Are there services that your customers or principals need and other reps in your territory supply that you have been reluctant to supply? When you start to think about selling your rep firm, the prospective buyer will value your firm more highly if you have deep relationships at all levels with your most important principals. Do you visit key principals periodically to build those relationships?
If a few key players at your customers retire, will your orders be in jeopardy? If a few key players at your principals retire, are you at risk to lose the line?
Whether you see it or not, there is always someone nearby, looking in your direction, holding a straw. To maintain the value of your rep firm, you must remain vigilant and keep their straw out of your milkshake. yavi | stock. adobe. com
Charles Cohon
Charles Cohon, CPMR, is CEO and president of MANA. In 2016 Cohon earned the Certified Association Executive( CAE) designation after completing American Society of Association Executives( ASAE) coursework and testing. Cohon also earned an MBA with honors and with concentrations in strategic management and entrepreneurship from the University of Chicago Booth School of Business, and was founder and owner of a very successful Illinois manufacturers’ representative firm for nearly 30 years before joining MANA.