My number one business tip.

If you’re in business and genuinely finding times hard, let your suppliers know.

Yes, it might be slightly embarrassing. Your ego might take a bit of a hit, but you’d be surprised how willing suppliers are to help you through those times.

The reason they say yes is simple. Losing you costs them more than discounting you does. Replacing a client is slow and expensive, and a client paying less is worth a lot more than no client at all.

Of course, they’re not going to advertise this on their website, because opportunists will come along and take advantage. But if you drop them a message, most suppliers who actually care about your business will offer something while you regain your footing.

I’m not going to name the client, but our longest-serving client got in contact at the start of COVID. The industry they were in at the time had completely died.

The owner explained the situation. They assumed they’d have to leave Kimbley IT, which they didn’t want to do.

I told them exactly how much profit we make from their account, and said something like:

Look, for the next 6 months, we’ll reduce our profit if that gets you through this. Hopefully, that helps in some small way.

They’re still with us 15 years on.

Now, before you all try pulling a fast one, I will be asking for evidence 😁