So you have an idea and want to start a business? Then your next step is to listen to a master class with The Supply Chain Guy to plan how to make money and get your product effectively to your customers. The current podcast episode walks you through the mine field and explains the concepts.
The Supply Chain Guy Rick Feltenberger speaks with a sense of confidence that comes from having worked for years with Fortune 500 companies and also knowing his stuff. He says with great authority that developing a successful business is more than having a great idea and has a lot to do with planning all the elements that will make the parts of the business work together to satisfy your target customer. You begin with the structure of the business, Corporation, LLC, or sole proprietor, and then how you plan to establish value for that customer. This last part is the most difficult because it involves finding suppliers, determining your costs, and then surviving through that scarey time while the market determines if you have set your price correctly.
If that wa
s not enough suspense for you, if people really like your product there have to be systems in place to make sure you have it available at the time customers want it. But, be careful not to buy too much and have items left over or too little and not be able to make sales when you need to. It’s a delicate dance that he explains quite simply as you listen during the podcast.
So things are humming along and product is flying off the shelves but how do you plan for the next round of products to add variety to your current lineup? What if your supplier’s cost start going up and your business is based on a rock bottom price. Or worse yet, your supplier is great but a reporter finds out he is paying slave wages and it is all over the news. This too is part of the supply chain.
These are all things that Rick covers with easy to understand explanations to really get you thinking about how not to become business road kill. There is a reason most small businesses don’t make it and supply chain management is a critical part of it. On that basis alone this episode is well worth the listen. And you thought it was as simple as “If you built it they would come…”
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