Most businesses work with vendors. Some vendor relationships are very positive and productive, while others have tension and even distrust. The relationship between a client and vendor is built upon a contract that should provide value to both parties. One party pays money for a service of value. In a good relationship, both parties should feel that the contract is fair and valued appropriately, a win-win for everyone.
I recently had an unusual experience that had a powerful impact on how I view vendor relationships. We had been in a long-term contract with a vendor for a product that is essential to our core business. Over the years, this contract felt more like a burden than a benefit. We felt that we were paying too much money and getting too little in return. There are very few providers of this service and we essentially felt trapped by this vendor.
The relationship between a client and vendor is built upon a contract that should provide value to both parties. One party pays money for a service of value. In a good relationship, both parties should feel that the contract is fair and valued appropriately, a win-win for everyone.
After years of searching for a replacement provider, we finally signed a contract with a new company. When we informed the vendor that we were leaving and provided them with a timeframe, they penalized us with exorbitant fees for ending the contract. We were shocked and furious, to say the least. For years, we have been telling the vendor of our concerns and when we finally found a different solution, we were penalized.
When we reconnected, he explained that he had used my experience as an opportunity to walk in a client’s shoes. He recognized the sense of tension between his company and their clients. He asked me for more feedback about the client experience and how his company could improve. He explained how his company was going through a transition and how it was affecting their employees.
This experience taught me a valuable lesson about communication and the power of honesty, transparency and an open ear.
I think both parties learned some lessons during this recent exchange; I know I did.
We are living in an age of confrontation, and as a society we often speak before we think. Social media has emboldened us, and I am often surprised by the visceral attacks I see online. My initial reaction was confrontation and attack, but that would have been the wrong approach and truthfully, that approach would have hurt me even more. I’m glad I took a deep breath and gathered my wits about me.
Whether in business or in life, we all want to feel heard. By engaging him in genuine communication, I was able to have my voice heard. This executive took the time to listen to me with an open mind and we were able to move forward in a productive manner.