Stretching Your Dollar

  Career Development  

The tables have turned and it seems that the customers are back in control rather than the vendor. Let's review some successful negotiating tactics that you can put into action with your next new vendor or to use in reevaluating your preferred vendor list. Remember, there is more than one way to negotiate the right price for the equal amount of service, so why not start saving some money in your already tight budget today?

Starting Point

Naturally, one of the best ways to get the best price from your vendor is to have a preferred vendor with whom you place a high percentage of your business. Along with that relationship and your ability to pay your invoices promptly (a fault some companies are notorious for in the market place), you can receive years of faithful and diligent service. However, in this day and age, where budgets have been slashed but your needs have increased, you may have to diversify your outsourcing or vendors needs to get the most bang for your buck. That being the case, the next best strategy to getting the best prices from your vendors is to let them know you are opening up the floor for negotiation!

Do Your Market Research

How do you stretch your budget dollar and still get an optimum level of service? First and foremost, you have to know your market. Lets assume that you are outsourcing a project. Obviously you are going to begin by …

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