If you are I hope you are aware of these facts;
- Major companies with large bank accounts and volume purchasing are the winners with this strategy.
- If you want to compete with the Wal-Mart’s of the world it is only going to happen through specialization and excellent customer service.
The idea of specialization and excellent customer service is something I can relate to. Back in 1979 I started my first business. It was a combined manufacturing and retail business. After trying to compete based on price, I changed our business format to be one of specialization and service. The result – from the end of our first year in business to the year we sold our business (11 years later) the sales increase was just over 600%.
Isn’t this the type of sales improvements you want? Specialization and excellent customer service is the way to achieve this type of growth.
How can you improve your business format today?
PAYING TOO MUCH… PAYING TOO LITTLE
ReplyDelete“It is Unwise to Pay Too Much... But It is Worse to Pay Too Little.”
“When you pay too much, you lose some money... that is all.
When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was supposed to do.
The common law of business balance prohibits paying a little and getting a lot. It can't be done. If you deal with the lowest bidders, it is well to add something for the risk you run. And if you do that, you will have enough to pay for something better.” - John Ruskin (1819-1900)
A wise person once said… “When you buy the very best, you only wince once?”
Great comments Duke.
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