My Product is no longer Available – HELP!

27 03 2010

Second Income Specialists

Hawgwash, LLC

Last week we discussed ideas on what to look for when your home based business is not earning as much income anymore. This week we are going to cover an even more uncomfortable topic, what happens when the product you offer is not available for you to sell anymore.

This is every home based business owner’s nightmare.  It is also the nightmare for anyone in an Multi-Level Marketing (MLM) opportunity too.  How many MLM’s did you know or hear about that are no longer selling the products they initially did, or worse, how many MLM’s did you hear about that are no longer in business?  This problem is what has given the MLM industry a very black eye and has caused many home based business owners severe heartache.  It is an inevitability though.  As the economy continues to decline, more companies and manufacturers will be going out of business or will be scaling back production.  What are you prepared to do if the product that you offer for sale is no longer available by your supplier, or even worse, what will you do if your product is no longer being manufactured? 

You may want to go out and look for other manufacturers that produce either the same or similar items to what you currently are selling.  You should be doing this on a regular basis, because if you find out today that your product is no longer available for sale, it is too late.  You want to be in a position to be able to negotiate with an alternate supplier before it becomes an urgent need.   If your supplier is the only one who manufacturers your particular product, is there someone else out there that produces a similar item?  Is this other company something that you can believe in and get behind?  If possible, it would be in your best interest to find another manufacturer of your specific product, and locate someone who manufactures a very similar product.  The reason for doing both is that you want to have the ability to negotiate, and in order to effectively negotiate, you must have options. 

To keep your options open, go out and re-investigate who else carries or manufactures your product.  You would have done this research when you first got involved in the business, basically all you are doing is updating your information.  You want to have current information since the economic climate has been changing so rapidly and radically.  Another place to look is to your competitors.  Are they selling the same product?  Are they getting it from the same supplier?  Do they have alternate plans? 

What else you could do in order to lessen the impact of you losing one of your product lines is to have other products / opportunities already operating in your business.  As nice as it may be to offer one product, by only having one item or class of product, if your supplier folds, you are stuck.  It is always wise to have backup plans and other products to offer your customer base.  That way, if one item is no longer available, you already have another product in place that you can move the emphasis towards.  The key is to remain flexible and keep a few different products active for your home based business.   You never know what is going to happen, nor are you entirely sure that your customers may change their purchasing patterns and no longer desire what you are offering.  By having a few different product lines available, you are able to meet more varied needs of your customer base.  By expanding into a few different areas, you keep your home based business flexible and prepared to meet the economy’s changing demands.

If you are looking for other opportunities to add to your existing arsenal, or you are looking for that first home based business opportunity, please feel free to contact us for suggestions or recommendations.  We have several home based business opportunitites available, from waterless vehicle cleaning products, to cutting-edge nutritionals, to Pre-Paid Legal Services.  If we do not have anything that would complement what you already have, perhaps we can provide you with suggestions for what would work with your business. 

Until next week…

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