Another One Bites The Dust
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It is actually very good news and I couldn't be happier.The time I spent managing them was just not worth it and the service they expected and hassles we had with payments was always a worry. A problem I don't need to have anymore.
I have somehow managed to lose my biggest client over the last week and still not a hundred percent sure how or why. I am not upset and kind of relieved to some degree as we have evolved as a business since we onboarded them right at the beginning. They were good for us back then and we were good for them but honestly have outgrown them and they were more of a hindrance. I even gave them some clients to show how straight up I was and they do this? This is not how I work and now I will have to show them how things are done.
They are a wholesaler who supply over a vast region which makes it harder for me as I don't want to tread on any toes. It has happened a few times where I have gone to see a client only to have to back out realizing he was already using our product buying from my wholesaler client.
There is a code in business which many of the other manufacturers never adhered to and I stuck with it never poaching business away from my clients. It may seem funny but suddenly my business became more profitable as their clients are open season now and I know they cannot compete with me.
I have kept a list of clients I walked away from and now I will be revisiting shortly. Over the past 2 years our margins have been slashed by the wholesaler as the market became more and more competitive but the selling price never really changed at retail levels. The wholesalers were making more than the manufacturers and now they will feel what it is like to jump ship.
I have a hunch they have moved after all these years for a few cents or an extended line of credit which we will not offer. I know with one or two phone calls I can make back what we lost on the one account so it is not a big deal and one that had to come to a head at some point.
I always look for the positives when things happen and overall this is more of a positive than a negative as the benefits are now massively in our favor. less hassle and easy pickings considering I now have an extra 20% to play with when it comes to pricing with those clients. I know their mark ups and it will be a pleasure earning that type of margin again.
Just think what they have done is super dumb as many clients we delivered directly for them as part of our service. We were happy to do it as even though we knew they were making far more than what we were making off them. They will have lost those clients for sure now and is it worth the few cents overall that they are saving with their new supplier? This is good news for me on so many levels as it has freed up the market place even more. Their 200 or so clients will be whittled away as this is really easy pickings.
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Balance and self-control to keep clients is very difficult
Especially as you deal with clients of all categories
But good luck with what is coming
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I am very happy with this outcome as I benefit far more now.
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Wow, that is pretty crappy and really great all at the same time! I totally know what you mean about someone you have been working with for a long time actually becoming a bit of a headache. That is just dumb that they decided to move away from you, but I am sure they will soon learn how foolish that was.
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Honestly I only kept it going out of loyalty as that still means something with me. Now that has gone it is just business and they will see how much protection they had from the way I worked. I know of a handful of accounts they will lose within the next few weeks and the profit from those will be worth more than their account was worth so it is good for me and bad for them in this economic climate as new customers are seriously hard to obtain.
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Hey, you gotta do what you gotta do! Best of luck picking up the pieces! :)
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I used to work in an office supply company chain, parented by a very large retailer. One of the small rivals in the city would come into our store, fill up their trolley with products, pay retail prices and the onsell them in theirs to their clients. For us, it didn't matter, we made the sale still - but eventually, their customers found us.
That is how things work in the real world. We deliver orders on their behalf to their clients direct from out factory so those are what I would call sitting ducks. I am not stupid and sat for hours in their offices and know many clients of theirs. From Monday I will be working on a few and the way things are companies will only be too grateful for the call as it is guaranteed savings. The middlemen will be forced out and become more specialised as there are too many people touching these items now.
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Will be interesting to see how it plays out. Keep us posted. :)
Yes I will do a follow up as this is like taking candy from a baby.
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!ENGAGE 20
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ENGAGEtokens.i am interested to see how this will play out in the following weeks/months. Will their move be "ok" and bring the profits or it will be a disaster
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