Your business is only as good as the vendors you partner with. But what considerations should small business owners keep in mind when evaluating vendors as potential business partners?

Transparency

If you don’t trust your vendor, you won’t benefit from hiring them. Getting the communication piece of a vendor partnership right is key, and one way you can set yourself on the right path is to be forthcoming with your vendors about your budgets and needs. Clearly define the projects goals and ensure that they’re being upfront about their ability to fulfil your needs. A responsible business owner won’t misrepresent what they can’t get done. They’ll be forthcoming about their weaknesses, highlight their strengths, and ask lots of questions.

Character

Vendors are valuable because they bring a fresh pair of eyes and a valuable set of skills to your business. But in any given niche, there are multiple people who can get the job done. The question to answer, then, is whether or not this is the best company to get the job done. Do a little sleuthing. Does this company have strong reviews online? Do their employees have good things to say about working there, or is Glassdoor an employee trail of tears? Not everything we read online is true, of course, but partnering with a company with a weak reputation can pollute your business’s reputation.

Excellence

Look for vendors who are willing to spend the time to really learn what your business does, whether that means combing through your website’s content or coming on site to see how your restaurant flows. If a vendor is serious about your business, they won’t balk.

Thinking of forming a vendor partnership? Members of Association for Entrepreneurship USA enjoy access to a broad array of products and services at discounted group rates – for example, E6 Agency offers AFEUSA members 20% savings on data management, cyber security, and more, and the national job posting website Eric’s Jobs offers a 10% savings. To learn more about member benefits, visit afeusa.org/join-afe/membership-benefits.