Tue, 22 November 2016
When a customer decides to cancel an order - a big order - it’s not an easy thing to handle. On today’s episode Manuel Becvar shares the impact a large cancelled order had on his business as it was just starting to scale. Manuel is the founder of Import Dojo. He has been living and working in China for over 10 years, with 17 years in the sourcing business. He has a unique perspective because he has his own brand, sells to retailers and is a supplier. He has worked with the biggest retailers in the world, developing, sourcing, and finding new products. These include: Wal-Mart, Amazon, Lowes, Sears, Home Depot, and many others. He is author of The Import Bible: the complete beginners guide to successful importing from China.
a glimpse of what you’ll learn:
In this episode…
Any product business lives or dies on the orders of regular customers. It’s a vital part of the way things work. When one of those large clients abruptly cancels a large order the company is depending on, something has to give. On this episode, Manuel Becvar tells of his lowest point in business, when a large client did cancel their order suddenly. You’ll be encouraged by the way Manuel handled this unexpected challenge, so be sure you listen.
One of the impacts of losing a big order is that the supplies and resources to fulfill that order may have already been purchased. That means cash flow is restricted and the ability to service other customers effectively could be hampered. Manuel Becvar tells how he and his company dealt with the loss of an important order, on this episode of Inspired Insider.
Many savvy business owners set aside reserve funds - savings if you will - for that unexpected event that could destroy the company if cash reserves aren't available. When Import Dojo was suddenly informed that a big order from a customer was canceled the company had to draw on its savings in order to offset the costs already spent. Manuel Becvar tells how the company rebounded from the disappointing loss of that order, on this episode.
When a customer order is canceled many things can be effected in a negative way: payroll, other customer orders, overall cash flow, and more. Every company CEO wants to be past the point of one lost order causing a lot of problems, but when the company is in its early stages, it’s almost unavoidable. Find out how Manuel Becvar and the Import Dojo team weathered the situation in its early days, on this episode.
Resources Mentioned on this episode
Sponsors for this episode
This is part of the Skubana Ecommerce Mastery Series</a> where top Sellers and Experts teach you what really works to boost your ecommerce business. Skubana is a platform to manage your entire ecommerce operation.
One of our sponsors today is www.Rise25.com where entrepreneurs of 6,7, and 8 figure businesses come together live and in person every few months to solve their biggest business challenges through this high-level Mastermind group. Each member leaves each week with lifelong friendships and actionable steps to take their business to the next level. Check out Rise25.com - a group run by myself and cofounder John Corcoran. Rise 25 is application only.