WEBVTT 00:00:02.290 --> 00:00:05.150 Welcome to the Promo Playbook, the podcast where 00:00:05.150 --> 00:00:07.650 suppliers come to win in the promotional products 00:00:07.650 --> 00:00:10.849 industry. We're your hosts, Lisa Faustek and 00:00:10.849 --> 00:00:13.910 Adrienne Barker, bringing you insider insights, 00:00:14.490 --> 00:00:17.170 expert strategies, and no fluff advice to help 00:00:17.170 --> 00:00:20.469 suppliers navigate the promo channel like pros. 00:00:21.210 --> 00:00:24.170 From marketing to distributors to mastering software 00:00:24.170 --> 00:00:27.370 onboarding, we cover it all. Whether you're new 00:00:27.370 --> 00:00:30.149 to the industry or ready to scale up, this is 00:00:30.149 --> 00:00:33.259 your playbook for success. Let's get started. 00:00:34.500 --> 00:00:37.740 Well, welcome everybody to the next episode of 00:00:37.740 --> 00:00:40.500 the promo playbook. Today we're going to dive 00:00:40.500 --> 00:00:43.500 into a foundational topic that sort of gets pushed 00:00:43.500 --> 00:00:47.100 to the side. And I love that Adrian on our team 00:00:47.100 --> 00:00:50.079 is very dialed into the finance and credit part 00:00:50.079 --> 00:00:53.000 of running a supplier. So today we're going to 00:00:53.000 --> 00:00:56.469 dive into. Setting up new accounts, making sure 00:00:56.469 --> 00:00:59.210 that you have a credit protocol in place. What 00:00:59.210 --> 00:01:03.030 is your standard operating procedure for onboarding 00:01:03.030 --> 00:01:06.329 new customers and extending credit, making sure 00:01:06.329 --> 00:01:10.510 things get billed and then you get paid. So I'm 00:01:10.510 --> 00:01:14.430 going to sort of set the stage here and run through 00:01:14.430 --> 00:01:17.829 a little checklist of some of the tasks that 00:01:17.829 --> 00:01:20.530 need to go along with this. And then we'll dive 00:01:20.530 --> 00:01:23.760 in with our team of experts on how to unpack 00:01:23.760 --> 00:01:27.620 this topic. So how do you set up a new account? 00:01:28.120 --> 00:01:31.420 How do you communicate that to your prospects, 00:01:31.560 --> 00:01:34.260 your distributor prospects? How do you run a 00:01:34.260 --> 00:01:36.959 credit check? What are the resources that you 00:01:36.959 --> 00:01:41.180 need to see if this is a legit distributor? What 00:01:41.180 --> 00:01:43.739 type of payment offerings do you want to have? 00:01:43.760 --> 00:01:46.579 Do you want to have a payment portal? Do you 00:01:46.579 --> 00:01:48.599 want to take credit cards? Are you only going 00:01:48.599 --> 00:01:51.840 to accept checks? Do you accept ACH payments? 00:01:53.060 --> 00:01:56.540 How do you collect the correct documentation? 00:01:56.780 --> 00:02:01.879 Do you need a W -9 tax ID number? What type of 00:02:01.879 --> 00:02:05.519 form do you need to create to have your distributors 00:02:05.519 --> 00:02:08.919 fill out? We'll dive into credit card fees. How 00:02:08.919 --> 00:02:11.319 do they affect your profitability? And do you 00:02:11.319 --> 00:02:14.460 want to accept credit cards? So those are some 00:02:14.460 --> 00:02:17.439 of the topics we're going to cover and also the 00:02:17.439 --> 00:02:20.460 benefits of a variety of clients in your portfolio. 00:02:21.419 --> 00:02:23.979 So Adrienne, I'm going to throw the ball to you 00:02:23.979 --> 00:02:27.599 first because I know that this is a topic that's 00:02:27.599 --> 00:02:30.620 dear to your heart. So you've worked with some 00:02:30.620 --> 00:02:33.939 baby suppliers, some new suppliers. Talk us through 00:02:33.939 --> 00:02:37.639 that process with them. So my first suggestion 00:02:37.639 --> 00:02:42.419 is to stick with the industry software. I would 00:02:42.419 --> 00:02:45.759 not say, oh, let me use Shopify or use another 00:02:45.759 --> 00:02:47.939 program. Stick with the industry software. That 00:02:47.939 --> 00:02:51.500 will help you to make sure that everything that 00:02:51.500 --> 00:02:55.300 you're doing is under an SOP or standard operating 00:02:55.300 --> 00:02:59.000 procedure and everything that you need will be 00:02:59.000 --> 00:03:01.800 there. So first of all, my dad always said, there's 00:03:01.800 --> 00:03:04.819 no business without having an account set up 00:03:04.819 --> 00:03:07.259 first. You have to have the account set up and 00:03:07.259 --> 00:03:09.860 then you got to get quotes going on, right? So 00:03:09.860 --> 00:03:12.599 all of that, you have to make sure you have that 00:03:12.599 --> 00:03:15.419 process correctly. So that's the first thing 00:03:15.419 --> 00:03:19.969 I'd say is go to ASI. go to PPAI, see there's 00:03:19.969 --> 00:03:23.469 other, there's the other industry directed software 00:03:23.469 --> 00:03:27.449 that will help you to, to look at taking the 00:03:27.449 --> 00:03:30.729 orders and looking at credit checks and giving, 00:03:31.069 --> 00:03:33.449 and also, you know, what are these other distributors 00:03:33.449 --> 00:03:35.409 have done? Are you going to take in a distributor 00:03:35.409 --> 00:03:38.750 that has our zero rating? So you got to take 00:03:38.750 --> 00:03:41.849 the time to research. And I want to say, you 00:03:41.849 --> 00:03:44.729 want to make sure too, when you're talking as 00:03:44.729 --> 00:03:46.830 a supplier to the distributors and getting them 00:03:46.830 --> 00:03:51.780 set up, One of my favorite books is Unreasonable 00:03:51.780 --> 00:03:55.340 Hospitality. You got to think in a way as a distributor. 00:03:55.460 --> 00:03:57.020 They're busy, they're trying to take orders, 00:03:57.360 --> 00:03:59.580 they're doing you a favor in their mind that 00:03:59.580 --> 00:04:01.780 I'm giving you this order. You have to make it 00:04:01.780 --> 00:04:05.020 easy for them to have an account procedure, easy 00:04:05.020 --> 00:04:09.520 to set up, easy for them to make payments, and 00:04:09.520 --> 00:04:12.319 that discussion of credit card fees needs to 00:04:12.319 --> 00:04:15.580 be discussed. I'm going to throw it now to Kim, 00:04:15.680 --> 00:04:20.139 catch the ball. Oh, I got it. Yeah, I agree. 00:04:20.319 --> 00:04:23.480 I mean, I think it's often forgotten, like, hey, 00:04:23.560 --> 00:04:26.439 here's the order. Great. It's so easy to open 00:04:26.439 --> 00:04:28.819 your spreadsheet, your NetSuite, whatever platform 00:04:28.819 --> 00:04:33.439 you're on, and put in distributor A, want 600 00:04:33.439 --> 00:04:36.040 of these with a one -color imprint, send, and 00:04:36.040 --> 00:04:38.639 off you go. And you don't really think about 00:04:38.639 --> 00:04:41.899 that next step of, well, OK, that was a $6 ,000 00:04:41.899 --> 00:04:44.740 order. When am I gonna get paid on that? How 00:04:44.740 --> 00:04:47.120 am I gonna get paid on that? Like all the things, 00:04:47.259 --> 00:04:49.620 right? We're all in this to make money. And the 00:04:49.620 --> 00:04:51.339 only way you make money is by collecting your 00:04:51.339 --> 00:04:54.759 payment. So having even just simple forms, if 00:04:54.759 --> 00:04:57.800 you're not set up where it's completely automated, 00:04:58.420 --> 00:05:02.879 being able to create templates, you know, onboarding, 00:05:03.060 --> 00:05:06.379 supplier onboard templates, basic information, 00:05:06.959 --> 00:05:11.639 name, address, contact person, who is the AR 00:05:11.639 --> 00:05:14.449 person? the accounting person when you're generally 00:05:14.449 --> 00:05:17.069 dealing with an order taker back and forth. But 00:05:17.069 --> 00:05:19.350 if you don't get paid, that person doesn't really 00:05:19.350 --> 00:05:21.750 know either. So you need to make sure you're 00:05:21.750 --> 00:05:24.730 getting even just the basics that it sounds silly. 00:05:25.529 --> 00:05:27.829 But I think sometimes, you know, we all get caught 00:05:27.829 --> 00:05:30.990 up in the sale that we forget about those details 00:05:30.990 --> 00:05:34.569 and to go back and have to redo everything or 00:05:34.569 --> 00:05:37.709 backtrack it isn't so easy. So I think being 00:05:37.709 --> 00:05:41.790 able to look at getting simple onboarding forms 00:05:42.040 --> 00:05:46.740 to collect information is a great start. So you 00:05:46.740 --> 00:05:49.980 have an account. And then the second step, you 00:05:49.980 --> 00:05:52.560 know, to Lisa's point is okay, but how do you 00:05:52.560 --> 00:05:54.560 want to get paid, right? What does that look 00:05:54.560 --> 00:05:57.740 like? Is it credit card? Is it ACH? Are you, 00:05:57.860 --> 00:06:00.439 can you take ACH? Do you even know what ACH is? 00:06:01.300 --> 00:06:05.459 You know? So I think that it's often, yeah, we 00:06:05.459 --> 00:06:08.870 jump to the sale and we forget the rest. Awesome. 00:06:08.930 --> 00:06:12.110 Awesome. So great insight, you guys. So step 00:06:12.110 --> 00:06:15.930 one, create a form for yourself. Make sure that 00:06:15.930 --> 00:06:18.430 you have something you can email to that distributor 00:06:18.430 --> 00:06:23.389 where you can get, and I want to support Tim's 00:06:23.389 --> 00:06:28.410 comment of the AR person is not always the salesperson. 00:06:28.970 --> 00:06:31.189 Most of the time, it's not unless you're dealing 00:06:31.189 --> 00:06:33.610 with the sole proprietor distributor than it 00:06:33.610 --> 00:06:36.810 will be. But most of the time, You want to capture 00:06:36.810 --> 00:06:41.129 the accounts receivable information, email, all 00:06:41.129 --> 00:06:43.589 that, as well as the person who's placing the 00:06:43.589 --> 00:06:47.949 order. Key pieces of information also on that 00:06:47.949 --> 00:06:51.709 form is tax ID number or resale certificate resale 00:06:51.709 --> 00:06:57.449 number, those types of information. So step two 00:06:57.449 --> 00:07:00.569 that Adrienne mentioned is check that in your 00:07:00.569 --> 00:07:04.589 industry software. That could be Sage or ASI, 00:07:04.589 --> 00:07:08.389 both. groups have software where you can check 00:07:08.389 --> 00:07:11.750 the financial life of a distributor and make 00:07:11.750 --> 00:07:15.350 sure they're in good standing. You know, that's 00:07:15.350 --> 00:07:17.769 the best way to go about it. And then once you 00:07:17.769 --> 00:07:20.250 have that back, you can determine what type of 00:07:20.250 --> 00:07:23.810 terms you want to extend. So let's break down 00:07:23.810 --> 00:07:26.949 terms. Adrienne, what types of terms can we offer 00:07:26.949 --> 00:07:30.269 to our distributor friends? So distributor friends, 00:07:30.350 --> 00:07:39.759 we love you all. Just pay in advance. Pay in 00:07:39.759 --> 00:07:42.459 advance, but get as much juice as you can out 00:07:42.459 --> 00:07:44.459 of it. So if you're paying in advance, that's 00:07:44.459 --> 00:07:46.959 where you can negotiate and ask for an additional 00:07:46.959 --> 00:07:51.620 5 % or 10 % off, right? You know, this is a tough 00:07:51.620 --> 00:07:53.680 industry. So I just want to say to the suppliers, 00:07:53.920 --> 00:07:55.399 you know, you have to know that there may be 00:07:55.399 --> 00:07:57.040 a distributor out there that has an order for 00:07:57.040 --> 00:07:58.980 you that's literally working out of their, you 00:07:58.980 --> 00:08:02.449 know, closet. And does it have any money or does 00:08:02.449 --> 00:08:06.189 it have a big company behind them? So you got 00:08:06.189 --> 00:08:09.769 to do this because otherwise you won't get paid 00:08:09.769 --> 00:08:11.449 for your work. And that's like the worst thing 00:08:11.449 --> 00:08:13.410 that can happen is now you're going and trying 00:08:13.410 --> 00:08:15.129 to go into collections. We're not, you know, 00:08:15.170 --> 00:08:17.589 the health department. It's hard to put out collections. 00:08:17.589 --> 00:08:19.610 That's probably the toughest part of the industry 00:08:19.610 --> 00:08:21.970 and probably another conversation, which I really 00:08:21.970 --> 00:08:24.410 don't know much about. So you've got pay in advance. 00:08:24.990 --> 00:08:27.899 You've got you got. deals that you can make. 00:08:27.920 --> 00:08:30.819 So you've got a term. So maybe you say, Hey, 00:08:31.199 --> 00:08:33.879 I want to pay you in nine days. Can I get net 00:08:33.879 --> 00:08:36.379 10? And that means that you're getting a deal, 00:08:36.379 --> 00:08:39.100 but now you've got 10 days to pay when that invoice 00:08:39.100 --> 00:08:44.019 is net 10. It could be invoice is due. And so 00:08:44.019 --> 00:08:46.059 when you receive the invoice, that's when you're 00:08:46.059 --> 00:08:47.600 going to pay. That doesn't mean that you're paying 00:08:47.600 --> 00:08:50.240 in advance. It's when you receive the invoice 00:08:50.240 --> 00:08:54.740 and suppliers talking about sending out invoices, 00:08:54.960 --> 00:08:58.289 be prompt with it. because that is really a big 00:08:58.289 --> 00:09:01.789 complaint from distributors that you wait to 00:09:01.789 --> 00:09:04.590 invoice them. And then, well, they should be 00:09:04.590 --> 00:09:06.990 happy that I'm not sending them an invoice. Okay, 00:09:07.049 --> 00:09:10.570 no, because they can't invoice their client because 00:09:10.570 --> 00:09:13.009 they wanna know if they've missed any charges 00:09:13.009 --> 00:09:17.490 or if there's any overages or underages. So like, 00:09:17.610 --> 00:09:20.029 seriously, you gotta make sure. Then you would 00:09:20.029 --> 00:09:24.330 have your net 30, which could also differ, and 00:09:24.330 --> 00:09:26.879 Kim's gonna share about that. But net 30 would 00:09:26.879 --> 00:09:29.559 mean that you have 30 days to pay that invoice 00:09:29.559 --> 00:09:32.960 afterwards. And anything over, if you are a supplier, 00:09:33.220 --> 00:09:36.059 you may want to tack on interest rates. So you 00:09:36.059 --> 00:09:38.419 may want to say, oh, you know what, if you don't 00:09:38.419 --> 00:09:41.460 start paying. By the way, you may want to say 00:09:41.460 --> 00:09:46.200 net 10, 2%. I think that is that it. So if you 00:09:46.200 --> 00:09:49.840 pay within 10 days. You get 2 % off or 5 % off. 00:09:49.860 --> 00:09:51.740 That's something you could do, especially as 00:09:51.740 --> 00:09:54.419 a supplier and you're new and you want to be 00:09:54.419 --> 00:09:58.059 flexible. That's a nice way to do it. And, and 00:09:58.059 --> 00:09:59.820 other than that, you're going to have suppliers, 00:09:59.940 --> 00:10:04.500 distributors that are going to say net 60, net 00:10:04.500 --> 00:10:08.700 90, maybe. And of course, I think there should 00:10:08.700 --> 00:10:12.559 always be open room for negotiations, but I don't 00:10:12.559 --> 00:10:14.740 think that I've missed anything. So let me go 00:10:14.740 --> 00:10:17.059 to have, let me mute up and you guys take over. 00:10:17.200 --> 00:10:20.000 Okay, yeah, I don't think I don't think you miss 00:10:20.000 --> 00:10:23.460 anything on that but I love the point of your 00:10:23.460 --> 00:10:27.120 invoice out on time like that is just it's crazy 00:10:27.120 --> 00:10:30.860 to me that you can place an order it can ship 00:10:30.860 --> 00:10:34.340 and It takes two or three weeks for somebody 00:10:34.340 --> 00:10:38.139 to get an invoice Like that's insane and it doesn't 00:10:38.139 --> 00:10:40.559 make sense for you as a supplier because your 00:10:40.559 --> 00:10:43.720 terms Don't start until they get the invoice. 00:10:43.879 --> 00:10:47.379 So if you waited two or three weeks to send it, 00:10:47.539 --> 00:10:50.679 you just lost two to three weeks of getting paid. 00:10:51.679 --> 00:10:54.100 Like, we want it from a cash flow perspective, 00:10:54.259 --> 00:10:57.960 right? You want money coming in constantly because 00:10:57.960 --> 00:11:01.700 money's going out too. So I absolutely love that, 00:11:01.820 --> 00:11:03.600 Adrienne. Make sure you get your invoices out 00:11:03.600 --> 00:11:07.879 on time. Great. And then when you talk about 00:11:07.879 --> 00:11:11.259 terms, you know, There are a couple different 00:11:11.259 --> 00:11:13.879 ways, and we were talking, prepping for this 00:11:13.879 --> 00:11:15.940 podcast, and I think all of us have experienced 00:11:15.940 --> 00:11:19.899 different ways on terms. So net 30 tends to be, 00:11:19.899 --> 00:11:22.419 I think, the typical timeline. You do have net 00:11:22.419 --> 00:11:26.220 60. You do have net 90. Negotiate those. Nobody 00:11:26.220 --> 00:11:29.679 wants net 90. That's like a whole lifetime went 00:11:29.679 --> 00:11:33.960 by before you're getting paid. But you can negotiate 00:11:33.960 --> 00:11:35.919 that. Of course, people are going to start there, 00:11:35.940 --> 00:11:37.980 but that's not where you're going to land. But 00:11:37.980 --> 00:11:39.980 then when you're talking about terms, you also 00:11:39.980 --> 00:11:42.580 have to think about, okay, I'm giving somebody 00:11:42.580 --> 00:11:47.059 30 days, net 30. How do you want that money to 00:11:47.059 --> 00:11:51.120 come in? Can they pay it via credit card? In 00:11:51.120 --> 00:11:53.559 that on day 29, pick up the phone and call in 00:11:53.559 --> 00:11:56.039 with a credit card. Do they have to send a check? 00:11:56.740 --> 00:12:01.240 Can they wire it, ACH? You have to figure out 00:12:01.240 --> 00:12:05.559 how do you want to be paid? For us, you know, 00:12:05.860 --> 00:12:09.639 how sort of we live at Quirksicle, you can pay 00:12:09.639 --> 00:12:12.559 via credit card, but that has to get done at 00:12:12.559 --> 00:12:17.059 the time of the order. And then net 30 is either 00:12:17.059 --> 00:12:20.679 ACH or check. So, you know, for us, we don't 00:12:20.679 --> 00:12:24.720 pass along credit card fees. So if we're already 00:12:24.720 --> 00:12:29.340 sort of delaying payment for 30 days to allow 00:12:29.340 --> 00:12:34.210 you 30 days, we don't also want to. have to suck 00:12:34.210 --> 00:12:37.330 up credit card charges. So, you know, and again, 00:12:37.330 --> 00:12:40.149 it's not hard and fast, but the majority, it's 00:12:40.149 --> 00:12:43.570 either credit card and that card is charged at 00:12:43.570 --> 00:12:46.590 the time of shipment, not in advance of the order, 00:12:46.649 --> 00:12:50.309 but the time it ships. So basically balance due, 00:12:50.649 --> 00:12:55.190 you know, upon shipping or it's net 30 and then 00:12:55.190 --> 00:12:57.429 you can pay another, you know, a different way 00:12:57.429 --> 00:13:00.309 other than credit card. But as we learned, not 00:13:00.309 --> 00:13:03.049 everybody does that. Yeah, so it's all over the 00:13:03.049 --> 00:13:07.029 place. It's a variety and smaller suppliers with 00:13:07.029 --> 00:13:09.669 limited bandwidth might come at this from a different 00:13:09.669 --> 00:13:13.389 perspective. I think the important part for any 00:13:13.389 --> 00:13:15.889 supplier, no matter what size you are, is if 00:13:15.889 --> 00:13:18.730 you can't have your own accounting person or 00:13:18.730 --> 00:13:24.080 team invest in and outsource accounting. that 00:13:24.080 --> 00:13:27.559 can help you stay on track with this. APAR is 00:13:27.559 --> 00:13:30.240 super important for your cash flow, especially 00:13:30.240 --> 00:13:32.779 when you're buying supplies and paying labor 00:13:32.779 --> 00:13:35.940 and, you know, payroll and all those great things 00:13:35.940 --> 00:13:38.840 we know as suppliers that are so important to 00:13:38.840 --> 00:13:42.379 making the company run. So some key decisions. 00:13:42.539 --> 00:13:45.039 Are you accepting credit cards? How do you charge 00:13:45.039 --> 00:13:48.000 those fees? Will you charge those fees? Will 00:13:48.000 --> 00:13:52.159 you offer a discount on early payment? Will you 00:13:52.159 --> 00:13:55.600 have a payment portal? Things like that are important. 00:13:56.799 --> 00:13:59.600 Will you set up on Shopify so that everything 00:13:59.600 --> 00:14:02.399 comes through a tech stack and you're getting 00:14:02.399 --> 00:14:08.100 paid upfront? Lots of things to consider. But 00:14:08.100 --> 00:14:10.919 most important, get your data set up correctly 00:14:10.919 --> 00:14:13.059 from the beginning. Make sure you know who your 00:14:13.059 --> 00:14:16.100 customer is, who's going to pay, how you're going 00:14:16.100 --> 00:14:18.620 to invoice them, and how you're going to get 00:14:18.620 --> 00:14:21.850 paid. So I think we wanted to keep this sort 00:14:21.850 --> 00:14:25.110 of a short, tight segment, one of our mini bites. 00:14:25.750 --> 00:14:29.769 How are we doing on time, Adrienne? We're doing 00:14:29.769 --> 00:14:34.129 great. And all is good. All is good. I was thinking 00:14:34.129 --> 00:14:36.929 of something, but I need another minute to have 00:14:36.929 --> 00:14:40.509 it go back in my head. OK. So I think what we'll 00:14:40.509 --> 00:14:45.409 do is we'll end this segment here, because this 00:14:45.409 --> 00:14:49.559 could be a longer segment maybe we'll have a 00:14:49.559 --> 00:14:52.200 guest CFO join us and really talk about from 00:14:52.200 --> 00:14:55.399 the supplier perspective how all of these things 00:14:55.399 --> 00:14:59.659 come into play. Do you want to offer those invoice 00:14:59.659 --> 00:15:03.039 discounts? Something that Adrienne said as we 00:15:03.039 --> 00:15:05.159 were prepping for this call which I think is 00:15:05.159 --> 00:15:08.190 important that I'd like to close with is You 00:15:08.190 --> 00:15:11.690 want a variety of clients, a variety of distributor 00:15:11.690 --> 00:15:15.269 sizes. You want some smaller distributors, you 00:15:15.269 --> 00:15:17.490 might want some midsize distributors, and then 00:15:17.490 --> 00:15:20.269 you might want to have a national or two, depending 00:15:20.269 --> 00:15:24.269 on the size of your supplier organization. So 00:15:24.269 --> 00:15:27.570 that way you have a good cash flow, good steady 00:15:27.570 --> 00:15:31.610 cash flow of day -to -day money coming into the 00:15:31.610 --> 00:15:36.220 business. When you're setting up your accounts, 00:15:36.580 --> 00:15:39.919 distributors can range from small distributors 00:15:39.919 --> 00:15:43.840 of 250 ,000 maybe annually all the way up to 00:15:43.840 --> 00:15:46.639 multi -million dollar distributors and then our 00:15:46.639 --> 00:15:49.559 nationals and things like that, which we've mentioned 00:15:49.559 --> 00:15:54.299 before. So just good fiscal responsibility is 00:15:54.299 --> 00:15:57.059 what we want to leave you with. Even though we 00:15:57.059 --> 00:16:00.480 know as a small supplier, that can be really 00:16:00.480 --> 00:16:03.750 difficult. Don't put it on the back burner. Don't 00:16:03.750 --> 00:16:07.850 ignore it. Dial into it and set your supplier 00:16:07.850 --> 00:16:10.750 journey off on a good, strong financial footing. 00:16:11.730 --> 00:16:13.929 So thanks, everybody. We're going to wrap this 00:16:13.929 --> 00:16:19.169 one up and we'll see you next time. Thanks for 00:16:19.169 --> 00:16:21.789 tuning into the promo playbook. If you found 00:16:21.789 --> 00:16:24.950 value in today's episode, be sure to subscribe 00:16:24.950 --> 00:16:27.970 and leave us a review. Got a topic you'd love 00:16:27.970 --> 00:16:30.549 us to cover? Connect with us on LinkedIn. We 00:16:30.549 --> 00:16:34.090 want to hear from you. Until next time, stay 00:16:34.090 --> 00:16:37.149 smart, stay strategic, and keep growing your 00:16:37.149 --> 00:16:38.110 supplier success.