Do You Nickel and Dime Your Vendors?
August 21st, 2006 by Bob Bly
Do you nickel and dime your suppliers?
Do you always or usually select the low bid for services?
Perhaps you should not, advises businessman George Newman.
“Sometimes it pays to overpay,” says George in an interview with Bottom Line Personal (9/1/06, p. 7).
“The best service professionals usually are in the greatest demand,” he says.
Newman recommends that when you find a vendor you like, you should do what you can to make him like you more than he likes his other clients.
Reason: you will get better treatment, quality, service, and turnaround.
How about you?
Do you buy business, professional, and personal services based on the low bid?
Or are you willing to pay a higher price to (a) hire the most experienced and qualified vendor, and (b) motivate them to do the absolute best they can on your project?
This entry was posted on Monday, August 21st, 2006 at 2:28 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
August 21st, 2006 at 5:44 pm
Hey Bob;
I agree with George. Clients, “do not nickel and dime your talent!”
Personally, if someone starts asking for discounts, they fall into a category that I do not like to do business with.
Unless you are Wal*mart or commit to serious volume, I honestly do not think businesses should try to squeeze pennies. I do not blame them for trying. However, I let my prospects know, “I have people waiting to work with me and they pay my full rate. If you were me, who would you rather work with.”
Mike
August 21st, 2006 at 6:24 pm
Mike, I say basically the same thing: “I have more people waiting in line to hire me at my full fee than I could ever hope to handle. What’s my incentive to work for you at a cut rate?”
August 22nd, 2006 at 7:02 am
My full time work is as an investment advisor. I don’t mind people asking about fees, but if they bring it up before anything else and if they display a certain attitude, I know they will not make good long term clients and tell them so.
There’s a type of people out there that always feels they are being cheated. These prospective clients seem to live in more fear of overpaying a few cents than actually accomplishing their goals. And they’ll question everything and spoil the relationship.
August 22nd, 2006 at 10:03 am
George is absolutely right. I have clients who nickel and dime me, and others who don’t. For whom do you think I am more likely to go out of my way, bend over backwards, and generally go that extra mile, each and every time? The client who VALUES me most by not expecting me to work for peanuts, or less. Sure, I know clients have budgets and they like a good deal, and I’m sensitive to their issues. But more and more, I won’t even ACCEPT a new client if it seems they are only “bottom line” people where the money is the main factor for them. I’d rather work with a client who appreciates what I bring to the table.
Bob, I love your response: “What’s my incentive to work for you at cut rate?” I’m going to remember that one.
August 22nd, 2006 at 4:53 pm
As my colleague RM points out: the best bargain in the world is the low price of good advice.
August 22nd, 2006 at 10:35 pm
I work hard to give my clients enormous value. Most of them realize it.
I don’t mind discussing fees of course, but the discussion should focus on value. What exactly am I providing of value? Why me instead of Joe Blow down the street? What else can I do to do help, e.g. make my clients lives easier?
When a discussion concentrates on fees, I send them to Walmart!
I sometimes point out, in my exact words, “I’m not selling used cars, why are you treating me like a used car salesman?” This work well, unless you’ve been relegated to the dreaded accounts department, Global Procurement, or whatever they call those weasels 🙂
August 23rd, 2006 at 10:26 am
One of the great benefits of the Web, it seems to me, is that previously-unconnected professionals got to get together to learn how others in basically the same situation deal with the sticky situations we all face.
I have definitely gotten better at handling what I now call the “crazed bargain seekers” – ’cause I’ve learned through my own & others’ experience that there’s just no pleasing them. Happily, most of us are in situations where we can just say, “No!” (I’d hate to be a car salesperson myself — all the endless haggling!)
In important situations, I WANT to be someone’s very good client. I’ve actually found it’s more likely to be the person with the lowest price who’s trying to take advantage in some way. (They know they can’t or won’t be able to handle the work, for example.)
Rarely – if ever! – has it been the mid-to-highest-priced person/company. They’re usually the complete, bend-over-backwards to do a good job professionals!
August 24th, 2006 at 8:18 am
The adage is true: You get what you pay for. This holds true for services even more than for products. Case in point is printing services. I have experienced enormous frustrations using FedexKinkos for small print jobs. My local family-owned print center does the job right the first time, every time, at a price premium of maybe 10%. And they greet me with a smile.
I don’t expect to be squeezed on fees and I don’t expect my partners and vendors to work for pennies either. Rare is the case where the low price gives the best results.
Chris Lake
September 1st, 2006 at 2:03 pm
I agree to a point. I have several printers who charge high fees, and I have no problem asking if that’s the wholesale price. 9 times out of 10 I’ll get a small discount (or, in the last instance, 40 percent). Internet printers are generally charging for one-shot printings, but since I will bring them a lot of business, a volume “corporate” discount is in order. One printer wanted to charge me a 35 cent combining charge, when the combining was done on their website by me. When I asked about this charge, inquiring if it really did require more work on their part, they told me that it was how they make up for their R&D costs. I asked them to recode it as R&D and they elected to drop it.
Graphics Designers, on the other hand, because I have no skill that way, I pay well and promise a small bonus if the client makes a very positive comment on the art. I’ll pay it, too.
June 18th, 2007 at 7:26 am
Hello! Good Site! Thanks you! vqoraugbtaz
September 8th, 2011 at 10:53 am
[…] #split {}#single {}#splitalign {margin-left: auto; margin-right: auto;}#singlealign {margin-left: auto; margin-right: auto;}.linkboxtext {line-height: 1.4em;}.linkboxcontainer {padding: 7px 7px 7px 7px;background-color:#eeeeee;border-color:#000000;border-width:0px; border-style:solid;}.linkboxdisplay {padding: 7px 7px 7px 7px;}.linkboxdisplay td {text-align: center;}.linkboxdisplay a:link {text-decoration: none;}.linkboxdisplay a:hover {text-decoration: underline;} function opensingledropdown() { document.getElementById('singletablelinks').style.display = ''; document.getElementById('singlemouse').style.display = 'none'; } function closesingledropdown() { document.getElementById('singletablelinks').style.display = 'none'; document.getElementById('singlemouse').style.display = ''; } It is a case of suicide committed by the deceased by consuming insecticide poison. It is alleged that the accused was harassing the deceased who was working as nurse and was behaving cruelly towards her for the sake of her salary and other financial benefits. This is not a case where the husband harassed a wife (legally married wife) resulting in death of the wife by suicide, in order to attract either Section 498-A or Section 304(B) I.P.C. If the accused asked or demanded or harassed the deceased for her salary and other finances, suicide is not the only solution for such harassment, particularly when there is no legal bondage between them as man and wife. The definition of ‘cruelty’ contained in Section 498-A I.P.C. has no application in this case, because of anomalous relationship between the accused and the deceased. Taking the prosecution allegations on their face value, they do not disclose requirements of Section 107 I.P.C. for abetment either by way of instigation or by way of intentional aiding. In the absence of basic ingredients of abetment in this case, the question of attracting Section 306 I.P.C. does not arise at all in this case.Geogame World Series – The #1 World Trivia Game for iOSMondays In the Humidor: The Cigar on The Ash Package and MoreLetter from London: Face ValueThe Book of Mormon Selling Price vs. Face ValueThe Handmade Cocktail Company’s “Old Fashioned” Pre-Mixed BourbonDo You Nickel and Dime Your Vendors? – bly.com blog – bly.com direct marketing blog […]
July 10th, 2013 at 4:01 pm
Good day very nice site!! Guy .. Beautiful .. Superb .. I’ll bookmark your blog and take the feeds also?I’m satisfied to find so many helpful information right here within the submit, we’d like develop extra strategies on this regard, thank you for sharing. . . . . .
June 12th, 2021 at 1:40 am
puppies for sale,pug puppies for sale in oregon,pug puppies for sale in az,pug puppies for sale in va,pug puppies near mepugs for sale,pug puppies for sale,pugs for sale near me,cheap pugs for sale,pug puppies for sale near me teacup pug [ We concerned with earning money. All our Pug puppies are raised at home in a family/friendly environment making our Pug puppies completely at ease with other pets.pugs for sale,pugs for sale near me,cheap pugs for sale,pug puppies for sale,pug puppies for sale near me.
https://pugslandbreeder.company.com
June 29th, 2021 at 2:00 am
https://savannahbengal.company.com/
July 7th, 2021 at 4:55 am
The things that businessman George Newman say always have a great influence on those who are just starting out in business or some other field. Newman recommends that when you find a vendor you like, you should do what you can to make him like you more than he likes his other clients.
August 5th, 2021 at 1:02 pm
Where can I locate a transmission repair shop? My car’s automatic transmission is slipping and won’t shift gears.
October 15th, 2021 at 6:11 am
Partitioning the component will make the entire price more appealing if it is linked with a specific purpose of the consumers being serviced, such as getting reimbursed for a used automobile being exchanged in34. Recommendation: Partition pricing to nickel and dime your consumers.
Try to hire San Diego Security Company for your personal security.
January 21st, 2022 at 9:29 am
Ndure offers their customers the highest quality jackets for men of all types, including leather, bomber jackets and windbreaker jackets. Get the best available Men’s waterproof jackets online in Pakistan. So, buy the best puffer Jackets and hooded jackets from Ndure online. We bring you high-quality men’s Mock neck black Gilet Jackets.
February 9th, 2022 at 2:50 am
It is not always a good strategy to select low bids for services. Sometimes the quality of the product suffers. But if you see writing services like online assignment writing help UK will not compromise on quality.
July 19th, 2022 at 5:38 am
It is very nice to read the blog, It gives you broad knowledge of the topic.Custom taxi app development company in USA is the top rated service provider.They can develop the most efficient apps.
September 7th, 2022 at 1:59 pm
I need to find a good Irish bar and grill in Folsom.
October 3rd, 2022 at 8:50 am
Top Followers app makes getting Instagram followers and likes easy and fast. Download Top Followers APK/App with unlimited coins to Insfollow unlimited Followers
October 5th, 2022 at 2:47 am
Mini Militia Mega MOD Apk is a multiplayer first-person shooting game which is also known as Tiny Combat. This is a real mod apk of mini militia . which gives you heavy weapons with unlimited bullets.
October 25th, 2022 at 9:49 am
Stunning sunblock and sunblock cream are offered by Rios, a great new multi brand store. The shop wants to bring their customers satisfaction with the best sunblock in Pakistan. Their best sunblock is perfect for your needs With their sunblock and related products, Rios is sure to meet all of your demands.
October 28th, 2022 at 6:52 am
Shop flormar lipsticks shades for girls & ladies online in Pakistan from Flormar.pk. Online branded Lipsticks shades and colors in Pakistan at reasonable prices with fast delivery.
October 29th, 2022 at 11:24 am
This is very great news for everyone because it is very nice thing
October 30th, 2022 at 12:58 am
I work as an investment advisor full-time. I don’t mind people inquiring about fees, but if they do so before asking about anything else or if they act in a certain way, I know they the page here won’t be good long-term customers and I’ll let them know that.
December 28th, 2022 at 4:47 am
This is a small part of my response to your excellent post. Not everyone can use interesting and distinctive elements in their document. I am very happy to play Five Nights at Freddy’s Security Breach free with you, because I am very interested in them.
February 4th, 2023 at 3:21 am
Excellent and decent post. It is brilliant blog. I like the way you express information to us. Thanks for such post and please keep it up.
Montbell jacket oliver tree
February 18th, 2023 at 1:54 am
It is not always a good strategy to select low bids for services. Best wireless headphones under 2000
Best wireless headphones under 3000
Best power bank under 1000
Theinkpen
May 18th, 2023 at 6:46 am
This is the best blog i ever read. People need to understand the problem that people do not read books or blogs which is not good . Blogs help a lot learn new things.calgary security services is the finest security service provider in Caldary . I came to know through blogs.
May 23rd, 2023 at 2:38 am
I really enjoyed your article about it. I found it to be very informative and well-written. I especially liked the section about it. I think it was a very important point to make, and I’m glad that you brought it up.
For businesses and organisations wishing to increase their online presence, our Edmonton SEO services offers tested SEO outcomes.
June 7th, 2023 at 5:43 am
Greetings, everyone! I’m Thomas, an experienced online education advocate. With my collaboration with “take my online class cheap,” I offer comprehensive assistance to students seeking to enhance their learning experience.
August 30th, 2023 at 3:38 am
Explore our delightful collection of pink gifts, perfect for welcoming a baby girl into the world. From pretty dresses and soft blankets to charming toys, our pink-themed selection offers a variety of choices to celebrate the new addition to the family.
September 28th, 2023 at 3:42 am
Unlock a world of endless possibilities as you conquer each level! geometry dash
October 5th, 2023 at 1:03 am
A baby shower gift basket is a delightful present that combines a variety of baby essentials and treats in one beautifully presented package. These baskets often include baby clothing, diapers, baby lotion, toys, and other baby care items. They make for a thoughtful and convenient gift for expectant parents.
December 4th, 2023 at 5:39 am
Unlock the full potential of your online presence with BSNS Consulting’s services of Digital Marketing Pakistan. Our result-driven approach utilises the latest digital marketing strategies to elevate your brand’s visibility, engage your target audience, and drive meaningful conversions. Stay ahead of the competition and achieve your business goals with our expert digital marketing solutions.
December 22nd, 2023 at 2:35 am
Think about handling your vendors equally; stop giving them the runaround! Let us discuss openly how to improve our partnerships. Are You Interested in ChatGPT in Pakistan? Come talk with us, offer your ideas, and together, we can create a community where technology and rights are most important. I have heard is chatgpt banned in pakistan is this this right information?
December 27th, 2023 at 12:04 am
Friseur Rezeption is a hair salon reception desk. This is the area where clients are welcomed, appointments are managed, and salon services are scheduled. It’s an important part of any hair salon’s front office.
January 30th, 2024 at 2:21 am
The cooking experience is enhanced by Himalayan Pink Salt, whether it is used for finishing or seasoning. Discover how to smoothly integrate it into your everyday culinary practice.
February 16th, 2024 at 9:36 am
Understand the concept of burstiness in demand during the Ramadan season, and strategize your grocery hamper shopping to ensure you secure the best offerings.
Personalized Ramadan grocery hampers have become a growing trend. Learn how to add a personal touch to your gifts, making them more meaningful for your loved ones.
March 29th, 2024 at 12:39 pm
I really enjoyed your article about it. I found it to be very informative and well-written. I especially liked the section about it. I think it was a very important point to make, and I’m glad that you brought it up.
For businesses and organisations wishing to increase their online presence, our Local SEO Consultant in Edmonton offers tested SEO outcomes.
August 1st, 2024 at 7:02 am
Biopharmainfo is an online platform dedicated to providing comprehensive information and resources related to pharmaceuticals, biotechnology, and healthcare. It serves as a hub for professionals and enthusiasts in these fields, offering articles, news updates, educational content, and insights into the latest developments and trends.
August 13th, 2024 at 4:52 am
AZ Clinic TX specializes in various health services and wellness treatments. Based on the details provided on their website, here’s a general overview of what they might offer. Primary Care: Comprehensive health services for routine check-ups, management of chronic conditions, and overall health monitoring. Urgent Care: Immediate care for non-life-threatening conditions that require prompt attention. Preventive Care: Services aimed at preventing diseases and maintaining health through regular screenings, vaccinations, and lifestyle advice. Specialized Services: They might offer specialized treatments depending on the clinic’s focus, which could include services like weight management, hormone therapy, or pain management. Telemedicine: Online consultations for convenience and accessibility.
August 15th, 2024 at 7:49 am
Hey It’s me Kabeer Siddiqui and I am a digital Marketer in Pakistan. Recently I joined Mobile Market as digital marketer. I love learning new things.
September 9th, 2024 at 12:26 pm
Car Rental Dubai provides an excellent solution for travelers seeking convenience and flexibility while exploring the city.
September 30th, 2024 at 12:23 pm
Onetapdrive is a cutting-edge cloud storage solution that enhances file sharing and data security for businesses and individuals. With its user-friendly interface, it supports seamless collaboration tools, enabling remote access and efficient file synchronization across multiple devices. Users benefit from robust backup solutions and comprehensive document management features, including version control and privacy protection. Its mobile access allows for instant retrieval of files, while encryption ensures secure login and user permissions. Onetapdrive also offers workflow automation, real-time editing, and audit trails, making it ideal for team collaboration. With cross-platform compatibility and offline access, it simplifies storage management and enhances data compliance.
September 30th, 2024 at 12:25 pm
Onetapdrive is a cutting-edge cloud storage solution that enhances file sharing and data security for businesses and individuals. With its user-friendly interface, it supports seamless collaboration tools, enabling remote access and efficient file synchronization across multiple devices. Users benefit from robust backup solutions and comprehensive document management features, including version control and privacy protection. Its mobile access allows for instant retrieval of files, while encryption ensures secure login and user permissions. Onetapdrive also offers workflow automation, real-time editing, and audit trails, making it ideal for team collaboration. With cross-platform compatibility and offline access, it simplifies storage management and enhances data compliance.
October 18th, 2024 at 7:00 am
Looking for reliable and affordable Car Rental Dubai and Abu Dhabi? Drift Car Rental offers a wide range of vehicles, including luxury cars, SUVs, and economy models from top brands like Mercedes, GMC, Nissan, and Kia. Drift Car Rental provides flexibility for every budget. Enjoy promotions, discounts, and exceptional customer service with 24/7 support. Whether you’re a resident or visitor, experience safe and comfortable driving with meticulously maintained vehicles. Contact us today to rent a car that suits your needs and preferences!
October 31st, 2024 at 10:42 am
Koder360 is a dynamic tech company specializing in innovative software solutions tailored to modern business needs. With expertise in web and mobile app development, custom software, and digital transformation, Koder360 empowers businesses to stay competitive in a fast-evolving digital landscape. The team’s agile approach, combined with cutting-edge technology, ensures high-quality, scalable solutions that drive growth and efficiency for clients across various industries.
November 4th, 2024 at 5:47 am
One Tap DriveDubai is a top-notch car rental service offering a wide range of vehicles to suit every need and preference. Whether you’re seeking luxury cars for a special occasion or practical vehicles for daily use, One Tap Drive ensures a seamless rental experience with its user-friendly platform. The service guarantees well-maintained, clean cars and provides flexible rental options, including hourly, daily, or long-term rentals. With One Tap Drive, you can explore Dubai in comfort and style, enjoying reliable and efficient service every time.
December 18th, 2024 at 4:59 pm
Bank account for SMEs in the UAE require banking solutions that cater specifically to their needs. SME bank accounts from institutions like FAB and RAKBANK provide benefits such as affordable transaction fees, credit facilities, and dedicated relationship managers. These accounts are designed to support the growth and operations of small businesses in a competitive market.