Business Tip: Pretend You Are Bigger Than You Are
Just like meeting a person for the first time, businesses often make judgments on first impressions. Here’s a business tip that you might want to consider.
Other businesses are hesitant to give out information to consumers, so it helps if you can seem like your are a larger established business, even if you are just starting out.
Have your business formation information ready. EIN number, LLC documents, prepared W9, website and business email addresses prior to contacting vendors, suppliers, potential clients or distributors.
Product producers will often ask for this information prior to giving out bulk pricing for packaging and ingredients. They prefer that the small guy goes through a distributor. However, it is essential for your business planning to know what the bulk direct from distributor pricing will be…even if you will most likely not order from them for 6 months to 3 years.
Supply the necessary information and maybe even create an account. Get the information you need. Price per pallet, price per truckload, and lastly ask what the minimum order is.
This research will help you greatly in determining if your great hobby will also make a great business.
Read Another Business Tip: Where Is Your Profits?