Picking a vendor is an extremely important decision. Making the wrong decision can dramatically affect your business. I always strive to not only pick a good, reputable business but a long term partnership.
Since this can be an overwhelming process due to the seemingly endless number of options out there, here’s how I try to approach it.
Outline my goals
What are my pain points? Write down what you don’t like about your current vendor and what you are looking for in a new one.
Try to get as specific as possible. I literally write down what I love, hate and want. You have to have a wish list that doesn’t exclude anything. Hopefully, you’ll find a company that can do everything you desire and more.
Establish a timeline
After a raving review from a trusted source, it can be very easy to jump ship with one vendor and quickly sign up with a new one. Never do that!
I write down when I want to start talking to new vendors, when I want to see new offerings and when I need the new services.
I try really hard to pin down the week and day. Once I have this timeline, I share it with anyone will be affected.
My vendor selection process
I usually start searching for vendors by looking at online reviews and talking with trusted people. From there, I will call the vendor and take note of our interaction.
I generally ask questions about the company’s service. How does the employee respond? My real main concern is how helpful are they? A red flag to me is if I keep getting transferred multiple times before they answer my question.
another thing to consider is how helpful and informative is their website. Can I get all my questions’ answered over the web?
Asking for References
I usually narrow my list down to two or three companies and then ask for a list of references. I generally don’t care if their clients are in my industry and of a similar size to your business and geographic location. However, if you do – get them to give you that info.
I always ask the references the following questions:
- How do you like the service you are receiving?
- How long was the set-up process?
- How is the vendor’s customer service?
- Are your problems resolved?
- What can you do better?
- What do you love about them?
Making my Final Decision
At this stage, trust your gut and all your research. Of course, you have to consider their price but let their service record, recommendations from others customers and your feelings toward the vendor have more clout. Feel confident in your decision and then act.