Make suppliers fight for your business

Pick a bill. It might be your phone bill, your utility bill or your stationery bill.

Now get on Google and start searching for five companies that could replace your supplier.

Give them a call, tell them you are looking to switch suppliers and get them to quote for your business.

Now, let the battle for your business begin.

Most entrepreneurs know from experience that you need to be willing to wheel and deal to get a sale across the line. And yet too many passively accept the prices they get from suppliers of non-core services such as utilities and telecommunications.

However, your goal should always be to drive cost out of your business at every opportunity, so every one of these supply arrangements should be regularly reviewed and put out to a competitive tender (even if it’s only an informal one).

You’ll lower your costs and get a reputation as someone who is always looking for the best deal.

Get it done – today!

This article first appeared on January 20, 2011.