Tags |
|
|
Hub You - Top 10 Ways to Identify a Successful Reverse Auction Opportunity
Are you intrigued by the possibility of being your own boss and starting a business but not sure you have the right qualifications to be an entrepreneur? What are the characteristics of an entrepreneur? Although there is no single perfect entrepreneurial profile, there are many characteristics that show up repeatedly in successful business owners.Following are the top 10 essential entrepreneurial traits that anyone who is interested in starting a business must possess:(1) Independence – This is the most common denominator of all en
5) “Supplier change-over risk is low.” Look for areas where the cost to change suppliers is low. Keep in mind that costs are not just a hard dollar figure for the product or service you want to reverse auction. Think of all the other costs involved such as training, co
Have you ever wondered why some people seem to turn everything they touch to gold while you end up with a handful of lead? Do you comfort yourself by saying that they succeed because they were born with money, great looks, and a better education? Even as you do this, do you push away the knowledge that people like Zig Ziglar, Dave Thomas, and Ogg Mandino were born dirt poor and that Dave Thomas made a fortune without graduating from high school? I have spent most of my adult life studying the lives of people who are successful in life and in business because
Here is eDynaQuote’s Top 10 List:
1) “The dollar amount should be sufficient to generate the interest of potential suppliers.” The sufficient dollar amount will be relative to the market, but larger dollar volumes will generate a lot of interest from many suppliers. And the more interested suppliers you have in a reverse auction the better.
2) “You should have at least two qualified suppliers.” Have a documented supplier qualification requirement process in order for the vendors to know that their competition is legitimate and to validate your selection process. Qualifying your vendors is extremely important since you need to have your competition on a level playing field, and you do not want sub-par products or services.
3) “Write clear and complete purchase specifications.” You should know exactly what you want, how much you want and when you want it or your suppliers will not be able to bid apples to apples. A reverse auction is not an RFP where some details can be left to figure out later. You should be able to clearly specify your purchase before you choose to run a reverse auction.
4) “Define and document award criteria.” Since most commercial purchases are based on factors other than lowest price, you should define, document and make available to the suppliers your award criteria. You should be able to accurately tell your vendors exactly what they need to do in order to win your business.
5) “Supplier change-over risk is low.” Look for areas where the cost to change suppliers is low. Keep in mind that costs are not just a hard dollar figure for the product or service you want to reverse auction. Think of all the other costs involved such as training, co
If you get the hang of speaking to the press and you can establish a few good relationships, their contacts and outreach can be extremely beneficial to the marketing of your organization.If you've never spoken to the press before – it can be an intimidating task. Let us be the ones to tell you from experience that reporters are far too busy to help ease your anxiety, or extract the highlights of a story from you, before determining whether or not it's something worth writing about. It's YOUR job to sell your story. If you don't sound like you have faith
Here is eDynaQuote’s Top 10 List:
1) “The dollar amount should be sufficient to generate the interest of potential suppliers.” The sufficient dollar amount will be relative to the market, but larger dollar volumes will generate a lot of interest from many suppliers. And the more interested suppliers you have in a reverse auction the better.
2) “You should have at least two qualified suppliers.” Have a documented supplier qualification requirement process in order for the vendors to know that their competition is legitimate and to validate your selection process. Qualifying your vendors is extremely important since you need to have your competition on a level playing field, and you do not want sub-par products or services.
3) “Write clear and complete purchase specifications.” You should know exactly what you want, how much you want and when you want it or your suppliers will not be able to bid apples to apples. A reverse auction is not an RFP where some details can be left to figure out later. You should be able to clearly specify your purchase before you choose to run a reverse auction.
4) “Define and document award criteria.” Since most commercial purchases are based on factors other than lowest price, you should define, document and make available to the suppliers your award criteria. You should be able to accurately tell your vendors exactly what they need to do in order to win your business.
5) “Supplier change-over risk is low.” Look for areas where the cost to change suppliers is low. Keep in mind that costs are not just a hard dollar figure for the product or service you want to reverse auction. Think of all the other costs involved such as training, co
Marketing Ideas Without Action Get You NowhereYou want to grow your small business, but how do you do that? Many of the small businesses I work with are not really sure what works best, or how, or where to get started.We're all familiar with the term Marketing, but what in the heck is it really supposed to do for us?* Build brand awareness * Build name recognition * Increase market share * Get more clients * Generate referrals * Create more repeat businessMaybe you've tried some things in the past lik
3) “Write clear and complete purchase specifications.” You should know exactly what you want, how much you want and when you want it or your suppliers will not be able to bid apples to apples. A reverse auction is not an RFP where some details can be left to figure out later. You should be able to clearly specify your purchase before you choose to run a reverse auction.
4) “Define and document award criteria.” Since most commercial purchases are based on factors other than lowest price, you should define, document and make available to the suppliers your award criteria. You should be able to accurately tell your vendors exactly what they need to do in order to win your business.
5) “Supplier change-over risk is low.” Look for areas where the cost to change suppliers is low. Keep in mind that costs are not just a hard dollar figure for the product or service you want to reverse auction. Think of all the other costs involved such as training, co
Here’s something to test.Take your existing business-to-business direct mail package and make just one change: put two windows on the mailing envelope instead of one. Mail it and see what happens.According to direct mail author, publisher and speaker Ren? Gnam, “two windows usually get more attention and response than a single window.” In tests that Ren? conducted for his clients, two (or more) windows on the carrier envelope increased response rates. The increased sales also paid for the added cost of producing the special enve
4) “Define and document award criteria.” Since most commercial purchases are based on factors other than lowest price, you should define, document and make available to the suppliers your award criteria. You should be able to accurately tell your vendors exactly what they need to do in order to win your business.
5) “Supplier change-over risk is low.” Look for areas where the cost to change suppliers is low. Keep in mind that costs are not just a hard dollar figure for the product or service you want to reverse auction. Think of all the other costs involved such as training, co
Sure, we've all had those days. You head for work in a foul mood, dreading another eight hours of monotony and tedium. There's nowhere to go within the company and your boss is no help, so you fight the urge to tell off your manager and quit on the spot, just like in that old Johnny Paycheck song.Ever wonder, however, if it's not the job, but your perspective?For many people, getting stuck in a rut on their career path is a common occurrence. Lacking goals, motivation, or an ability to shake loose the ties that bind them, many workers simply play
5) “Supplier change-over risk is low.” Look for areas where the cost to change suppliers is low. Keep in mind that costs are not just a hard dollar figure for the product or service you want to reverse auction. Think of all the other costs involved such as training, compatibility issues and what the learning curve looks like.
6) “Have a good forecast of the quantities and dollar volume.” Be sure to aggregate accurate data on how much you currently spend. You should be able to clearly document what and how much you are buying so you can provide those details as historical data to potential suppliers. You could be short-changing yourself and not getting as big a volume discount as you could be.
7) “Only include similar items in the same bid package.” While you can have many similar line items in a reverse auction, you do not want unrelated items in the same lot or bucket. Keep dissimilar items separate to avoid confusion. This will also allow suppliers to focus on their core competencies, and not disqualify them from bidding if they do not provide one item in the lot you are reverse auctioning.
8) “Keep reverse auctions below ten line items.” You want to keep the bidding simple, so do not over-complicate it by adding too many line items to the reverse auction. You can say “see attached spreadsheet” and include many similar items for them to bid on in one overall line item. Once you get too many line items, the suppliers will lose their focus and not be as competitive.
9) “Clearly define an alternate submission process.” If alternates, substitutes or options are allowable, you will need to clearly define what the submission process is and make those alternates available for all suppliers to bid on. You still want an apple to apple comparison when using reverse auctions, so be as clear as possible as to what you will or will not accept as an alternate. You do not want to leave a potential supplier in the dark about what alternates you are willing to accept, or you run the risk of not having a successful reverse auction.
10) “A
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.iadvice.info/article/46272/iadvice-Top-10-Ways-to-Identify-a-Successful-Reverse-Auction-Opportunity.html">Top 10 Ways to Identify a Successful Reverse Auction Opportunity</a>
BB link (for phorums):
[url=http://www.iadvice.info/article/46272/iadvice-Top-10-Ways-to-Identify-a-Successful-Reverse-Auction-Opportunity.html]Top 10 Ways to Identify a Successful Reverse Auction Opportunity[/url]
Related Articles:
Corporate Hospitality in the UK
Bookmark it:
|