Vetting Vendors: The New Shiny Thing Or Vendor is Tempting, But Can Be Costly

Are you entrusting your business to the right vendors? In this episode of Rooted in Revenue, Susan Finch and Lany Sullivan dive deep into the crucial topic of vetting vendors. From graphic designers to accountants, they share eye-opening insights on what to look for and what to avoid. Discover the importance of securing your intellectual property, protecting your sensitive information, and ensuring your vendors have your back in any situation. Susan and Lany also reveal the shocking truth about the security risks posed by many accounting firms. Don't miss their expert advice on how to find reliable vendors who align with your values and prioritize your business's success. Tune in to learn how to safeguard your company and make informed decisions when choosing the people and tools you rely on. Your business deserves the best - start vetting your vendors like a pro today!

Need help vetting a potential vendor - contact Susan

Top Tips from this episode:

• Don't respond to cold call emails or messages from vendors you don't know. Instead, ask for referrals from trusted peers and networks. (Susan)
• When considering a vendor, research how long they've been in business, read reviews (especially on Reddit and Quora), and ask for testimonials from their clients. (Lany)
• Request all file formats and a complete brand package from your graphic designer, including vector files, fonts, and color codes. (Susan)
• Ensure that you have the rights to use the fonts in your logo and that you own all the designs created for your business. (Susan)
• Have a contract in place stating that any work created by contractors for your business is your intellectual property. (Lany)
• Ask your accountant or CPA about their security measures, including secure portals, communication methods, and record retention policies. (Lany)
• Choose vendors who have a backup plan and can recommend trusted professionals to take over their tasks if something happens to them. (Susan)
• Align yourself with vendors who have strong relationships with strategic partners and genuinely care about your business's success. (Susan)