Master and slave relationship; that’s how a leading transport operator once described many business relationships! Have you ever realised that some business relationships are like that?
When it dawns that you are a “slave” what do you do? After trying to change the operations process or increase the rates, one transport operator sacked his customer. As he could not make the customer profitable that was the right thing to do even though the customer was a well-known, large listed Australian company. Other smart operators also sack unprofitable customers; nicely. A major Australian bank says customers who are major suppliers to “masters” almost warrant being placed on their “Watch” lists. That’s because the “slave” often makes little or no profit or loses money supplying the “master”.
Do you have a written Strategic Business Plan to wean yourself away from over reliance on a "Master"?