Most businesses are paying more than they need to for basic business bills because companies and suppliers know that most business owners get too busy with day-to-day operations to pay attention. As a result, they often just cut a check and miss the fact that the bill prices are increasing.
The best example of this is phone and internet. Most companies will offer you an introductory rate as a promotion, but once this promotion is over, the rates go through the roof. The same may be true with your suppliers.
If you are willing to do a couple hours of work, or delegate the work to a trusted employee, you could save a lot of money in the long run.
First, gather all of the statements of the business bills you pay regularly and get ready to do some research. Gather pricing information from both your vendors, service providers, and their competitors. By gathering this information, you are building a foundation on which to negotiate.
The next step is to make the call to your current vendor or service provider. Call your sales representative or the customer service number and then ask for a lower rate. Then, don’t take no for an answer. This is where your pricing research comes in handy. Tell them the data you found and make it clear to them that you WILL switch companies if you have to, and mean it. If the service representative is still not being helpful, ask to speak to a supervisor or someone who has the authority to offer a discounted rate.
If the negotiations don’t work, then be willing to switch to a different company.
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