Business Chops Tip #90: From Sea to Shining Sea: Do Your Suppliers Understand Your Local Economy?
One look at housing market variations from large metropolises to rural burgs is enough to remind us that the US is a collection of many microcosmic markets, each with its own economy. National labor standards also don't necessarily map to every market. That's easy enough for a regionally focused integrator to deal with UNTIL the cost of goods comes into play.
Manufacturers view prices nationally. As result, what's a good deal in New York may be way too expensive in "x crossroads." Dealers can provide valuable feedback. Manufacturers: Are you addressing local economies' uniquenesses in your targeted promotion and forecasting?
Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.