Suppliers and relationships

I was in Oslo this week to meet with one of our strategic suppliers, this was our first face to face meeting, so it was a bit of getting to know each other and feeling each other out, it was an interesting visit. The key things I want to bring out was that they were open and transparent, they did not waste time in getting to the crux off the matter and they were interested in how they could help us get better pricing and product. The were open on how they could save us money and how it helped them as well in there business,they were honest on there capabilities not over stating there position. I wish more companies would take up this model as it would make there business life more "profitable". They went out there way to make our trip as productive and hassle free as possible, with assistance on local travel etc...yes if we sign a deal it will be a multi-million dollar contract, but it goes to show that " Nice guys2 in business have there place, and I would rather be known as a Nice guy than the opposite, at least I can look in the mirror every morning and I am happy with what I see.

I have been reading a book by Mark Stevens called God is a Salesman, it is a good read, even if you are not a religious type, the key take away was:

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  Treat your Customers as part of the Family


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  Share your Customers Vision


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  People by trust before the buy products


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  Make Guarantees and stand by them


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  It's not the product that sells it's the provider


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  Listen a lot and speak little


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  You should never need to hold a sale


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  It is you that is the sells product not the Laptop/power point presentation

Slainte

Gordon

Construction your Board

Here are some thoughts on choosing board members.

Avoid "big names" For the most part, they are useless.
Select people who will attend each and every meeting, who will pay close attention to the business
Select people who have an affinity for your business, who understand your challenges and your opportunities
Avoid putting someone you can control on your board. In tough situations they will have a fiduciary duty to do what's right and you won't be able to control them when it matters most to you.
Don't let conflicts get in the way of selecting the ideal board member. Conflicts will be disclosed and can be managed. Many times the people who will understand your business best are conflicted in some way. There are ways to deal with this problem.
Make sure to have an experienced accountant/auditor on your board and have them run the audit committee. That is no place for amateurs.
Make sure to have at least two or three CEOs of comparable companies on your board. Make sure they are on the comp committee. Compensation issues are best handled by people who understand the talent market.
Select people who have the time to do the job right. Being a board member is a job. It's not a retirement perk. If someone cannot commit to attend each and every meeting and to spend at least several hours a week on your company, they are not the right choice.
Select people who will get along with each other. The very best boards I am on are friendly social active groups. Serious business doesn't have to be stilted and formal. It can and should be fun.
Above all else, look for great judgment and ethics.

picked up from Fred Wilson's thoughts on Board members..