[MBV Playbook] Ch. 38 — Diversify your Suppliers (#198)
In this episode, we dive into a crucial strategy from Chapter 38 of the Maximize Business Value Playbook: the importance of diversifying your suppliers. While it may seem counterintuitive following our discussion on rightsizing service providers, having a variety of reliable suppliers is essential to ensure your business's resilience and operational continuity.
Discover why placing all your bets on a single supplier could be a risky move, especially in a world where natural disasters and unforeseen circumstances are more common than ever. We'll share real-life examples, including a close call with a tornado, that highlight the importance of being prepared. Join us as we explore actionable steps to create a robust backup plan for your critical suppliers and service providers, safeguarding the long-term sustainability of your business.
Tune in to learn how to strike the perfect balance between efficiency and security in your supplier relationships, ensuring your business remains unshakeable no matter what comes your way.
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Tom Bronson is a serial entrepreneur and business owner. He is currently the founder and President of Mastery Partners, Mastery Mergers & Acquisitions, and the Business Transition Summit. All three companies empower business owners to maximize business value and serve business owners in different capacities to help them achieve their dream exit. As a business owner, Tom has been in your situation a hundred times and knows what it takes to craft the right strategy. Bronson is passionate about helping business owners and has the experience to do it. Tom has two books to help business owners on their journey to a dream exit: "Maximize Business Value Playbook," (2023), and "Maximize Business Value, Begin with the EXIT in Mind," (2020). Both are available on Amazon.
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