Published: July 23, 2007
Choosing Your Vendors
By Joel Block
Who do you do business with? How do you select your vendors? How do you figure out who the best person is to render services to you or your company? I'll tell you that some of the most important factors from my perspective include how cooperative the person is and how helpful he or she is in helping me advance my endeavors and ambitions.
I'm known to say - and I say this boldly - "I do business with people who do business with me."
I don't think there's anything wrong with saying that up front to people who you are considering making suppliers to your company. Suppliers have the ability to make introductions to potential customers and to provide additional resources and support that your company needs. Small companies and growing companies need all the friends they can muster, and unfortunately, sometimes money makes people a little friendlier. If someone thinks they may become one of your vendors, they might try just a little harder and root just a little bit more for your success. So I don't think there's anything wrong with laying the ground rules in a new relationship by saying that you do business with people who do business with you.
Obviously, this isn't going to be effective if the prospective vendor is very large, but if it's a situation in which a medium company is doing business with another medium company, or a small company is doing business with another small company - if there's parity in the relationship - you certainly can say it. I guarantee that the person you're saying it to will understand what you're saying, and the idea will probably resonate for him or her, too.
So, as you are working hard every day to build your company, or as you're building your career, don't be bashful about letting people know that you do business with people who do business with you.
About Joel G. Block
Often dubbed a "Growth Architect" by his clients, Joel Block advises companies on explosive growth strategies by driving revenue and sales. Well known in the capital markets, Joel is a successful entrepreneur, speaker and advisor. To bring Joel into your company, please visit
www.joelblock.com or
www.growth-logic.com.
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