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Dick Seesel

Principal
Retailing In Focus LLC

BrainTrust Query: Three Universal Truths to Creating Strong Business Relationships

December 7, 2012

FROM RETAILWIRE:
There are three recurring drivers of creating successful relationships with colleagues who are either co-workers or clients that universally apply to both external and internal relationships. What do you think is essential to strong business relationships?      [more...]

MY COMMENTARY:

Not all suppliers are equally easy for retailers to work with, and it doesn't pay to put too much value on a smooth relationship. The smart retailer will acknowledge that he or she has more influence than the vendor in some partnerships, and less in others.

It's important to understand the "balance of power"—for example, a hot designer brand willing to sell your store exclusively may at first have the upper hand. It's equally important—although a cliche—for both sides to pursue "win-win" outcomes, even though getting there may strain the personal ties between retailer and vendor.

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