Proceeding With Caution
2022 is the year about keeping business things simple and not overthinking situations as many are desperate and they are not playing games.
Last week my business partner and myself discussed tactics on how to proceed with our business. With raw materials which we require to make our products still in short supply we have had to come up with a strategy. The strategy is mainly common sense and not to go looking for new business, but to allow new clients to come to us.
Today without leaving my home office I received two calls from clients I have been working on for the last year, but haven't pushed too hard. Both of them explained they need to deal with a company they can trust with no lies about deliveries. Funny as this is exactly the reason why we didn't want to pick up new clients until the supply issues have been resolved.
So many businesses cannot afford to lose any clients as a high percentage are in dire straits. Couldn't resist adding this warning sign as this is just too good.
Many companies are self destructing by not reading the market and pushing as though they have an unlimited supply. It is hard enough gaining new clients ,but it is so easy to lose them in this uncertain market. Communication is the key as I have explained to the new clients on our waiting list that they will be added once we think things are safe.
My problem is these are not small clients and are household names around the world with massive volumes involved. This morning we had 100 tons on order and received only 40 tons which is literally enough for 2 big clients. The problem is our current clients needs come first and take priority.
This is the reason why so many companies want to be on our books as they have all been experiencing supply issues being told so many lies. The stock is on it's way or the truck broke down or whatever story they haven't yet used. This never ends well and have been on the receiving end of this so many times you know the only option is to find a supplier you can trust.
I can spin lies bigger and better than the next person but in business I stick to the truth no matter how bad things get. The reality is your company name is known within the industry and no one can bad mouth us for things we have do. In days gone by your word meant something and if I say it will be done it will happen.
On Wednesday I am going to sit down with a new client who phoned today to see the numbers involved and if and how we can help them in anyway. My guesstimate is they use around 5 tons per month and that is decent money. They are small enough to be able to assist as a 20 tonner client is just too risky. The other plan is to supply the bigger clients a guaranteed tonnage each month until further notice so we are in a position to take the entire account when the time is right.
Crazy business situation we find ourselves in currently as this is a great business if you have raw material. The work that has been laid down by myself over the last 3 years will ultimately pay off and have no worries about the future. Very few companies have the same type of relationships I have built up as I have burnt no bridges and on good terms with everyone. Relationships are everything and many don't have that after what we have experienced.
The end goal is what is driving me as being able to semi retire in Europe or somewhere of my choice travelling every 6 weeks to maintain and service the client base. This is doable as lockdowns proved this as buyers don't expect to see regularly.
Posted Using LeoFinance Beta
Honesty always pays off no matter how the truth can affect one. Nowadays there are so many desperate souls out there that they will do anything not to go under and one can understand this, as it is difficult to lose everything one spent a lifetime building.
But there are sharks in deep waters of trouble that live on lies and in conjunction with losing everything, on can also lose one's honor.
You seem to have planned well and people trust you. No money can buy trust and all that I can say is well done for always sticking to the truth. You are now reaping the benefits of it and all strength to you and your business.
Thanks for that. Yes I have always found being honest pays off no matter how bad the consequences are. All of our clients know where the state of the market is currently and appreciate being in the loop with the factory.
Posted Using LeoFinance Beta
Glad that you had the expertise to place yourself well in this struggling market.
Our town has many empty businesses that had to close down and things are not easy these days.
I feel for those that put everything that they had into their businesses and now they have lost it all.
Things are really tough out there and thinking normally is not going to cut it. So many businesses have just closed their doors. Maxidoor yesterday after 40 years in the business. The workers were bitching but explained to one maybe he has held on to the bitter end by keeping you employed for the last 18 months when he could have and should have shut then.
Posted Using LeoFinance Beta
Oh yes many big guys are also going under and we hear many stories in the charity world by people that spent their lives at companies that have shut down.
As you say, in some cases the owners cared for their workers and in others notices of the shutdown was a big surprise to the workers that had to leave post haste.
That's why I said that you have a good thing going, as if you are on the winning side during this tough time then you will cruise in the good times.
In a business like yours, integrity is such a big deal. I can only imagine how easy it is for customers to fall prey to desperate suppliers promising orders they know they cannot deliver on