What It Takes to Build a Steady Buyer Seller Relationship

COVID-19 response: We are giving our premium membership for free to every business out there. It is our mission to help and support SMEs always.

What It Takes to Build a Steady Buyer Seller Relationship

April 06, 2020

Regardless of what link you are in the supply chain, the principles which a buyer seller relationship is based upon are virtually the same. Yet, somehow, around 80% of B2B leaders have switched suppliers at least once in the past 2 years. These numbers show that the majority of relationships between buyers and sellers have issues which ultimately lead to breaking up the collaboration.

Consequently, the question arises: how to build a long-lasting customer seller relationship? It definitely isn’t by keeping it one-sided and thinking only about your profit. 

We’ve talked about the importance of buyer seller relationship previously and stressed some important factors. In the same fashion, this article continues on the topic and dives deeper in the complexity of buyer seller relationship.

How Price:Volume Affects the Buyer Seller Relationship

If you’re a novice in B2B, your first instinct might be to seal the deal with as many buyers as possible. While this seems like a great strategy to increase your profits, the scenario is not very probable, at least not in the long run.

Studies have shown that sellers that have established solid, both-sided rapports with fewer buyers, actually turn better profits and have a steadier cash flow.

How does that work? At first, the customer seller relationship is one-sided and not very favourable for the seller. They offer lower prices to the buyer with the purpose to bait higher volumes which usually doesn’t happen at the beginning. However, after a while, the buyer recognises the value they get and increase the volume. The relationships become two-sided.

Be careful, the value the buyer is supposed to get does not include only product quality. Negotiating skills must be put to good work alongside with truthful effort to nourish the relationship. This is where we arrive at the next point which we’ll elaborate on in the paragraph below.

The Service-over-Sales Approach Fortifies Customer Seller Relationship

The reason why most buyers change suppliers is because they’re needs are often unheard. In other words, sellers don’t pay attention. 

The first and foremost lesson coming out of this is: put the focus on the service, not on the sale. Listen carefully to what the buyer is saying and always tend to find a common ground. It’s important to remember that both sides should be satisfied by the outcome.

Combine technology with human efforts to create a seamless experience for your customers. Nonetheless, never make the mistake to dwell entirely on tech. Where AI and ML fail, real humans excel. Find the right balance between these two and remember that a buyer seller relationship is as strong as the effort put into it.

Bonus Tip: What to do when you need to find new buyers and suppliers

Be present on the B2B platform Enterprise League and you can easily find new buyers and suppliers when you need them. Enterprise League can be of great help when it comes to succeeding in building strong buyer supplier relationships. On one side, you can publish business tenders and receive companies’ bids. While on the other side, you can share your offerings and get contacted for prospective collaborations. The entire platform functions on AI working in the back, facilitating the B2B collaborative process.

More must-read stories from Enterprise League:

Related Articles

Get Ahead VA – The Most Flexible Virtual Agency

Get Ahead VA – The Most Flexible Virtual Agency

Get Ahead VA – The Most Flexible Virtual Agency

March 24, 2020

Athena was born from Zeus’ head after he suffered a severe headache. How was Get Ahead VA born?

After a corporate career in buying for retail giants such as Superdrug and Sainsburys, I was looking for a flexible work solution that could fit around my three daughters – now 18, 16 and 14. Having grown up with a successfully self-employed mother, I knew it was possible to be able to contribute financially to the family and to do school drop off and pick-ups too. My mum was a great example and I grew up knowing that I wanted one day to run my own business just like she did. 

Once my youngest started school in 2010, the time was right to start something for me. I looked at various business ideas and the way the employment landscape was shaping up for the future. A virtual assistance business seemed to offer the best solution. I have always loved networking, which is such a big part of my role now.

How would you describe Get Ahead VA to a 3 year old?

At Get Ahead VA we help businesses and the people who run them to do what they are good at. Our team of over 40 helpers take on the things that they can’t do, don’t want to do, or don’t have time to do, so they can get back to what they like best.

Why is Get Ahead VA different from the rest?

Our business is totally flexible. That’s the reason I set it up in the first place so that I could work flexibly around my children. All of our VAs work flexibly and remotely. Many of them are also mothers who have decades of experience in their field yet struggled to find meaningful part-time or flexible work. Working for Get Ahead VA allows them to use their significant skills yet work flexibly around their families. 

All of our clients pay for our services in a flexible way, so that they only pay for exactly the skills they need, when they need them. We don’t have minimum contracts or tie ins. Our clients simply work with us on an hourly, project or ongoing basis – whatever is best for their business. 

We’ve won awards for our commitment to flexible working including winning the Flexible Business of the Year in the Mum and Working Awards which is something I am very proud of. I have also recently been selected onto the #ialso100 – a list of 100 inspiring female leaders across the UK, and we have been shortlisted in awards for Talent Attraction, Networking and regional company of the year awards.

Get Ahead VA is given $1 million, how would you spend/invest?

Wow! That’s a tricky one. I think I would use it to invest in physical offices and a co-working space. Whilst I love the fact that our business is virtual, I am also a fan of co-working and collaboration, so it would be great to create our own space and welcome other businesses. Face-to-face communication can really help build business relationships.

Get Ahead VA is given $1 million, how would you spend/invest?

Wow! That’s a tricky one. I think I would use it to invest in physical offices and a co-working space. Whilst I love the fact that our business is virtual, I am also a fan of co-working and collaboration, so it would be great to create our own space and welcome other businesses. Face-to-face communication can really help build business relationships.

Where is Get Ahead VA headed now? What’s the next big thing you’re striving to achieve?

Right now, I am focussed on growing our franchise network across the UK. We already have regional directors in place across Newcastle, Leeds, Reading, West Surrey and South Yorkshire. I really enjoy bringing new franchisees on board and helping them to achieve their dream of running their own successful business, whilst being there to support them every step of the way. 

We talk about going into business for yourself, but not by yourself. All of our regional directors are part of our team and we all work together to share expertise and support each other. It took a lot of hard work to get the franchise offering just right but seeing our franchisees enjoying running their own businesses and being able to mentor them makes it all worthwhile.

With today’s experience, what advice would you give to yourself on your first day as a business owner?

Don’t be afraid to ask for help. In the beginning, I wanted people to think I was an expert. That I knew it all. Which of course I didn’t! Actually, I have found that asking for help can be a great relationship builder. It can open up conversations and gain people’s trust, which is an essential part of any positive working relationship.

On the flip side, don’t always trust that everyone who claims to be an expert. For example, I worked with a few different accountants until I finally found a company that understands my objectives and supports me in achieving my goals, as well as working in a way that suits me.

How would your employees describe you?

I would like to think they would describe me as passionate, positive, straight-talking and supportive.  I feel lucky to have met so many great people since I started my business and have such a talented team working for me as both team members and franchisees. It’s been a pleasure to meet every one of them and welcome them on board.

  Rebecca Newenham, Founder & Director of Get Ahead VA

It’s Women’s History Month – name 3 ladies who inspire you to be a better leader and tell us how and why?

My mother has always been an inspiration to me. She showed me it was possible to work flexibly and run your own business around your family. That’s the ethos of how I run the business how. I love what I do, but I always remember the reason I set it up in the first place. Family comes first.

I think Michelle Obama is a real inspiration to any woman. Her ‘Becoming’ book made me think about finding my own voice and being true to myself as a leader. 

Karen Brady also inspires me to be a better leader. Over the years I think she has become one of the highest-profile, most respected female business leaders whilst raising her two children. She is passionate about supporting women in business and has a strong belief that hard work and ambition can make any dream a reality. I love her can-do attitude, encapsulated in her quote: “You can’t determine where you start in life, but you can determine where you end up.

You’re the only woman entrepreneur in a room full of men talking business – how does that unfold?

Throughout my career, I have worked and networked with both men and women so this wouldn’t faze me. Whilst men and women bring different qualities to the workplace, there are also plenty of similarities and much common ground. The topics we discussed might be different from a room full of women talking business, there would still be much to talk about and learn from each other.

As a closure, which business lesson would you like to share with other entrepreneurs?

Losing my first team member was a hard lesson to learn. At the time, she told me she was going to work for one of my clients and I was surprised and upset. Not only was I losing a valued member of my team – but I was also losing a client too. It was a situation I had never experienced before and at the time, something I took quite personally. 

But as I reflected on it, I realized that actually, losing that member of staff was a compliment. Through our business, we had established a need in our client’s business and fulfilled it. We had fulfilled it so well that they wanted to continue it on a permanent basis. We had enabled the business to grow to a point where they were confident enough to take on a permanent member of staff. It was an example of our success – not our failure. An opportunity for future growth, not a step backward.

It taught me the importance of a positive growth mindset. I learned a valuable lesson about being a successful business owner by being able to see long term benefits as well as short term gains or losses  and being able to find the strength to overcome challenges and believe in a positive future.

More must-read stories from Enterprise League:

Related Articles

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

OggaDoon – An Ethical Guerrilla Comms Business

OggaDoon – An Ethical Guerrilla Comms Business

OggaDoon – An Ethical Guerrilla Comms Business

March 20, 2020

Athena was born from Zeus’ head after he suffered a severe headache. How was OggaDoon born?

After many years of rumination! I didn’t take a straight line to being an entrepreneur because I am, at heart, a storyteller and it’s those skills that have taken me on this interesting adventure and who knows where next. 

After turning around a wine bar from loss to profit in less than a year at the age of twenty-five, I knew I wanted to make a difference through my entrepreneurial skills. After being a partner in an environmental comms firm, I recognized two things: that there needed to be more focus on the world we lived on and how we could save it, and that I wanted to do comms differently.

OggaDoon was born: an ethical guerrilla comms business dedicated to working with brands with passion and purpose. I have built the business to deliver globally to clients of all sizes.

How would you describe OggaDoon to a 3 year old?

OggaDoon tells the stories of companies and people in them that are doing good in the world. Some of those companies are building sustainable houses, some are helping cities to save the planet, and some are helping us to understand our bodies more. No matter who we work with, they need to love what they do.

Why is OggaDoon different from the rest?

The phrase ‘ethical marketing company’ can make people raise their eyebrows, but I don’t see any conflict in accelerating a brand’s growth through sharing impact, and holding to strong ethical values. It’s why we work with businesses with passion and purpose, and why we keep to very strong environmental actions: working in an office that uses renewable energy and rainwater in plumbing, going paperless over 8 years ago, and rewarding team members with extra holiday days if they don’t fly. We’re also underestimated at times. Whether you meet us in our London or Bristol offices, we punch well above our weight for the team size, because I have outstanding people in the business.

OggaDoon is given $1 million, how would you spend/invest?

Ohhh, great question! The natural bon viveur in me would say celebration.

The business Caroline says the first stage is to give 10% to one of my favorite green charities – it wouldn’t feel right hanging onto all of that when the world is burning, flooding, and literally being destroyed by human actions. 

Then I think I’d reward the team with a little something. We work hard and a work/life balance is critical to me, and so I’d like to thank them directly. 

Lastly, if the business doesn’t need investment, it would be becoming a comms/marketing partner and investor to a number of startups that just have the edge.

Where is OggaDoon headed now? What’s the next big thing you’re striving to achieve?

We’re in the middle of a big growth spurt, with our reach spread across the UK and further afield. We’re working with some seriously interesting  brands in cybersecurity, healthtech, and edtech, green tech and prop tech five areas of ‘tech for good’ that I’m really passionate about as well as exciting businesses in the green space and those led by social value

I think the next big thing I’m striving to achieve is maintaining the happiness in the team, and using new technologies to measure the successful impact to our clients. It’s all to contribute to becoming a recognised leading business in guerrilla marketing and PR.

With today’s experience, what advice would you give to yourself on your first day as a business owner?

Caroline: You were right. Sustainability and clever technologies that empower sustainable changes are absolutely the future. You may have spotted this earlier than everyone else, and you may feel a little on your own right now, but you are going to see such changes in the world. Soon there will be more businesses than you can count trying to make a positive difference, and you’re going to be in the heart of it all. Also, just do it.

How would your employees describe you?

It’s a strange position, being an entrepreneur: you work so closely with your team, seeing them more hours in the day than your significant other!

I think my employees would describe me as passionate, driven, detailed, an observer of life with social witticisms and a food-lover. And dog-lover as well, of course – Bonnie the dog is our intern.

  Caroline Macdonald, CEO and Founder of OggaDoon 

It’s Women’s History Month – name 3 ladies who inspire you to be a better leader and tell us how and why?

Clearly number one is my Mum. She achieved so much and without a fuss or fanfare. She taught me to simply go on about my business, that anything is achievable.

Queen Elizabeth II. I’m not particularly a royalist nor a republican but this woman has shown tremendous leadership, not always getting it right, but she is progressive and cool. You have to admire her qualities of a steady hand on a ship that is rocky at times.

Jasmin Paris. Breastfeeding whilst winning a tough terrain race shows you what you can achieve if you put your mind to it.

You’re the only woman entrepreneur in a room full of men talking business – how does that unfold?

Just like any other meeting; it’s pretty commonplace for me. Actually, running a wine bar set me up. Frequently, the customers would become merry, shall we say, and at times, some of the men became belligerent. Using the feminine guile, I diffused many situations that could have escalated. Now in a room full of men talking business, it’s good fun. You engage with a few light touch questions, then go in for the killer inquisition. Then they know you know your stuff.

I think I’ve been fortunate. In the almost ten years of running my own business, I’ve never been treated badly simply based on my gender – but then, I think that’s because our results speak for themselves.

More must-read stories from Enterprise League:

Related Articles

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Year in Review: 2019

Year in Review: 2019

Year in Review: 2019

[rt_reading_time label=”” postfix=”min read” postfix_singular=”min read”]
how do i find wholesale suppliers
As I sit down to write this post, we are winding down our busiest season in business ever and I am feeling so very grateful for all of the work and opportunities that 2019 brought our way. This year was the year we launched Enterprise League and while we are still learning, we feel like we have found our groove when it comes to: implementing the Build, Measure, Learn system, collaborating with our members and more. 

This year in review I am sharing with you the things that did work, didn’t work and future plans for 2020. 

What Worked

  • Processes, systems and workflows

I cannot repeat enough how setting up efficient processes and systems has saved us so much time while building Enterprise League. We launched as a b2b platform, measured and learned that we need to shift our branding to an online business club. We redesigned our UX, web and blog, we keep releasing new features and updating existing ones. It has all been the result of the Build, Measure, Learn system and we don’t plan on shifting perspective anytime soon. 

  • Building the EL team

Although there were a couple of partnerships this year which didn’t turn out as a good fit, the current team at Enterprise League have been invaluable to us. The team has proven that amazing things can happen when you loosen the grip on your business and make smart hires. 

We learned and for every new potential teammate, we require a probation period to connect with the project and other teammates. This period served as a great way for both the potential new team member and the current team to determine if we were a fit for working together. 

Remember: for every non-ideal teammate you choose to bring in your team, you’re robbing yourself of a partnership that will bring you a harmonious, inspiring and driven work atmosphere.

What Didn’t Work

  • Working while traveling

Much of our gorgeous Tuscan holiday were actually spent in our apartment room where the wifi was strongest trying to efficiently work for a couple of hours with our remote team. It seemed like it would be doable and productive however it mostly resulted with missed moments and explorations at the expense of a work that could have been delegated. But it was early days of the team and we were still becoming accustomed to each other.

We would advise to certainly avoid mixing work with travel, it’s better to be fully present in one place, than not present in any.

Future Plans

  •  Release more membership plans and even more new and better benefits

As we analysed and learned from our early beginnings we found ways to polish and add more value to our member experience. Starting from January 2020, new members now have the opportunity to join Enterprise League with a lifetime premium membership (later available at a fee) free of charge. The premium membership offers new and refined business tools, that have been and are being added onto the platform continuously. 

2020 is currently tracking to be our year with even more campaigns, features and members, and I can’t wait to see how the next year pans out. We look forward to continuing to expand the club and its business benefits while also continuing to partner with business members and together achieve our mission of giving more business opportunities to small and medium sized businesses.

Wishing you a happy New Year, 

Irina, Co-founder and CEO 

 

more in Business Insights

Let’s stay in touch

All our latest business knowledge delivered to your inbox a few times a month

The Changing Station – Changing the World One Diaper at a Time

The Changing Station – Changing the World One Diaper at a Time

The Changing Station – Changing the World One Diaper at a Time

September 09, 2019

Changing Station logo

Happy Monday, friends! May this week be filled with fresh opportunities and good business deals. 

Have you noticed that certain items from the past, that went into oblivion over the years, are making a strong comeback? They are usually more planet-friendly and less health-risky compared to their modern versions we prefer to use today. Cloth diapers are definitely on the list of products that have been revamped and put back on the market to “overthrow” disposable diapers that are causing as much skin rash as damage to the environment.

Jessi Belt, the founder of The Changing Station, our respected member, has a lot to say on the matter. Her lovely daughter, who soon turns one, was the main inspiration behind her business. Everything about The Changing Station is built upon love, so it’s no surprise that she carefully selects the products sold at the travelling diaper store, as she likes to call it. Dwelling on natural baby care products and super-cute designs fit for every boy or girl, their catalogue offers everything a family with a newborn needs.

We had a brief chat with her for the needs of Members of Enterprise League, but the story goes way beyond it.

Athena was born from Zeus’ head after he suffered a severe headache. How was The Changing Station born?

My company is 100% inspired by my daughter. We chose to sell cloth diaper and found out about the modern cloth diaper and I knew there was a need for all families in my area to know more.

With today’s experience, what advice would you give to yourself on your first day as a business owner?

You will hear ‘no’ a lot. Keep going!

Share a curious fact or an anecdote related to you as an entrepreneur or your business

The average child that uses disposables diapers creates almost a roll-off dumpster of diaper waste that will not decompose for at least 450 years.

What’s one thing about your business that you absolutely adore and makes you get up from your bed in the morning?

I am getting the opportunity to help families.

What is so special about your company that you wish more people would understand?

I am not only a store but a resource for families in my area.

Where is your company headed? What road are you walking on?

My company is headed in the direction of success. I am building it on a strong foundation to keep moving forward.

More must-read stories from Enterprise League:

  • Need help with your business admin? Meet our member Get Ahead VA.

  • Need better PR for your company? Meet our member OggaDoon.

Related Articles

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.