After helping a start up business yesterday make vendor decisions something dawned on me. There is one thing I love about LinkedIn and it's what happens behind the scenes. I'm gonna get real here so stop reading if "you can't handle the truth"( Love Jack in a Few Good Men). The sales, the referrals, the Q&A that used to happen at the country club, social club, church, etc. NOW, happens through private message...ALOT! After building personal relationships with colleagues, friends, and vendors for 30+ years throughout Bangor and New England I find the use of private message to be extremely powerful. My network does as well. I know this to be true because I get asked all the time and I answer proudly. I can't even describe how much business is conducted behind the scenes. It's like the good old days but without having to play 18 holes. Stay with me. I have spent north of 100M on products and services, mostly in Bangor. This may be a small number to some, a large number to others but it's still 100M worth of buying experience with a lot of people and businesses in the 207 area code. I always protected the resources of my capital as well as the interests of my investors so I weighed vendors pitches and delivery of products and services very closely. Every single buying decision was mine. I made some great choices and many bad ones that I had to learn from. Some were pretty painful, but I learned. Heck, I'm still learning. Many vendors I used over promised and under delivered. Those never end well. Others under promised and over delivered (my favorite...I still send them Christmas cards) and some priced themselves accordingly. Either way, one gets to know people with the diversified buying power of everything in hotels and restaurants from housekeeping supplies, landscapers, banks, lawyers, insurance companies, marketing agencies, heating companies, waste management, roofers, furniture suppliers, HVAC, office supplies, accountants and about another 157 lines of expenses on the P&L. Simply, you learn who you would refer to your friends and network. You also learn who you would not refer. I appreciate the hundreds of people that I have connected with my network, and the people that have reciprocated back to me. Behind the scenes on LinkedIn is a massive audience with an effect that has snowflake to avalanche type strength, built with trust. So, the next time someone asks me who I have had great experience with as a plumber, pesticide company, security company in PM...I'll be honest. The next time someone asks me in PM who I suggest for anything I have had experience with...I'm truthful. That will never change. I chose Townsquare Media for many reasons. Some of you are current clients of mine and get asked in PM, "how do you like working with Free"? I encourage that. I want that. I know my network will always be honest and real because to us, there isn't any other way, and that's how we grow. #Bereal #Honest #Truthoverharmony #Townsquaremedia
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🎉👏𝗖𝗼𝗻𝗴𝗿𝗮𝘁𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗻𝗲𝘄 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀...𝗻𝗼𝘄 𝘄𝗵𝗮𝘁? You’ve spent months working with a number of financial and business advisors and you have finally completed the purchase of a new business. You begin to assess the current state of the business on a more detailed level, trying to find ways to increase your overall profit. You will review things like the current product offering/pricing, marketing plans, sales team, etc. 𝗪𝗵𝗮𝘁 𝗮𝗯𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀? How do you know if previous ownership optimized their expenses? How do you know if previous ownership kept vendors out of a sense of loyalty or because they had always done things a certain way? In my experience, many business owners stay with their current vendors because of a sense of loyalty. Over time they have formed professional and sometimes personal relationships with their vendor sales reps. They will say that the vendor has “always been good to them” and this familiarity can breed complacency when it comes to cost. Another reason that many business owners stay with their current vendors is an aversion to change. There is a fear of trying something new and different, even if it would benefit the business. Here are some real-life quotes that I have heard when talking to business owners about vendors: “𝘐 𝘩𝘢𝘷𝘦 𝘣𝘦𝘦𝘯 𝘶𝘴𝘪𝘯𝘨 𝘵𝘩𝘦 𝘴𝘢𝘮𝘦 𝘷𝘦𝘯𝘥𝘰𝘳 𝘢𝘯𝘥 𝘴𝘢𝘭𝘦𝘴 𝘳𝘦𝘱 𝘧𝘰𝘳 𝘢𝘭𝘮𝘰𝘴𝘵 20 𝘺𝘦𝘢𝘳𝘴; 𝘐 𝘩𝘢𝘷𝘦 𝘯𝘦𝘷𝘦𝘳 𝘳𝘦𝘢𝘭𝘭𝘺 𝘵𝘩𝘰𝘶𝘨𝘩𝘵 𝘢𝘣𝘰𝘶𝘵 𝘮𝘢𝘬𝘪𝘯𝘨 𝘢 𝘤𝘩𝘢𝘯𝘨𝘦”. “𝘗𝘢𝘵𝘵𝘺 𝘩𝘢𝘴 𝘣𝘦𝘦𝘯 𝘩𝘢𝘯𝘥𝘭𝘪𝘯𝘨 𝘰𝘶𝘳 𝘱𝘶𝘳𝘤𝘩𝘢𝘴𝘪𝘯𝘨 𝘧𝘰𝘳 𝘰𝘷𝘦𝘳 10 𝘺𝘦𝘢𝘳𝘴. 𝘐 𝘢𝘮 𝘴𝘶𝘳𝘦 𝘵𝘩𝘢𝘵 𝘗𝘢𝘵𝘵𝘺 𝘪𝘴 𝘥𝘰𝘪𝘯𝘨 𝘢 𝘨𝘰𝘰𝘥 𝘫𝘰𝘣 𝘢𝘯𝘥 𝘐 𝘥𝘰𝘯’𝘵 𝘸𝘢𝘯𝘵 𝘵𝘰 𝘶𝘱𝘴𝘦𝘵 𝘵𝘩𝘦 𝘢𝘱𝘱𝘭𝘦 𝘤𝘢𝘳𝘵.” “𝘔𝘺 𝘣𝘳𝘰𝘵𝘩𝘦𝘳-𝘪𝘯-𝘭𝘢𝘸 𝘸𝘰𝘳𝘬𝘴 𝘧𝘰𝘳 𝘰𝘶𝘳 𝘷𝘦𝘯𝘥𝘰𝘳 𝘢𝘯𝘥 𝘐 𝘤𝘢𝘯𝘯𝘰𝘵 𝘳𝘦𝘢𝘭𝘭𝘺 𝘮𝘢𝘬𝘦 𝘢 𝘤𝘩𝘢𝘯𝘨𝘦 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘤𝘢𝘶𝘴𝘪𝘯𝘨 𝘧𝘢𝘮𝘪𝘭𝘺 𝘪𝘴𝘴𝘶𝘦𝘴.” “𝘔𝘺 𝘦𝘮𝘱𝘭𝘰𝘺𝘦𝘦 𝘵𝘰𝘭𝘥 𝘮𝘦 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦𝘳𝘦 𝘪𝘴 𝘯𝘰 𝘰𝘵𝘩𝘦𝘳 𝘷𝘦𝘯𝘥𝘰𝘳 𝘵𝘩𝘢𝘵 𝘤𝘢𝘯 𝘥𝘰 𝘸𝘩𝘢𝘵 𝘰𝘶𝘳 𝘤𝘶𝘳𝘳𝘦𝘯𝘵 𝘷𝘦𝘯𝘥𝘰𝘳 𝘥𝘰𝘦𝘴 𝘧𝘰𝘳 𝘶𝘴.” A vendor audit is great way to know if your business expenses are optimized, as it will answer the following questions for each cost area that is reviewed: • What is the current cost structure and how does it compare to the marketplace? • Are there any billing issues or errors that have been missed or ignored? • Are there products or services that are being paid for but are redundant or simply not being used? • Are there any process or procedural changes that would help reduce your business expenses? Why not take a fresh look at the vendors being used in your new business? With Schooley Mitchell, vendor audits are always risk and cost-free. If you would like to talk about a vendor audit, please reach out to me at Robyn.Bowles@SchooleyMitchell.com.
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Healthcare IT Leader | Driving Innovation & Excellence | Transforming IT Strategy & Infrastructure | Modern Mentor & Change Catalyst
It’s tempting to go for the cheapest quote, especially when budgets are tight. But experienced IT leaders know that chasing the lowest price can often lead to bigger problems down the road—missed deadlines, poor quality, or even strained vendor relationships. 💡
Vendor Relationships: Why It’s Not Just About the Lowest Price - It’s tempting to go for the cheapest quote, especially when budgets are tight. But experienced IT leaders know that chasing the lowest price can often lead to bigger problems down the road—missed deadlines, poor quality, or even strained vendor relationships. 💡 The real win comes from focusing on value. When you approach quotes with a "win-win" mindset, both your organization and the vendor are set up for success. Here’s why: 🤝 Build Partnerships, Not Just Transactions: A strong vendor relationship can lead to faster response times, better support, and even future discounts. Vendors who feel valued often go the extra mile. 🔍 Focus on Long-Term Benefits: Choosing a vendor based on long-term value—like expertise, service quality, and alignment with your strategic goals—often ends up saving more time and money than the cheapest option. 🚫 Avoid the ‘Race to the Bottom’: When cost is the only consideration, the quality of service can take a backseat. In my experience, vendors who win on price alone may cut corners elsewhere. Don’t let that happen to your project. ✔️ Be Transparent About Your Needs: During the quoting process, it’s essential to communicate what’s most important to you beyond the price. Is it faster delivery? Better support? Custom solutions? Let the vendor know what drives your decision-making, and you'll likely end up with a deal that benefits both sides. 💬 Think About the Win-Win: Vendors aren’t in business to give away their services for free. Financial profit is part of their bottom line, but so is their reputation. What can you offer beyond a higher price? Maybe it’s your company logo on their sales deck after a successful implementation, or co-authoring a white paper together. Think creatively—what are you and your company willing to offer that adds value to both sides of the equation? As IT leaders, we must look beyond immediate savings and focus on partnerships that deliver sustained value and impact. After all, we’re not just making a purchase—we’re making an investment in our organization’s future success. 💼 In my years working with vendors, the most successful relationships have always come from focusing on shared goals rather than squeezing every last dollar. Trust and value will always outperform a race to the bottom. How do you approach vendor negotiations? Share your insights in the comments below! #VendorManagement #StrategicPartnerships #ITLeadership #ValueOverCost #ProcurementExcellence #TechLeadership #ModernITLeader #MeetThemWhereTheyAre #ModernMentor
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📈 CRO 📈 @ Owner.com, Host of the Revenue Leadership Podcast & SaaS GTM Advisor & Investor
I’ve talked to a LOT of vendors lately and most of them don’t know how to run a proposal call and it’s probably costing them millions of dollars in ARR. 😬 I’m going to share a very easy proposal framework that you can use today to improve win rates. 📈 You can get a lot more sophisticated but this would get you to 80% good. 🏗️ Here’s the framework 🏗️ 1️⃣ What we heard Play back to your buyers your understanding of their situation. Show them that you were listening and you’re a credible advisor. Layout their current state and where you’ve identified problems and opportunities. Start wide and narrow into the problem area that you can help with. Ask them what you missed. 2️⃣ How we’ll help Based on that current state, paint a picture of the future. This isn’t a technical picture, these are business outcomes and the remediation of individual pressures. Ask them what issues you haven’t addressed that are important for them in this area of their business. 3️⃣ Solution Outline the proposed solution. This is your product, configuration for their specific use case and the implementation journey all the way through first value. Don’t just show stock slides but use this as an opportunity to paint a picture of the future for your buyers. The more you can help them live that future state the better. Ask them what parts of the solution seem the least confident so you can pull out concerns and discuss. 4️⃣ Pricing & ROI Keep it simple. Don’t overwhelm your customers with pricing variants. You should have an opinion on what they need if you’re doing it right - you’re the expert on your product. Ask them how they would think about getting budget for a spend like yours. 5️⃣ Proof Show the customer that you can actually deliver. This is especially critical if you’re an early stage startup. Provide a business case, ROI model, analysis, testimonials, case studies, pilot evidence or whatever else you’ve got. Ask them how else they would want to validate that you can do what you’re proposing. 6️⃣ Summary Playback the most important stuff. Remember that serial position effect means that your buyers will remember the first and last things you said more than anything else. You need to finish strong with your most compelling points and close your proposal with confidence and enthusiasm. Ask them about how they’ve made decisions for similar products in the past. Who gets involved, how are decisions made, how do things get signed off on? 7️⃣ Next steps Clearly define what you propose for next steps. Outline the next sequence of steps from today all the way through launch and first value so they understand the full customer journey. Ask them what needs to be modified based previous experiences. Modify your next step slide in real time to create a collaborative mutual plan. If you can execute on this framework, you’ll be ahead of 95% of other startups. Get good at the basics and you’ll be amazed at how much better your proposal calls go.
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"That guy probably lost his job over the deal I made him take to get any of my business." "They lost money on me with that one!" Sounds familiar, doesn't it? If you're an IT or procurement professional, vendor calls, special deals, and other promotional activities are part of your everyday routine. You need these vendors for products and services to do your job correctly. These quotes are real-life comments from networking events, where people take pride in how they pushed (or bullied?) a salesperson into a deal that might not be favorable for them. They see this approach as their strategy for all vendor interactions. But is this really the way to manage vendor relations, or any interpersonal relationship? I get it. As a leader with budgets and projects, your job is to achieve goals as cost-effectively as possible. However, remember that the person on the other end also has a job to do - secure business and maximize profit for their company. At first glance, these two objectives may seem mutually exclusive, but there's one factor that can unite them: Respect. Those earlier quotes reflect a glaring lack of respect for individuals. For success, you need to build business relationships, no matter your department or role. Being a successful leader means establishing trusted business relationships with your vendors and vice versa. This two-way street is only navigable when both parties respect each other, their financial needs, and their jobs. As a tech leader, when negotiating for non-standard, non-commodity products or professional services, it's crucial to know your budget, have a rough idea of costs and know was “success” is. If you're not familiar with these details, you're not ready to negotiate with vendors. From the vendor's side, they must be aware of their delivery capabilities, products and services, and required profit margins. Although you can get the lowest price by berating a vendor, consider the long-term cost. Will they help your project succeed? Will they go an extra mile for you? I've been successful in my projects because I take time to also understand my vendor's needs. If they cannot meet my requirements within my budget, I respect them enough to say so upfront, saving everyone's time. The outcome? I've had vendors pick up the phone on a major holiday, send items overnight via private couriers at no extra cost to me, provide same-day part deliveries during a critical outage, and without my ask, cut prices on one-off items when I'm in a budget crunch. All because I've respected their needs and their business. Sure, I might have spent a small bit more, but the results affirm it was worth it. My challenge to you is simple: Treat your vendors with respect, and see how your projects streamline and your partnerships flourish.
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Director of Sales ThincForward. I help businesses maximize every dollar they spend on IT, Security and Telecom services.
Always reminds me of the quote that a successful negotiation is one where both parties feel like they benefited. If one party feels burned, rest assured their future interactions with the other party will be influenced by that previous experience. As the saying goes penny wise and dollar foolish. In an industry known for people only thinking short term and doing everything possible to justify their existence next quarter, this approach to making sure both sides benefit seems to be becoming more and more rare. But rest assured this is exactly how long-term relationships and sustainable success are achieved.
"That guy probably lost his job over the deal I made him take to get any of my business." "They lost money on me with that one!" Sounds familiar, doesn't it? If you're an IT or procurement professional, vendor calls, special deals, and other promotional activities are part of your everyday routine. You need these vendors for products and services to do your job correctly. These quotes are real-life comments from networking events, where people take pride in how they pushed (or bullied?) a salesperson into a deal that might not be favorable for them. They see this approach as their strategy for all vendor interactions. But is this really the way to manage vendor relations, or any interpersonal relationship? I get it. As a leader with budgets and projects, your job is to achieve goals as cost-effectively as possible. However, remember that the person on the other end also has a job to do - secure business and maximize profit for their company. At first glance, these two objectives may seem mutually exclusive, but there's one factor that can unite them: Respect. Those earlier quotes reflect a glaring lack of respect for individuals. For success, you need to build business relationships, no matter your department or role. Being a successful leader means establishing trusted business relationships with your vendors and vice versa. This two-way street is only navigable when both parties respect each other, their financial needs, and their jobs. As a tech leader, when negotiating for non-standard, non-commodity products or professional services, it's crucial to know your budget, have a rough idea of costs and know was “success” is. If you're not familiar with these details, you're not ready to negotiate with vendors. From the vendor's side, they must be aware of their delivery capabilities, products and services, and required profit margins. Although you can get the lowest price by berating a vendor, consider the long-term cost. Will they help your project succeed? Will they go an extra mile for you? I've been successful in my projects because I take time to also understand my vendor's needs. If they cannot meet my requirements within my budget, I respect them enough to say so upfront, saving everyone's time. The outcome? I've had vendors pick up the phone on a major holiday, send items overnight via private couriers at no extra cost to me, provide same-day part deliveries during a critical outage, and without my ask, cut prices on one-off items when I'm in a budget crunch. All because I've respected their needs and their business. Sure, I might have spent a small bit more, but the results affirm it was worth it. My challenge to you is simple: Treat your vendors with respect, and see how your projects streamline and your partnerships flourish.
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Associate Director @ HTC | PMP | Project Management, SAP S/4HANA | PMO | IT Program Risk Management
Absolutely agree! Respect in vendor relationships goes beyond transactional gains—it builds a foundation for mutual success and trust. Your experiences vividly illustrate the long-term benefits of treating vendors as partners, not just suppliers. Let's champion respect and collaboration to achieve our goals and foster lasting partnerships
"That guy probably lost his job over the deal I made him take to get any of my business." "They lost money on me with that one!" Sounds familiar, doesn't it? If you're an IT or procurement professional, vendor calls, special deals, and other promotional activities are part of your everyday routine. You need these vendors for products and services to do your job correctly. These quotes are real-life comments from networking events, where people take pride in how they pushed (or bullied?) a salesperson into a deal that might not be favorable for them. They see this approach as their strategy for all vendor interactions. But is this really the way to manage vendor relations, or any interpersonal relationship? I get it. As a leader with budgets and projects, your job is to achieve goals as cost-effectively as possible. However, remember that the person on the other end also has a job to do - secure business and maximize profit for their company. At first glance, these two objectives may seem mutually exclusive, but there's one factor that can unite them: Respect. Those earlier quotes reflect a glaring lack of respect for individuals. For success, you need to build business relationships, no matter your department or role. Being a successful leader means establishing trusted business relationships with your vendors and vice versa. This two-way street is only navigable when both parties respect each other, their financial needs, and their jobs. As a tech leader, when negotiating for non-standard, non-commodity products or professional services, it's crucial to know your budget, have a rough idea of costs and know was “success” is. If you're not familiar with these details, you're not ready to negotiate with vendors. From the vendor's side, they must be aware of their delivery capabilities, products and services, and required profit margins. Although you can get the lowest price by berating a vendor, consider the long-term cost. Will they help your project succeed? Will they go an extra mile for you? I've been successful in my projects because I take time to also understand my vendor's needs. If they cannot meet my requirements within my budget, I respect them enough to say so upfront, saving everyone's time. The outcome? I've had vendors pick up the phone on a major holiday, send items overnight via private couriers at no extra cost to me, provide same-day part deliveries during a critical outage, and without my ask, cut prices on one-off items when I'm in a budget crunch. All because I've respected their needs and their business. Sure, I might have spent a small bit more, but the results affirm it was worth it. My challenge to you is simple: Treat your vendors with respect, and see how your projects streamline and your partnerships flourish.
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Experienced Chief of Staff | Project Management Professional | Certified Scrum Master & Product Owner | Skilled Project & Program Manager | Stakeholder Advocate | Proud LGBTQ+ Ally | Creative Collaborator | Feral Gen-Xer
🌟 Re-sharing with a strong belief that all business relationships should rest upon the pillars of mutual trust and respect. 🌟 In a world where business interactions often feel (eeewwwww!) 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘢𝘭, it's paramount to emphasize the human element in them. Without genuine respect and trust between parties, the foundation of any business relationship remains shaky at best. Join me in championing a culture where respect and trust are not just values, but the very essence of how we conduct business. Read on to explore why fostering these qualities is non-negotiable in the realm of successful partnerships.
"That guy probably lost his job over the deal I made him take to get any of my business." "They lost money on me with that one!" Sounds familiar, doesn't it? If you're an IT or procurement professional, vendor calls, special deals, and other promotional activities are part of your everyday routine. You need these vendors for products and services to do your job correctly. These quotes are real-life comments from networking events, where people take pride in how they pushed (or bullied?) a salesperson into a deal that might not be favorable for them. They see this approach as their strategy for all vendor interactions. But is this really the way to manage vendor relations, or any interpersonal relationship? I get it. As a leader with budgets and projects, your job is to achieve goals as cost-effectively as possible. However, remember that the person on the other end also has a job to do - secure business and maximize profit for their company. At first glance, these two objectives may seem mutually exclusive, but there's one factor that can unite them: Respect. Those earlier quotes reflect a glaring lack of respect for individuals. For success, you need to build business relationships, no matter your department or role. Being a successful leader means establishing trusted business relationships with your vendors and vice versa. This two-way street is only navigable when both parties respect each other, their financial needs, and their jobs. As a tech leader, when negotiating for non-standard, non-commodity products or professional services, it's crucial to know your budget, have a rough idea of costs and know was “success” is. If you're not familiar with these details, you're not ready to negotiate with vendors. From the vendor's side, they must be aware of their delivery capabilities, products and services, and required profit margins. Although you can get the lowest price by berating a vendor, consider the long-term cost. Will they help your project succeed? Will they go an extra mile for you? I've been successful in my projects because I take time to also understand my vendor's needs. If they cannot meet my requirements within my budget, I respect them enough to say so upfront, saving everyone's time. The outcome? I've had vendors pick up the phone on a major holiday, send items overnight via private couriers at no extra cost to me, provide same-day part deliveries during a critical outage, and without my ask, cut prices on one-off items when I'm in a budget crunch. All because I've respected their needs and their business. Sure, I might have spent a small bit more, but the results affirm it was worth it. My challenge to you is simple: Treat your vendors with respect, and see how your projects streamline and your partnerships flourish.
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Negotiating with vendors can be intimidating. But, it can save you a ton of money. How to do it right: 👉 Do your research - Know what similar vendors charge 👉 Don't make the first offer - Let them go first 👉 Don't accept the first offer - Counter with an offer that's lower 👉 Be firm, but friendly - Work on building a long-term relationship 👉 Know when to walk away - Sometimes it's just not worth it Remember, it's not always about getting the lowest price. It's about getting the best value for your money. Happy negotiating!
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We help property managers make informed decisions when selecting vendor partners. The days of lowballing bids to win opportunities is coming to an end. Vendors 👉🏼 Use our platform to back up your company's claims when bidding jobs. Do this by collecting reviews for your work on the ONLY platform dedicated to our industry. Remember: the best predictor of future success is past performance. Remove all doubt from managers/boards by highlighting your history of successful partnerships. Make the switch from untrustworthy platforms like Yelp and Google to 'VENDORS' today -> discovervendors.com ..and don't forget!!! If you're a property manager in SoCal, join 'Vendors' today and get a shot at winning $5,000!!!!!!!!!!!!!
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5 Tips for Building Strong Vendor Relationships (via CO— by U.S. Chamber of Commerce): https://ow.ly/TgOg50RizOF #GrowWithCO #USChamberofCommerce #smallbusiness #smallbiz #businessvendor #vendors
Making millionaires out of earners 🚀
8moOne of the best parts about starting Stillwater Investing has been the improvement to my network. So many of the people I'm helping are the best and brightest among us. Carpenters, electricians, plumbers and of course small business owners. It was a huge bonus that I never saw coming.