Things To Consider When Selecting A Business Partnership
Before signing a partnership with any business there are things that you must consider. Within the cabinetry industry, Westridge Cabinets partners with many resellers, condo developers, and home builders. There are certain considerations that you should explore when establishing a partnership. These include establishing objectives, defining the target customer, building trust, balancing expectations, and reviewing the relationship.
Considering A Partnership
In any business partnership, one company always invites the other to partner. Whether you are the company inviting, the other to connect or considering the business proposition, there are many variables to consider. Any queries or concerns about the partnership should be written down to ensure all your questions are answered.
Trust your instincts, but keep your options open. If your initial response is “No way, I would never partner with them!”, why is that? Do their values not align with yours? If so, which ones? Do they have a bad reputation, if so, why? All of these questions will help to define your brand’s objectives moving forward.
If you are interested in collaboration with a company, proceed to have a conversation about aligning yours, and your potential partner’s objectives.
Explain Your Objectives
There is always a meet and greet between the two parties where you can discuss your business aspirations, the types of customers that you serve, and your customer’s unique needs.
When you meet with a potential business partner it is important that both of you are clear about your expectations. More importantly, understanding how we can exceed the customer’s expectations together. This initial meeting should be treated like a job interview. It’s to see if the proposed partner will align well with your brand, and will be a positive investment for your organization.
Give your meeting a purpose, define what the ideal partnership looks like and map out steps to make those ideals a reality. The agreed business mission statement should be recorded in order to keep both parties accountable.
Westridge implements these practices when meeting with potential business partners. Our team ensures that they understand the pace and scheduling needs of each project. The standard of quality is never sacrificed due to time constraints. Our manufacturing facility is local, and fully equipped to handle any hiccoughs efficiently.
Trust Based Partnership
Once you have negotiated values and expectations to ensure you’re on the same wavelength, the next step is to build trust. This is achieved by exceeding expectations and ensuring consistency in performance as partners.
Luckily, Westridge has their assembly room as part of the head office. This makes quality testing easy, as the supply chain is located on site. Quality standards are something that outsourcing companies struggle with, so communication about your expectations must be clear if your products are outsourced. The main elements when building trust is having the right balance of quality, price, and turnaround time.
Balancing Quality, Price, and Turnaround Time
Getting the right balance of the 3 elements of service, quality, price and turnaround time. When you and your business partner sit down and discuss a business plan, this will need to be discussed. The triangle is a strong communication tool, you may select 2 of the elements to focus most of your attention on.
You may recall the quality pyramid that refers to a product being two of each, cheap, fast and high quality. This is an appropriation of the pyramid, as we never produce cheap products and we always produce good work.
In our triangle, quality means that we ensuring the finest detailing in cabinetry work. Does the client want handcrafted, elite, one of a kind craftsmanship? This requires a longer timeline to ensure all the details are finely crafted.
Quality and Time
Elite kitchens are a work of art. If you would like unique, finely detailed quality cabinets this will, naturally, take time. Westridge prides itself on having prestigious kitchens and the more detail that we apply to the cabinets, the more unique, but also the labour time will be extended.
Time and Price
The relationship between price and time are directly correlated. If we spend more time on a cabinet it will cost more, also if you would like cabinets quickly the price will cost less. Think about what your needs are? Do you need bulk cabinets at a low price or do your clients like a small amount of fine detailed cabinets. Price is a huge deciding factor for your clientele, so it is important to understand how much they would like to spend, and when they need the finished product.
Price and Quality
Price influences quality, if you would like the finest wood in your kitchen but aren’t willing to pay the price you may have to settle for a look alike material. Like all industries, you get what you pay for and it is all about finding the right balance between what quality you want or need and how much you are willing to spend.
Westridge has implemented individualized value engineering, this is defined by the specifications of the project. Quantity never sacrifices the quality standard. No matter what your budget is we will always discover your goals of an ideal kitchen and help you build to the time, quality, and price that you have in mind. Arguably the most important part of any service is the people that you work with. We pride ourselves on our knowledgable staff that are willing to go above and beyond to meet your expectations.
If you are a partner or looking to partner with Westridge, please don’t hesitate to get in touch with our friendly team! We pride ourselves on working with you to achieve your goals and understanding your needs.
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