No matter what business you’re in, finding long-term reliable vendors means that you are going to offer better service and have higher profits. By finding and identifying those vendors on whom you can rely, you reduce the time, energy and money that you’d otherwise spend trying to find a reliable source for the goods that your business needs to succeed. Even if your business doesn’t deal directly with tangible goods, having long-term reliable service vendors can make or break your business.
One of the first things to keep in mind in this regard is that not every vendor is created equal. Some vendors, especially wholesale vendors, offer very little in the way of support for their products or guarantees of quality. Being able to identify vendors that will stick by their products, deliver on schedule and on budget and do it in a courteous and friendly way is imperative to your business’ success.
You need to realize, too, that finding long-term reliable vendors isn’t exactly an easy task. In many cases, it’s going to be a process of hit and miss. In addition, you may not really know how reliable a vendor is until something goes wrong. How a vendor treats your business when there’s a problem or when there is a deadline is often the best way to know whether they’re reliable in the long term. This doesn’t mean you should invent a crisis, but it does mean you should watch the company’s performance closely when there is a crisis.
Remember, as well, that word of mouth recommendations and personal references are your most trusted tools in finding the right vendor. When you’re considering a vendor, find out what others think about them. Certainly you can ask for references from the vendor, and most quality businesses will be willing to provide you with a list of satisfied customers. You can also check to see what other people think of the company online, or with the local Better Business Bureau. Perhaps the best place to find a recommendation, however, is from a colleague in your industry. Ask other people in your field what they think of the vendor, or what vendor they use for that particular product or service.
Finally, it can be worth looking at authorities in your field to see who it is that they trust. If a large company uses a particular vendor, it indicates that their product is reliable. On the other hand, those companies may not exactly be set up to deal with small businesses in the same way that they’re set up to deal with larger corporations. There is rarely a one-size-fits-all vendor, so be sure to find out if the vendor regularly deals with smaller businesses like yours.
There’s really no secret to finding long-term reliable vendors. You just need to be diligent about who it is you select to do business with. Take the time to carefully select the right vendor, and you’ll save yourself plenty of time, headaches and money down the road.
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