Establishing business partnerships are more important than ever before. This strategy does not limit to entrepreneurs and small business owners only. The success of win-win is immense if they play the game correctly. This explains why more and more big brands are setting up strategic partnership with other classic brands. Eg. Apple & Nike, BMW & Louis Vuitton, Starbucks & Spotify, just to name a few. Throughout my 16 years of steel trading experience in the steel industry, I have learned some great lessons when creating those relationships. I am sharing with you the 7 qualities to look for in a steel trading partner or supplier to make an impactful business relationship.

1. Credibility – Any company or individual who displays the quality of being trusted and believed in has a huge win in the game.

2. Steel Knowledge – Having a steel partner or supplier who has vast experience in handling steel is a great asset to the company. I personally have worked with many highly skilled or knowledgeable people in the steel industry which working with them is a bliss.

3. Delivery – Needless to say how disastrous it could be when we win a wonderful project and later realized our suppliers / partners could not meet the project deadlines. Supplier who is able to deliver within the promised lead time is as essential as the one who gives you competitive prices.

4. Strong Global Network – Finding a partner who is always well-connected globally is a smart move especially when you would like to scale your business or bringing your business to global.

5. Quality – Always look for partners or suppliers who are consistent on the quality and could provide stability to your supply chain.

6. Advantage on Culture and Language – One of the huge advantage of living in Singapore is we get to experience multiracial and multicultural society. This helps us to establish business relationship quickly and deeply, sometimes without us knowing it.

7. Exim Procedures and Documentation – A partner or supplier who is well verse in Incoterms and export/import procedures saves you a lot of hassle. I can’t stress further how important it is to provide timely accurate documentations whether it is for custom clearance or bank submission.