First of all, I have to say a huge thank you for all of the glowing feedback we’ve received from one of our most recent articles on the pitfalls of vendor program. Unfortunately, this obviously struck a cord with a great deal of you throughout the industry. It’s a reminder that we can all be vulnerable at times.
In case you haven’t read it, here’s a link. In it, we compared the vendor programs to the “inpenetrable” Titanic. Of course, thanks to Leonardo DiCaprio, we all know how well that story ended.
If you’ll remember the story of the Titanic and its ill fated passengers, you’ll recall not everyone died that night. Similarly, the collapse of local vendor programs see some companies are able to find their legs and it isn’t just the biggest or the “luckiest”. Today I wanted to continue our conversation by answering the first question we had to ask ourselves after we lost 30% of our business overnight: (more…)