Uncovering opportunity within your suppliers. Co-create new opportunities

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Businesses make money by solving problems in customers’ lives. Big problems are big money. But what if your customers start having problems you cannot solve anymore? You run the risk of becoming irrelevant to your customers.

You can solve the problem by employing new staff and buying resources that address those problems or you can hire some consultants. Both options are valid, but mostly time consuming and expensive.

I am more of the view of using what you already have – this way you do not risk more than you are willing to lose and you efficiently apply all they resources that you have available.

Co-create with suppliers

One of those resources is your supplier network. They solve problems within your business, making it possible for you to solve the problems of your customers. Why not explore that relationship in depth? Start talking to your suppliers about the new problems your customers are facing and how your supplier network can help you co-create new solutions to address those problems more efficiently.

You can get one supplier involved or many, it does not matter. What you get is access to a fresh perspective from people in another industry and with other resources you do not have access too. This is a resource you already have a relationship with and most of the time it will not cost you much, if anything at all.

Your supplier network gives you what the new employees and consultants would have given you at little or no cost. When last did you engage with a supplier to help you solve new problems in your customers’ lives? Engage and co-create with your supplier network and you could just uncover new and untapped business opportunities by solving a wider range of problems within your customers’ lives.

In my book, indivineur – Opportunity Accelerator | Start a low risk business TODAY, using what you have NOW, I discuss this co-creation process in detail. Get a copy today and start to co-create with your suppliers.

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