Signs Your Vendor is Floundering

Posted on 17 Apr 2017

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The 2016 unrest in the market at the vendor level has spilled over into 2017.  Many have burned Plan A because they were forced to. This trend is continuing and even though our market is comprised of some very intuitive people we felt it important to tool them with even more solid information on how to spot inevitable vendor failure to avoid some of the recent pitfalls. 

In 2016 many people were humming along and found themselves having the rug pulled out from underneath them. Unfortunate events such as death of an owner, acquisition and major outages and product instability forced them to go shopping again to find products to help them operate their business. Many have quickly found and unfortunately experienced that buzz words, instability, poor customer service and the lack of customer respect were common place.

Here are some of the telltale signs that a vendor is floundering. You should seriously question the longevity of the business, the business model (Are they setting up for a fast acquisition?) and the commitment they have to building a business vs. doing business. By that, I mean are they spreading themselves too thin?

1-      Very poor and inefficient customer service

2-      They focus more on buying business than investing in their company and supporting their own clients

3-      Unstable product sets

4-      They don’t return calls

5-      Have a bad reputation in the industry

6-      No social proofing

7-      Make ridiculous promises

8-      They demonstrate unreasonable expectations

9-      Inexperienced leadership

10-   Contract enforcement strategies

 

With a 30-year head start, Data Age has, and will continue to do our part in helping this market and our clients. 

 

7 Warning Signs of a Dying Business

 5 Signs Your Vendor is a Flake

 

 

Len Summa

Written by Len Summa

Len Summa joined Data Age Business Systems, Inc. in 2012 and currently serves as Chief Executive Officer (CEO). Before becoming Data Age Business Systems’ CEO, Mr. Summa was Chief Operations Officer (COO) for four years. He has 26 years of experience in executive software solution sales and operational management for both early stage and well-established firms. Prior to his Data Age service, Mr. Summa was the General Manager of global sales and operations at Persystent Software, an industry-leading enterprise recovery software. Mr. Summa has also served as the Director of North American SMB sales and operations at Learn.com, the preeminent software firm in the learning management space. Mr. Summa has a vast business and entrepreneurial background and was the co-founder of Lou Ferrigno/Fitness Showrooms, a highly successful retail and wholesale chain located throughout the Northeastern United States.

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