Good suppliers play an effective role in the progress of any company. You also need to select your suppliers through careful assessment of each available option because different suppliers have different characteristics. Therefore, doing a little research will allow you to lay a solid foundation for your operations ahead. Selecting the best supplier option for your Air Conditioning Company includes a scrutinizing process similar to every other company who chooses its suppliers.

Identify the potential suppliers for your company

Get a list of all the suppliers in the industry mentioning all their attributes and select a few that match most with your criteria.

a. Do consider the new suppliers in the market – Keep a close eye on the new players in the suppliers market because these new suppliers might have new technology to offer, they will offer lower prices in comparison to the older ones and they will be more flexible in their contract terms and conditions.

b. Follow a specific supplier selection process for the older players – As far as the old players are concerned a particular supplier selection process is followed. This process includes scrutiny of references of these suppliers, their financial status, availability of capacity, ability to follow the specifications and their quality assurance certifications.

c. Create a list of pre-qualified suppliers – This is called the supply base and the list will be referred whenever it’s time to award short-term contracts for your AC Company. In this manner there will be a competition for the contract award and the supplier who meets your requirements more consistently will win your contract most consistently as well.

Request for information

After a list is developed its time to contact the suppliers in a formal manner and ask about their goods and services. This may include a price quote, or general information about the products offered.

Negotiation process

This process involves different offers made by the suppliers to you and vice versa. Whatever is given up by one party is gain for the other one.

Terms & conditions for contract

After gaining all the intelligence about the market and getting the price quote the next step is to decide the contract terms. This include the payment and non-payment conditions, service level, specifications, quality standards and duration of contract.

Evaluation of each option and award of contract

After carefully analyzing each option and getting all the information and negotiations you will choose the best supplier for your Air Conditioning Company.

Monitoring suppliers

The process does not end at the contract award, in fact the real process has begun because you have to assess the performance of your supplier and more importantly, critically evaluate your company’s supplier selection process.

In short the most common criteria to choose the best supplier for your Air conditioning Company are;

i. Previous experience

ii. Past performance

iii. Quality Assurance standards certifications

iv. Potential capacity

v. Ability to meet the specifications

vi. Financial stability

vii. Availability of technical support

viii. Track record for improvements

ix. Time & Cost efficiency

x. Professionalism in business dealing

Jumping into business with your soul mate could turn out to be a miracle or disaster depending on how well you understand each other. The experience of being in business with a husband or wife could be tremendously rewarding at a time and in other ways could be a total failure. Balancing life and business can come easy while you have your soul mate as your partner. Inc magazine reports a column by Cadoux Hirshberg on Balancing Acts. It talks about the extremities of marriage especially while starting a business and how beneficial it would to honor and report to your spouse. The whole column talks about business soul mates from a woman’s point of view. The unwritten rule while running your business with a soul mate is that there is no scope for emotions in business.

Women are often victims of emotion and finding a balance between business and soul mates have always being a challenge for them. When it comes to dealing with everyday operation and cash flow emotional attachments will not work. The best way to run a business smoothly with your soul mate is to start doing things on your own than expecting your spouse to do it. This can help strengthen the relationship and can work progressively for your business. Giving sufficient room to grow could be the cornerstone of a successful business relationship especially when it is with your soul mate. Some of the rules include knowing who the boss is and not you always. Patience and practice can help breathe business success and hold the relationship upright. Also, the late rule is to separate business and personal life.

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The success of running a family business is to ensure that it does not ruin the marriage. Also, remember that doing business with your spouse may not be romantic as you think. There are three cardinal rules to be maintained while running a business with your soul mate. First understand the role and responsibilities. The best way to operate a business in style is to demarcate the roles and responsibilities. This also means that none should interfere in the roles of the other unless there is a crisis. The roles have to be allotted based on your strengths and weakness. If you have good PR skills, then take care of brand building. If you are good in finance, take care of accounts. Ensure that there are clear lines marked and only the outcomes are discussed. If you both of you are weak in a particular area, hire people to take care of it.

Communication is the key, keep silent after a fight doesn’t work in business. Keep the lines of communication open to discuss business. Patience is one attribute that can work in favor of your business. Speaking about your business to your friends can help vent your feelings and can work positively for business development. The success of your business lies in the strength of your business. Regular counseling sessions could add to the strength. Self leadership can help. Manage your life and business by not making it a burden by taking up leadership responsibilities. These rules can help run your business harmoniously with your soul mate.

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