The Cashflow Contractor

When choosing your vendor, most people only consider their cost first and foremost… and it makes sense to do that. However, we’re here to tell you that yes, of course, pricing matters, but there are a lot more aspects that you need to keep in mind before settling down with your “perfect vendor.” Listen now to learn our recommendations on what qualifies a good vendor, how you can build a good relationship together, and where you can find the vendors of your dreams.

Show Notes

  • 00:00 - Intro
  • 02:51 - Here’s An Example For You
  • 04:05 - Why Relationships Matter 
  • 05:30 - There’s More To It Than Pricing
  • 06:07 - Why You Need To Build Relationships
  • 06:50 - The most important thing about vendors 
  • 08:50 - How To Ask Your Vendors About Other Vendors
  • 09:25 - So, What Makes A Good Vendor? 
  • 11:26 - You Need To Consider Availability 
  • 12:19 - Having An Ally
  • 13:00 - Why You Should Have MANY Vendors
  • 16:35 - In Summary 
  • 18:00 - Outro


Quotable Moments
  • “A lot of people just worry about price but there’s so much more to it especially with the supply chain issues that are happening right now.” – Martin
  • “Building relationships with your supplier is essential and you need to have them on your team.” – Martin
  • “You need to be sure that your ideal vendor is educated in your industry, they understand the new materials and technology, and that they understand what’s happening in the marketplace because they’re working with so many competitors of yours.” – Khalil
  • “You need to consider the availability of the product but also the availability of delivery too.” – Khalil
  • “You should expect to pay more. If you’re receiving better service, better availability, being more of a priority… that comes with a cost.” – Khalil
  • “Take care of your vendors and they’ll make sure to take care of you.” – Martin


Resources


More from Martin


More from Khalil


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What is The Cashflow Contractor?

If you’re like most contractors we know, then you started your business because you’re passionate about and great at your craft. You also wanted to be your own boss. Owning a business has a lot of advantages, but also a lot of challenges.

We started this podcast to talk about things that matter to you as an owner, like business fundamentals, sales processes, marketing, leadership, and much more. Armed with knowledge, you’ll be able to reach your goals, whether that’s growth, getting your shop to run without you, or anything in between.