I do want to call out a few key statements in this article:
- Ultimately, each party is out for the same thing: to take care of the customers, grow the business, and be profitable.
- We found it much easier to create alliances when partners aligned themselves to the same vision and committed to accountability
- It all begins with the Golden Rule: Treat others as you'd like to be treated
- We realize the importance of communication, and if our partners are trying to reach us, we need to be responsive
- If we created true transparency in our business, not only would they help us, they'd benefit as well
- Negotiations at Zappos are a bit different as well. Instead of pounding vendors, we collaborate
- We know there’s no way we could’ve achieved our success as a company without our vendor’s commitment and passion, so every year, we like to show a little gratitude
- All of this is because of the trust we’ve built….we respect and value our relationships
I could not have written this article any more clearly than Mr. Hsieh has done it. We truly grow and succeed based on how well we are able to build and maintain and nurture our relationships. We want to focus on the customer, but I am here to scream that there are equally important relationships with our vendors and distribution partners. And the sooner you learn that – the sooner you will start to truly grow and succeed. If you don’t get it – as the article states – you will like find the “death spiral” most retailers find.
Relationships matter; and few are as important as those you build with your key vendors. Get them right, invest in them wisely, and they will take you far. Fail here and you can start planning for your next job!
