No More Bad Fits! How to Choose Vendors That Actually Work For Your Business
Evaluating the compatibility and fit of vendors with a business is just as important as evaluating the fit of leaders. If you have a poor mindset of vendors, it’s going to drag your company down no matter how great you are.
The right vendors can help your business grow and thrive, but the wrong ones can lead to operational debt, inflated processes, and missed opportunities. Many people think of vendors according to contracts, pricing and availability. Have you ever thought that the mindset of the leader ship of those vendors is equally as important as the price?
Take for example hiring a law firm. Most lawyers are highly disciplined with some level of expertise mindset. Can you imagine a lawyer who is results driven? There are some. The chance of you finding a firm that is capable, know the trade, but are focused on your business outcome…. It is possible to find them using remote mindset capabilities. In this situation I would canvas the possible law firms you want to work with. Would compare and contrast their mindset and an understanding of who’s joining and who’s leaving their firm. That would be quite telling to determine how aligned they are to the outcome of your business. I’m making one big assumption…. You are results driven as well.
When evaluating potential vendors, it’s important to consider their mindset types and capacity. Are they results-driven and forward-thinking, or are they focused on short-term gains and reactive solutions? Do they have the capacity to scale with your business and support your growth, or will they be a bottleneck?
By taking a strategic and proactive approach to vendor selection and management, you can position your business for growth and maximize the value of your vendor relationships.