A wholesaler buys from manufacturer and resells to retailers. If you are thinking of starting a wholesale business in any industry, here are 8 Tips For Starting A Wholesale Business based on my experience of running whole business in different industries.
1. Good Negotiation skills:
a. To persuade manufacturer to get the products at low price, you would also need to negotiate with them for the margins even if the quantity of purchase in not high.
b. Need negotiations skills to deal with retailers, pass on less margin to them, yet be competitive and retain sales.
2. Create a strategy to get the best possible price and margins through negotiation, collaboration, managing credit and cash, bulk purchasing. You may even have to book some import orders. Continue reading
There are 3 different kinds of investments, aligned to cash, bonds, and equities. Fortunately, the amount of information that you need to learn has a direct relation to the type of investor that you are. For example, making investments in the stock market can be scary for those who know little or nothing about financial investments, especially because stock prices are volatile, and can easily move down by 20% within a week of investment if negative news comes. If the stock is good quality, then the prices will bounce back as soon as markets stabilize. The stock markets are suitable only for a one of the three categories of investors.
There are also 3 types of investors: conservative, moderate, and aggressive. The different types of investments also cater to the three levels of risk tolerance: low risk, medium risk and high risk. Continue reading
What do employers look for in potential employees? That was the question that was posted recently on a career discussion forum online. Naturally, for each different position, the particular answers to that question would be different. However, there are some common skills that employers look for in all employees, irrespective of the industry or seniority. Following are 6 skills for success:
1. BASIC SKILLS: Reading, writing and arithmetic. Employers are seeking employees who can read well, can write coherently, and who can calculate mathematics in a business environment (fractions, percentages, etc.) Add to that basic computer knowledge (e.g. spreadsheet, word processing, etc.) to complete the basic skills needed for employment success.
2. PERSONAL SKILLS: Can a potential employee speak well? Can he/she answer questions in a positive, informative manner? Can the prospect provide good customer service? While not everyone has an outgoing personality, successful employees can communicate in a non-confrontational, positive manner with their team members, subordinates, management, and customers. Being able to work well with others is a vital skill for success in all jobs. Continue reading