Treat suppliers right to get the best results

To get the right results out of your suppliers you need to understand a little bit about how foreign culture can differ a little from American ways of doing things.

For instance, Americans like to cut to the chase. Some other cultures, on the other hand, will often prefer to spend a little time getting to know their counterparty before doing business.

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Top tips for negotiating with your suppliers

First off, remember that negotiation is about specifics. So when you order samples, you need to provide the manufacturer with all the right information for your product specification – length, weight, appearance, packaging, and so on. You want to be comparing apples and apples, not apples, oranges and bananas, when you get responses from the different factories.

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Lower fulfillment cost = higher profit

If you have to open your own store or create your own website and delivery service, you’ll have big costs – rental, insurance, and labor. If you’re importing as well, it can take up a lot of time and a lot of effort and cost. That’s why many businesses prefer to use FBA.

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Keeping a watch on the competition

Competitor analysis used to be easy. There were maybe five or six major competitors and you knew who they were.

But now there are literally thousands of sellers joining the Amazon marketplace every day. (That’s right; not every month, or even every week – every single day.) It’s much less easy to keep an eye on them.

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