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Jun 13

Here’s the old way to buying:

      You, the buyer, are in charge.
      You don’t trust the seller.
      Your objective: cheap as possible.
      Meeting/relationship is adversarial.
      You tell the vendor what to do and how to do it.
      Withhold payment as long as possible.

I confess, I have fallen into the old way of buying many times. I wonder though what would happen if this is how we bought:

      Tell your problem to the seller, and let them tell you what to do
      Trust the seller has your best interests at heart.
      Have a collaborative meeting.
      Your objective: Pay what it takes to accomplish your objective-as long as you have value.
      Pay immediately.

Don’t we want our vendors to do a good job for us, to provide value and to help us solve problems. Then doesn’t it make sense to change the way you buy? Treat your vendors well, pay them fast and thank them for their hard work. What type of treatment do you think you’d get from the vendor if you treated them well?

Bottom line: Use the Golden Rule to get more out of your vendors by treating them as you would want to be treated.

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