Keep your Vendors Happy, Keep your Customers Happy

Having a good relationship with your suppliers is vital to the success of your business.  Suppliers and vendors keep your shelves stocked with the essentials to keep your business running.  Whether you need products to turn around and sell to your customers, paper and office supplies for your day to day operations or even just pop in the vending machine, you rely on your venders and suppliers everyday.  It’s important to have suppliers that you can trust equally and important to let them know that they can rely on you to fulfill your end of the arrangement.

A good relationship with your supplier often means that they will go above and beyond the call of duty for you.  If you need an item in limited supply and another company also needs the item, you want to make sure that the supplier chooses you.  Being respectful of your supplier’s time and of the role they provide for your company goes along way towards establishing such a relationship.  You also need to be mindful of the fact that your supplier is running a business also and they need to be paid on time.

If a bad run of luck and overwhelming debt has prevented you from paying your supplier or vendor in a timely fashion, corporate debt restructuring can help you to get back on the right track with them before it’s too late. A debt settlement is just the thing to reduce the amount you spend on old debt and increase the amount of capital you have each month to, among other things, pay back your suppliers.

As businesspeople themselves, most suppliers understand that everyone goes through a rough patch from time to time.  Chances are if you have worked previously to establish a good relationship with them they will give you the benefit of the doubt for a while.  It’s important, though, not to take advantage of that trust and get your finances back on track as soon as possible so that you can pay your vendors off in a timely manner and keep your business running smoothly.