Based on the readings of the book "Rothaermel, F. T. (2021). Strategic management. McGraw-Hill Education". Chapter 6-Business Strategy: Differentiation, Cost Leadership, and Blue Oceans and Chapter-7. Business Strategy: Innovation, Entrepreneurship, and Platforms.

Provide graduate level responses to the following question:

You are a co-founder of a start-up firm making electronic sensors. After a year of sales, your business is not growing rapidly, but you have some steady customers keeping the business afloat. A major supplier has informed you it can no longer supply your firm because it is moving to serve large customers only, and your volume does not qualify. Through you have no current orders to support an increased commitment to this supplier, you do have a new version of your sensor coming out that you hope will increase the purchase volume by over 75 percent and qualify you for continued supply. This supplier is important to your plans. What do you do?