In this episode of the Brothers in Business, Cody and Tyler share insights from their 12 years of experience in global procurement and supply chain management, during which they have generated £25 million in revenue. They discuss the evolution of their family business, the challenges of sourcing products from international suppliers, and the importance of building strong relationships in the industry. The duo emphasizes the significance of customer service, effective communication, and understanding client needs to provide value beyond just competitive pricing. They also explore the critical role of systems and people in running a successful business, highlighting their journey towards achieving an eight-figure turnover in the coming years. Tune in for valuable lessons on entrepreneurship, negotiation, and the dynamics of working with a trusted partner. Key Takeaways Understanding Customer Needs: It's crucial to ask the right questions when receiving inquiries from customers. Understanding their specific requirements, such as quality, cost, and delivery timelines, can significantly enhance the service provided and lead to better outcomes. Building Relationships: Establishing strong relationships with suppliers and customers is essential for success in procurement and supply chain management. A good relationship can help resolve issues more effectively and ensure better service and product quality. Importance of Systems and People: A successful business relies on both effective systems and a motivated team. The systems should support the team in their roles, and the people should be engaged and inspired to contribute to the company's goals. Value Over Price: Competing solely on price can lead to a race to the bottom. Instead, businesses should focus on providing value through quality service, communication, and understanding customer needs, which can differentiate them from competitors. Scalability and Low Startup Costs: The global procurement business model offers low startup costs and high scalability potential. Entrepreneurs can leverage existing suppliers and systems to grow their business without the need for significant upfront investment in machinery or infrastructure. Key Quotes "Simply put, our business is global procurement and supply chain management... we help source products for our customers all over the world." "The biggest Achilles heel of our business is the fact that we don't have direct control of what's being made." "A problem shared is a problem halved, and if you know the right people to go to who can help solve your problems, you're living life on easy mode." "If you're in a business, you need to stand out by offering more than just cheap, or more than just cost." "The reality is thousands of people have lost jobs. It's just, it's not how businesses, it's not how societies run."