VFL Day 10: Overtime

You now know everything I did to double my average sales price.
But the work doesn’t stop. It’s overtime! Creating the perfect team of vendors is a constant process.

The VFL may be over, but that doesn’t mean your work is done.

Once you are past the getting-to-know-you phase and have decided that you want to work together, it’s crucial to establish reasons why you want to stay together.  For me, I sent my vendors constant reminders.

1. Monthly Check‐Ins

Each month, call and visit every vendor in your network. Check in to see how things are going.  Keeping the communication flowing with your network is critical not only to the health of your business, but theirs as well.  Learn the strategies and objectives your vendors are currently working on and then try to merge together to achieve a common goal.

2. Quarterly Mixers

Networking creates a lot of value. Host a function with all of your vendors each quarter. This is an opportunity for vendors to engage with each other and develop their own networks amongst themselves. If a vendor is new to the mixer, make sure everyone knows who they are and what they are about. The results became a snowball-­‐effect of businesses giving each other business.

3. VIP Parties

With all of my vendors, I tracked who gave me the most referrals and who didn’t.  The top 20 referring vendors were showered with gratitude and invited to my annual VIP party at my house.  People who do an awesome job like to be acknowledged and I wasn’t shy about who I considered the invaluable people in my network.  Treat your vendors well and they’ll do the same.