Are you running into issues in your contracting business? Anytime there are extra hands in the pot, there’s a higher likelihood of problems arising. This is certainly the case when it comes to contractors working with vendors. There are all kinds of vendor issues that come up on a regular basis. However, vendors are a necessary part of the process. Here are three top problems and how to deal with them.
Vendor Issues Involving Deadlines
One of the biggest problems involving vendors is having one or more of them missing deadlines. With so many pieces of the contractor puzzle relying on others, if one component is behind schedule it can bring a job to a grinding halt. While you don’t have absolute control over when your vendors fulfill their obligations, there are things you can do to cut the risk.
Getting the job done ahead of schedule is impressive, but setting unrealistic delivery times for vendors often causes more stress than it’s worth. Be practical about the timeline with both yourself and the vendor at the onset, and don’t set deadlines based on ideal circumstances.
Vendor Issues Involving Quality
Low prices are wonderful, but they don’t mean a lot if the quality of a vendor’s product, supply, or equipment offering isn’t up to par. When you’re just starting out it takes some trial and error to find the vendors that deliver the best quality. Asking around about reputation helps, but over time you will establish your favorites. In fact, keeping a detailed list of the vendors you’ve worked with helps you know who to call the next time you need something. Keep track of all of the important details regarding their quality, and you’ll be able to match the right vendor to the situation.
Vendor Issues Involving Communication
It’s very frustrating having a pressing issue with a vendor and not getting any response. Communication is so important in all aspects of life, and that certainly holds true in the contractor/vendor relationship. One of the most vital steps you can take in communication with a vendor is to state your needs upfront. Be very clear that communication must be swift, and make sure that they feel they can deliver on that expectation. In addition, incorporating some sort of communication tool for all those involved in the job keeps everyone up-to-date and promotes efficient communication.
Many vendor issues are avoided by doing some research ahead of time. If you have the opportunity, check vendor reputation before getting involved. It can save you a lot of headaches down the line.
Pull It All Together
Once you have your vendor issues sorted, you’ll want to make the process easier for your clients, too. Contractors that offer financing give customers more opportunities and options for incredible projects. Customer financing for customers in the home improvement industry doesn’t need to be complicated. Partnering with HFS Financial gives you financing options for your customers — without any of the hassles you may usually encounter. Get in touch today to find out how you can partner with us. And be sure to tell your customers that with HFS Financial, “You Dream It, We Finance It.”