Set Your Business for Vendors!!!

I’ve got 3 Tips that may help

That’s right! Today I’m sharing 3 Tips to Set Your Business Up Right and Work with Vendors.

You’ve heard the expression, “The customer’s always right”, right?  Are they though?  In this blog post I’d like you to look at the opposite side of that coin and ask yourself this question: “As a brand, are you a customer who’s worthy of this advantage?”

I’m a service provider and I’ve worked with my share of customers & vendors who don’t fit the bill:

• The inability to verbalize their needs but ability to criticize when you don’t hit their fantasy mark
• The oblivious attitude towards the fact that payment is based on time
• The push back when their vision is questioned

As entrepreneurs, we have to be cognizant that, even though we are customers to other entrepreneurs, B2B business puts you in an equally judged roll and your reputation could be equally bruised if the working relationship goes south.

Take a look at my tips….

1. Have an open line of communication:
   • Communicate your vision: This means you need a plan going in. You need to do some soul searching and research to create a vision for the project you have in mind.  You should know what you don’t know and then communicate that when asked, instead of giving excuses or false answers. As a client and a brand, you are still being judged for the way you handle your business (i.e. customer service).  Service professionals take note and make decisions from the experiences they have with you.  Remember, they get to choose who they do business with too.  On average, loyal customers are worth up to 10 times as much as their first purchase. That said, your vendor wants to do a good job for you. On the flip side… even though they aren’t YOUR client, missteps could cost you just as much.  Instead of being a “Bad Client”, build rapport and show your loyalty. It will be reciprocated in a plethora of ways as you continue to use them.

2. Check your ego at the door:
   • When you reach out to a service provider (i.e. graphic designer, web developer, business coach, etc.), remember the reason you reached out in the first place. You think they have the expertise to help you achieve your goal. The expert you’ve contracted will have suggestions but if you have a clear vision for your project and its purpose, it makes it easier to achieve your vision. Be Clear About the Scope of Work and don’t get in your feelings when they make suggestions.  Their idea could enhance the original plan.  If you’ve communicated properly, the suggestions given should be relevant and consistent with your original goal.  As the expert on the project, it’s entirely plausible that they will want give instruction to educate you in attempt to assist you in reaching the best, most efficient results.  Take a look at this graphic.  It defines a “Bad Client”.  Leaving your ego at the door minimizes the odds you’ll be in this category with your clients/vendors.

3. Be prepared to negotiate:
   • It is always a good idea to have a budget when you walk into a meeting or phone call with a potential service provider. Now having said that, I realize small business owners and aspiring entrepreneurs may feel a little intimidated by the term “Budget”. The thinking is, it implies you need a lot of money. That isn’t true at all. You just need to know what you can afford, be realistic with your request and be open to negotiate.  I’d venture to say, you aren’t the only one with limited resources. If you do your research and are realistic, you may find a service provider who is willing to work within the boundaries of your budget.  Take a look at this article on Forbe.com.  It gives negotiation tactics that could prove useful.

Over on my podcast, The C.E.O. Mindset,

I had a conversation with a service provider and she was very candid about common mistakes she’s recognized when working with her clients AND helpful tips to ensure you make the best decisions when hiring vendors to help you in your business.  Tonya Franklin is the owner of  MJS Virtual Collaborative Services.  She is an expert service provider who someone who has experience helping her customers set their businesses “UPWRITE”.

Listen to Podcast—————->>>>>>  HERE

I enjoy chatting with my interviewees on my podcast, but as much as I enjoy it, I would LOVE to chat it up with you too..  That’s why I started Coffee and Conversations.  It’s starting out as a IG LIVE.  I go live each week day morning to chat it up about a little bit of everything.  We will definitely add this topic to the list.

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