Wednesday, 21 October 2020

How Do You Approach Sourcing Materials for Your Business?

* Collaborative post  

Perhaps one of the most difficult things about starting up a business is sourcing all the different materials you need to get your work done. You might have a fantastic idea and a strong team to execute it, but you also need to find an affordable way to get things done. This generally only applies to businesses with a physical element, such as contractors or even a bakery. However, it could also apply to businesses that have a heavy emphasis on the digital element. For example, purchasing things like Windows licenses or computers in bulk can be expensive if you’re not sure where to look for discounts.


So how do you go about sourcing materials for your business? How do you source all of the things that you need to run a company effectively?


Source


Networking is important to create contacts


One of the biggest responsibilities you have as a business is to network. When you go to any kind of trade show or networking event, make sure you’re giving out business cards and taking other people’s cards. This will help you create a much larger network of potential clients and partners to work with.


This will help you find niche products that only some industries need. For example, if you’re in the construction industry then you may need something uncommon such as waterproofing products. Brands such as Visqueen specialize in a wide range of protective coatings, but you likely wouldn’t find out about these brands unless you met them at networking events or have done extensive Google searches. Alternatively, you may have heard about them via a business acquaintance that recommends them.


Networking is extremely powerful when sourcing materials to run your business. It can even lead to discounts if you’re great at negotiating and sniffing out a good deal.


Straight from the source or going to a reseller?


There are also times where it might be beneficial to go straight to the source. For example, if you’re purchasing licenses for Windows, then you may want to consider speaking to Microsoft directly. This will ensure that the product licenses you get are genuine, but it also means you’ll be paying the recommended price.


Alternatively, you could speak to a reseller. There are lots of companies that can obtain software licenses and hardware in bulk. This works out to be a lot cheaper for the reseller and means they can pass the savings on to companies such as yours. There are lots of effective ways for them to reduce the costs on things such as computers and hardware as well. For example, they might offer cheaper refurbished computers which are fantastic for starting a small business. It’s a much more viable way for small business owners to save on operating costs and there are plenty of reputable stores that focus primarily on quality refurbished goods due to the volume of parts and software license keys they get.


In short, you may want to go straight to the manufacturer or producer of something if you want reliability. However, you could save a lot of money if you look for resellers instead.


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