Julie Duriga's Blog for Entrepreneurs

Increase Vendors or Increase Products? October 25, 2009

I had my first proposal for a question and would love to start some discussion and gather opinions…

My sales are good but stagnant.  Should I increase the product line or number of vendors?

I do believe that if your sales are stagnant and you are not seeing the increases that you would like that it is time to look at the data and see what your customers are interested in.  I would spend some time doing some reasearch to see what your competitors are doing.   What is selling well in the market place?  Of course, if there is a super star vendor out there that your customers will love, then by all means…but move carefully before selecting new vendors.

Increasing the number of vendors can and usually does complicate your life, the number of bills you have and the number of possible transaction increases.  I would try to leverage and maximize the current relationships that I already have before I started looking for new vendors.

Questions?  Comments?  Please write and let us know what you think…