If you are hinging your company on one supplier, then you are potentially in a lot of trouble. Slowdowns and missed shipments can not only damage your reputation, but also cost you money. He offers entrepreneurs a strategy for dealing with suppliers.
Entrepreneurs have to be flexible so that they can respond to problems.
They need flexible and diverse sources of supplies. If you are hinging your company on one supplier, then you are potentially in a lot of trouble. You've got to keep suppliers diversified and you have to keep your eyes open for new opportunities and new relationships that you can establish. The other important thing is to establish the right standards and performance levels with your suppliers so that you understand what they can do and what you expect of them. So much of business is about communication.