164 - How to Negotiate with Vendors Effectively with Stephen Dunn

Scale Your Small Business

In this episode of Scale Your Small Business, we’re shining the spotlight on the Chief Operating Officer of Exeter Building Company, Steven Dunn. He will share with us how to negotiate with vendors effectively and how to handle and prevent the “fires” that small business owners encounter every day.

Here are the top takeaways from this episode:

• It's critical if you have a team to leverage them. When you experience fires, it's important to involve them to help you problem-solve. This helps your team grow and shows them you have confidence in them to solve problems.
• Negotiating on more than just price is critical. Focusing on just price can lead you into traps, but you learn every time.
• Review and rate your vendors regularly. Consider their importance to your business. What is their cost? What is their work quality? Get feedback from your team. Use the feedback to negotiate with your vendors by comparing them to their competitors.

To access the full video, show notes and resources from this episode, please visit https://scaleyoursmallbusiness.org/blog/.

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