Tuesday, May 04, 2010

Best Entrepreneurial Quotes, Week 13

"Chinese suppliers build good relationships only as long as it is in their interest to maintain them, so it helps to construct relationships that will deliver enduring mutual benefits."
Marc Heinke, President & CEO, Precidio Inc., Brampton, Ont.

In an interview for an Ontario government report on leading growth firms, Heinke summed up the challenges facing established companies as they come to grips with foreign suppliers and a global economy. (Precidiio produces and sells tableware and drinkware.)

Says Heinke: “Some of the companies that are selling us blanks are now putting websites together and sending direct transmissions to all of our customers, saying: “Why buy from the in-between person when you can buy direct from us? You’ll save a lot of money.”

The solution? Know your market well; build great relationships. Have responsive customer service so that customers know you have their back. And create innovative products and market-leading designs that set you above the knock-offs.

“We need to move away from commodity goods," says Heinke. "We’re developing high-end lines and re-establishing ourselves as the leaders in these melamine and acrylic products in North America.”

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