Eddie Patella is currently making his living utilizing product sourcing techniques. In its most simplistic form, product sourcing basically means that you are buying products directly from the source, allowing you to get your hands on products that you can resell at a higher price. Some product sourcing clients take things a step further and directly drop ship to your customers, meaning you never have to store or ship product. Here are a few of the benefits associated with product sourcing.
Eddie Patella States the First Benefit Is That You Build Relationships With Sources
According to Eddie Patella, one of the first benefits associated with product sourcing is that you build a relationship with the sources that you purchase products from. When you deal with large corporations, you may find that running a business can feel cold or lack human connection. When you buy directly from the source, you are building a relationship with individual people or smaller companies. Not only can this help you to get the best possible price for the products you are buying, but it helps you to develop a human connection.
Eddie Patella Says Another Benefit Is That You Mitigate Your Risk
Eddie Patella explains that another huge benefit associated with product sourcing is that you mitigate your business risk. Many companies buy products in bulk because they are worried about when they can get their hands on that product again. When you have a reliable source, you are able to buy product as needed from week to week or month to month. You do not have to carry a large stock of product or run the risk of it not selling. This helps you to mitigate profit loss and control your budget.
Eddie Patella Explains How You Can Get Product In Customer’s Hands Faster
Eddie Patella says that the final benefit associated with product sourcing is that you can often get product in your customer’s hands faster when you product source. When you product source, you are essentially cutting out the middle man when it comes to stocking products. This means product is shipped directly to you from the source, or even shipped directly to your customer. There is no middle man between the supplier and your business, which helps to reduce cost, which helps to reduce shipping costs, and which helps your business get items directly to your customers faster.
Eddie Patella has been successful in business thanks to product sourcing. He wants to help others fulfill what they envision as the American dream and be successful at the type of business they strive to run and operate. If you are looking to get into business, product sourcing is extremely important and beneficial to you. However, product sourcing alone is not enough. You need to find the right products to sell and the right companies to source from. Doing your research on products and manufacturers or makers will help you when it comes to selecting a company to product source directly from.