124 - There Is More To A Good Vendor Than Price
When choosing your vendor, most people only consider their cost first and foremost… and it makes sense to do that. However, we’re here to tell you that yes, of course, pricing matters, but there are a lot more aspects that you need to keep in mind before settling down with your “perfect vendor.” Listen now to learn our recommendations on what qualifies a good vendor, how you can build a good relationship together, and where you can find the vendors of your dreams.
Show Notes
00:00 - Intro
02:51 - Here’s An Example For You
04:05 - Why Relationships Matter
05:30 - There’s More To It Than Pricing
06:07 - Why You Need To Build Relationships
06:50 - The Most Important Thing About Vendors
08:50 - How To Ask Your Vendors About Other Vendors
09:25 - So, What Makes A Good Vendor?
11:26 - You Need To Consider Availability
12:19 - Having An Ally
13:00 - Why You Should Have MANY Vendors
16:35 - In Summary
18:00 - Outro
Quotable Moments
“A lot of people just worry about price, but there’s so much more to it especially with the supply chain issues that are happening right now.” – Martin
“Building relationships with your supplier is essential and you need to have them on your team.” – Martin
“You need to be sure that your ideal vendor is educated in your industry, they understand the new materials and technology, and that they understand what’s happening in the marketplace because they’re working with so many competitors of yours.” – Khalil
“You need to consider the availability of the product but also the availability of delivery too.” – Khalil
“You should expect to pay more. If you’re receiving better service, better availability, being more of a priority… that comes with a cost.” – Khalil
“Take care of your vendors and they’ll make sure to take care of you.” – Martin
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