Effective Business Meetings

How many of us actually sit down and have a business discussion with each of our vendors? I’m not talking about sitting down and buying. I am talking about having an open and honest discussion of your needs and goals and how that vendor fits into your marketing and inventory plans.

We highly recommend at least once a year to meet with every one of your vendors. The biggest vendor should be met with at 3-4x and the smaller vendor at least 1x.

Why- not only does it help to solidify the relationship, but you can be updated on new tools and products that can help you grow your business.

Agenda: 

 

  • Set business and profit goals and plans
  • Staff productivity
  • Marketing Tools available  and Coop
  • New Product review
  • Review YTD and Same time last year
  • Your challenges and problems/ problem solvers
  • Growing Business Ideas
  • Training Programs

 

Be Prepared- What you need to have

 

  • Agenda of topics to be discussed
  • Sell through analysis
  • Vendor Profile Sheet (if you have one)
  • Your Marketing Calendar and timelines

 

Close the Business Meeting

Get a commitment

Set up a plan/ goals for the next time period

Follow up

Always follow up with a business letter of confirmed discussions and agreements.

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  1. […] new office- times are tough- maybe you can’t spend a lot of money. First I recommend you have business meetings with each of your vendors to discuss sales, goals, objectives and most importantly how you like to […]