- Interview various vendors
- Select a primary vendor for each product or service you outsource
- Get to know these key vendors and build a mutually beneficial relationship
- Look for ways to treat these vendors as you would treat customers
Find Vendors to Help you Fulfill on Your Promise
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Since you are not likely to provide every aspect of your business without some assistance with outside contractors or vendors, it makes sense to have a strong relationship with these key parts of your team. Ultimately, finding the right vendor or contractor can make or break the ability for your business to deliver consistently and retain customers. We were fortunate to find a printer and mail house early on that met many of our needs.
The goal is to take the time to speak with multiple providers and tell the owner (if possible), that you would like to build a long term relationship with their firm. The best case is to become on of their larger clients over time.
While there are obviously times we use large national companies where we will never become a large client, for our bread and butter daily work, we prefer to work with a mid size firm that has the resources to meet our demands while they can also appreciate our business and will go out of their way to make sure our work is taken care of within the timeframe they commit.
After working with one printer for awhile, we made an appointment to meet them in person and we were introduced to the president of the company. This helped us greatly since we could now call on him if necessary to resolve any high level issues. Another key benefit is that we were able to negotiate a co-op advertising program, where the vendor paid for part of our marketing materials since ultimately, if we're more successful, they will see more business too.
Another pointer is to look outside of your local market (especially if you are located in a higher cost metro area). For example, labor is often cheaper in the Midwest. Since so much work can be done via the internet anyway, the distance factor is not that big of a deal, yet the lower cost allow you to be more competitive and retain higher profits.
While I like to have a strong on-going relationship with a primary supplier for each element of my business, I always know that at any time, that business could fail or no longer be able to deliver what we need at the cost we want to pay. Therefore, I like to be familiar with another business that can easily step in if needed.
Another advantage of getting to know various vendors is that you will learn about new products and services you can offer your customers. You want to be on the inside track as they release the latest and greatest that you can sell to others. In some fields, they will look to their best customers first for "beta" testing of newer products or services (very common in software and technology offerings for example).
In general, treat your vendors as you treat your clients and you'll end up ahead. Send them thank you gifts or cards at the holidays and thank them for helping you. These strong bonds help in times when there is a problem and you need a favor. You will be hard pressed to get special treatment from a larger national company where you are a tiny part of their business, and the same is true if you mistreat or consistently beat up your suppliers.
Happy shopping!
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