specific enterprise, and make sure you have them in hand whenever you need them.
The Profit Line

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