Darryl Rentz

As Business Owners we know not everyone will become a client and we expect some prospects to not be a good fit. We also know the frustration of someone who is a fit and still won’t buy from us. It’s easy to see the mistakes others make when not buying from us, but what mistakes are made when we are the ones doing the buying?
This list aims to help us remove the fear when we are looking to buy something. This covers the mistakes we make, excuses we give and how to make better buying decisions. Before we start I want to point out that we all make mistakes and I personally have made every single one listed below, but this list is not meant to insult or blame anybody. This is an honest effort to help business owners make better buying decisions.
1) Tire Kicking – This habit is nasty because Tire Kicking is a frequent time-waster. We become curious about something new and think about how it will benefit us and so we contact a vendor for more information. And after we get that information we do…nothing. We tend to always be on the lookout for that next opportunity, which is a great thing but we seldom make any action which at the end of the day just consumes time. As a Tire Kicker when that next idea pops in our head, stop and question, “What are the chances that I honestly go through with this idea?”
2) Gun Jumping – A variant on Tire Kicking. As a Gun Jumper we have the intention of starting…just not now. We ask for information from a vendor but then never look at it and often say, “The timing isn’t right” Gun Jumping comes from trying to start something new before a current project is completed. Before starting new opportunities make sure we have available time, energy and money to devote to a new project before contacting the vendor.
3) Paralyses by Analysis – This is when we analyze the crap out of every detail in a simple purchase. We ask plenty of “What if” questions. Simple math here folks. If our time is worth $20/hour and we take three hours to decide to buy a $30 item, we lose. Take the marine approach. Quickly identify the best possible solution and TAKE ACTION! If the action is good, congrats. If the action fails, learn from the mistake and try something else.
4) Spending $1,000 to save $100 – A variant of Paralysis by Analysis. This is when the whole team gets involved in making a decision when one decision maker is enough. We want to make the best decision and in the end we may have found out how to save the company $100, but the process cost the company $1,000. Again, simple math and the Marine approach. One empowered person can make the best decision quickly and TAKE ACTION! If the action fails, learn from it and take another. Get the team together only for the most important company decisions like what to get for lunch.
5) Information Hoarding -Yet another Paralysis by Analysis variant. We ask vendors to “send literature, sales sheets and case studies” We want all the facts to make the best logical decision possible, but what usually results is a bulging folder of facts and figures but still no decision. Gathering information can be addicting so limit what you gather to the top three benefits of each vendor. Place your bets on the company who takes one conversation to gather info, one conversation to test and buys on the third.
6) Total Indecision – Our last Paralysis by Analysis variant and the most extreme. We “need to think about this” But honestly this usually means “I have no idea what to choose” and a decision can be as good as gone. There is a reason why we all have a gut reaction, use it. If the vendor seems like a logical fit but still can’t make up our mind, tell the mind to shut up and listen to our gut.
7) Test driving the Ferrari before buying the Volvo – This is the act of testing a vendor’s premium service and then buying the basic service. My favorite example comes from the bar: someone tries a sample of a craft beer on tap and then buys a Miller Light. Test driving the Ferrari builds false expectations which will only disappoint if not bought. Demo the service that will most likely be purchased.
8 ) Not Crossing the Finish Line – We’ve done our homework, identified the best solution and worked the math on budgeting and tell the vendor we are ready to buy! But we still don’t cross the finish line because fear and worry get the best of us. Basic risk management here folks, playing it safe sucks. Take a chance if the reward outweighs the risk.
9) Stopping at Speed Bumps – A variant of Not Crossing the Finish Line. This is when something unimportant is brought up and we put the brakes on the whole thing. “This money saving widget doesn’t come in red!?” “You’d didn’t tell me I’d have to give out my email address” An unrecognized fear is the root, and it manifests itself in questioning unimportant details. Again, playing it safe sucks. If the purchase will help you do xyz, who the f cares about what color it comes in?
10) Not Working WITH the Vendor – This is when we don’t give the entire picture or give important information to our vendors because we do not want to be taken advantage of, and what results is a relationship without trust. Always act with respect and give vendors the info they need for success. As long as the vendor is professional they will return the favor and act in our best interest.
11) Cost Decision – The grand daddy of them all. Looking at the price tag and nothing else. The sales person asks us “Is there anything I can help you with?” and we reply, “How Much?” Symptoms include only looking at the vendor’s pricing page and hearing “la la la la la” until they mention the price. Buying products, and better yet not buying products, based solely on price is the ultimate way of ensuring that our business will stagnate. When we purchase a solution, we invest in our company’s success. When we purchase the cheapest option, we pay an expense. Determine a realistic budget before contacting your vendors. We all know the answer when asked if we would rather have ten mediocre clients each paying $100 or one awesome client paying $1,000. What’s our answer when asked if we’d rather pay ten mediocre vendors $100 or one awesome vendor at $1,000?

My hope is that this article is read with an open mind and brings new ideas to light. I want you to make better buying decisions to help you establish stronger vendor relations and grow your business! When your vendor is excited to take your call, they will fight for you. When your vendor cringes when you ping, you will get cheap service. Again, we all make buying mistakes but part of the game is learning from it and giving it your best.
Your feedback is appreciated and helps me do my part better! Please write back to me and let me know what you agree with or disagree with, or even if you just want to tell me to shut it.
Best wishes in doing better business!