Do you think of equipment vendors only as line items on the budget for your capital equipment projects? Maybe you should think of them more as valuable resources with more to offer than just pieces of machinery. Every relationship that you can draw on to make your projects successful is an asset that you bring to the table; another tool in your toolbox.
Here are some tips for making the most of your vendor relationships. As you read through them, you’ll likely realize that these relationships take time to establish along with sustained effort. One way to jumpstart the process is to partner with a consultant who has made it a priority to establish and maintain relationships with quality vendors.
Think of Vendors as Assets
Keep in mind that vendors provide equipment to industries outside of wineries. Through their experience with a variety of customers, they’ve often encountered unexpected challenges not too dissimilar to the ones you face and successfully implemented creative solutions.
Take advantage of vendor insight and knowledge as if they possess a kind of foresight or sixth sense. Keep in mind; these contacts are also valuable after the capital project ends. They offer troubleshooting tips from experience or can share lessons learned in the field.
Reciprocate Relationships
There is that old adage: treat others as you would like to be treated. Reciprocity is especially valid with vendor relationships. Remember, relationships with vendors are a two-way street. Utilize their expertise, but don’t waste their time or keep them waiting unnecessarily. Even if you decide to engage with another company, reward their efforts with other opportunities and refer them to colleagues or other friends in the business.
Reciprocating also means treating consultants and vendors with respect and gratitude. There will come a time when you leave a message for a vendor, and you will expect a call back even if they can’t help with your request. So, always return calls even if it is to say, “I don’t need anything at this time.” Use the call as an opportunity to strengthen the relationship.
Stay in Touch
Do you have one of those friends who only calls when they need help with something? How does that make you feel? This is similar to how some companies treat their vendors. Relationships with vendors are ultimately predicated on a business transaction. However, sometimes you just need that favor; a budgetary price or the name of someone you both worked with a long time ago. Maintaining contact with a vendor between those requests can mean the difference between “Who are you?” and “We are here for you!” when you call.
Consultants have many customers. Maintaining contact with them between projects can elevate you to ‘preferred client’ status. And it doesn’t take much. It can be as simple as sending company holiday cards. Make arrangements to catch up over lunch (and offer to buy occasionally) or during tradeshows. Be sure to show an interest in their latest offerings. You never know when it will help you solve a problem.
Pay it Forward
Keep in mind, vendors are invested in the success of your project as much as you are. It is also a good idea to invest in their success. The more successful they are, the more insight and support they can offer you.
Beyond the success of any individual project, pay forward achievements by sharing leads, offering testimonials, and providing your project insights. Be sure to meet with vendors after a project is done to share successes, provide honest feedback, and to find what you can do to help them out.
Work the Network
In the grand scheme of things, the wine industry is small and niche. It is no surprise that vendors, consultants, and producers either know each other or are familiar with one other…and their reputations. As such, you partially derive good standing in the network from good relationships. Since your reputation precedes you, it’s worth the effort to make sure yours is a good one.
These five points are a few of the keys to maintaining good vendor relationships, but ultimately, the best reason is satisfaction. Seriously, as long as we all have to work for a living, we might as well enjoy it. There is nothing better than enjoying what you do for a living. Interpersonal relationships are a significant part of any job. Things just run more smoothly when you share common ground. And good relationships are the difference between dreading a two-hour meeting with a vendor and genuinely looking forward to spending the time working with people you like. When relations are friendly and pleasant, work is just plain more fun.
At PAMC, we embrace the familiarity among members of our network and encourage their interaction through our PAMC Networking Gatherings. During packaging shows, we invite clients, industry peers, and vendor representatives to gather and network with each other. The gatherings have proven to be an excellent way of building strong inner-industry relationships. If you’re not receiving announcements for these events, contact us at info@malcolmconsulting.com to get on the list.
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