Your business exists in a constantly accelerating and changing realm. As a value-added reseller of technology, your clients are satisfied with your specialisations, but the nature and need for hardware is changing. Be careful not to overlook some basic methods to continue your company’s growth. Below are a few fundamental practices that you can start doing today to maximize your efficiency and profits.
A decade ago, the average consumer couldn’t have predicted to what degree cloud-based technology would be integrated into our everyday lives. As a VAR, it needs to be one of your top priorities. It isn’t possible to always predict what big tech innovations will come, but the businesses that stayed on the forefront of change and shifted their priorities, their plans, and the make-up of their departments (e.g. fewer sales personnel and more people in research and engineering) are thriving today. This doesn’t mean that you need to drop everything you’re doing as soon as a new trend comes along — instead, invest wisely in predictive analytics. Staying abreast of what innovations are being tested, and what other VAR companies are doing around the globe, is important. You can adapt to and thrive during the next big thing.
Speaking of business around the globe, the best way to grow your reselling business is to expand into foreign markets. It’s wise to utilize a global importer of record (IOR) to get lower costs on importing goods as well as tax assistance. Even logistical experts struggle with the changing rules and intricacies of each individual nation, and your goods can get stuck at customs, angering your clients and likely chasing away repeat business. An IOR like TecEx, for example, partners with businesses and clients along each point in the supply chain and has a solid and long-running record of importing into 160 countries. They offer speedy customs clearance and know the ins and outs of associated taxes, so they can easily assist with tax refunds if your company incurs indirect taxes in foreign destinations (e.g. VAT, GST, JCT and HST). It’s important to go with a partner that specializes in networking and telecommunications equipment, as well as other types of technology hardware, and not just all “goods” you happen to resell. P.S: HJS Recovery can defiantly help with managing all VAT related issues.
Grow Your Relationships
While you look ahead and expand to foreign markets and clients on different shores, do remember to respect the clients and relationships you have. Delivering on time, anticipating needs, providing solutions when things go awry, and simply being a pleasure to do business with goes a surprisingly long way. It’s a component that gets overlooked more often than you’d think, but, maintaining a positive and respectful relationship with vendors and customers will keep them coming back. Keep your clients happy around the globe by using an all-in-one importing and tax-saving service of an IOR, mentioned above, to help with this. Another important prospect to consider is partnerships. Why not partner with vendors or perhaps even another VAR whose business complements yours? Combine your resources, specialisations, access, and customer bases to bring your profitability and innovation to new heights.
Invest in research and analytics, be adaptable, save time and money with an IOR, and maintain healthy relationships while growing new partnerships, and your VAR business can weather any changes in this technology climate.
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