Market Update

The U.S. reported GDP shrinking by 6.5% last quarter, yet entrepreneurs refuse to quit. The markets have changed, and new and creative ways for business need to be found in order to stay competitive. Even when the GDP is slowing and unemployment is rising, the sky is not falling. Since early 1990s, the U.S., along with its trading partners, enjoyed a significant growth. The stock market (judging by the S&P 500) grew 3000% at its peak in 2000, while GDP grew about 5.5%. Other than the global reaction to the September 11th attacks, the U.S. showed stable growth and success. As we know, in this world nothing lasts. Markets, customers and needs change, but the best way to deal with change is ... adapt. Modify your business strategy, cut some costs and keep your ear open to your customers.

Your Business

This month, we will discuss something that might be dangerous to us as a supplier, but we love our retailers and will sacrifice this knowledge for their success. In the current economy, the buyer hasthe power, it's a fact. Thus, if you are purchasing advertisement, supplies, services or other business expenses, you have the power. The easiest cost cutting tool in business and life is negotiations. In numerous eastern cultures it is a daily function to bargain and negotiate over such things as groceries or clothing, but often in North America we give in to final price tag.

Today we cannot compete if we continue to overlook this issue and ignore our power as the buyer. While entrepreneur magazine does a great job describing cost cutting negotiations practices, if you don't feel ready to haggle with your suppliers and hate confrontation simply ask, "Is that the best you can do?" In today’s economic times, buyers flock very few suppliers, especially in B2B sectors, so usually you will get a deal. Asking those 7 simple words could save you thousands that will flow directly to your bottom line. To learn more about negotiations and strategies Bargaining for Advantage by R. Shell is a great source.

Tulipia and You

With Tulipia bridal, you don't have to worry about negotiations. We work on individual level with all of our retailers, and are eager to help you. If you feel like you need a better deal, call us and ask, "Is that the best you can do?" We love our retailers and will continue to provide quality product and service to meet their needs.