When you need to select a new vendor, you want to feel confident in your final selection. For every service you require, there will likely be many providers to choose from. So how do you select the best vendor for your needs? Start by checking their references to get an idea of how well a vendor meets deadlines, responds to queries, and provides support.
But how can you be sure that the reference you are getting is accurate and useful? Some references will avoid saying anything negative about a vendor to avoid liability; giving a bad reference may constitute slander or libel, which can result in legal action. In addition, some references may have been coached in terms of what information they can and should share with a new business.
How to Perform a Reliable Reference Check
Seek out companies that have used the vendor’s services, but are not listed as references by the vendor. Here are a few tips on finding such companies:
- Look at the vendor’s press releases for information about business partnerships and relationships.
- Perform a simple search engine search.
- Browse a vendor’s LinkedIn profile.
- Attend industry trade events to find companies that work with the vendor you’re considering (this is especially useful if a business is large or well-known).
- Look for references from businesses that are similar to yours in terms of type, size, and/or location.
Whenever possible, speak to the person who actually deals with the company you’re inquiring about. They should be able to give you more in-depth information about what it’s like to do business with this vendor.
Once you have gathered several unbiased sources, prepare a few key questions to ask. Delve for details by asking specific questions about what the company has done to fill their needs. Ask them to rate the vendor’s business services on factors such as timeliness, expertise, reliability, customer support, communication, and availability. When comparing more than one vendor, remember to record your findings for later review.
Performing a thorough reference check may seem like an annoying task, but finding a first-rate vendor who will provide reliable service to your company is well worth the endeavor.
The federal government offers $400 billion in contracts annually to small business owners and vendors that can meet a specific need. Many small businesses can grow rapidly if they are able to obtain these federal contracts. In fact, many small businesses establish themselves with the goal of providing services uniquely to the federal government. However, getting federal contracts often requires a good bit of effort and knowledge that can take small business owners time to acquire.
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