To all the Multi-Family vendors I have worked with...Thankful for Thanksgiving! by Daisy Nguyen

Thanksgiving is around the corner. I'm going to take a break from my 3-part series on facebook, and be thankful. I'm  thankful for some of the hardest working yet most underappreciated people in our industry - the vendors of the multi-family industry.

I should also point out, that as an industry, WE, ourselves, are vendors. We are vendors to every person who rents an apartment from us. Knowing how bad it feels when a renter takes out their frustrations on us, why do we do that to our vendors? We know that it takes time to learn about someone in order to sell our value proposition (remember all those questions from the guest card?), and how frustrating it is when our prospects say,  "just tell me how much it is," and yet we're always asking this of our vendors all the time. (Remember when you asked your sales person to *JUST* give you a number, without taking the time to explain what you want?) How hard is it to sell on value when you prospect says, "Well, ABC Apartments down the road is giving away 2 months free rent," and we turn right around and tell XYZ contractors their bid is 2 cents too high. Our renters don't buy IT, as we aren't buying IT ourselves. Kinda sucks when the shoe is on the other foot, huh?

Don't get me wrong - smart business is still smart business. We definitely need to know where the market is and demand competitive pricing from our vendors. Whether the service is software, advertising, carpeting, screening, information, bulk purchasing, etc., beyond asking that vendors be competitively priced for the market, the secret to my success has been carefully choosing the right business partner for my needs. THIS is the exact intersection point where smart business becomes GOOD business. The "smart" business person in me would have squeezed that extra 2-3% savings out of a vendor. The "good" business person in me realizes a 2-3% savings will be repaid back ten-fold through a healthy business partnering relationship. The right business relationship can mean the extra competitive edge it takes to succeed in today's economy.

Back to being thankful...

November 23rd, 2009

Dear Business Partner, (you know who you are!)

Thank you for all the things you have done to make me successful including:

• giving me competitive pricing so that I can in turn be competitive
• service with a smile (even when I have been less than helpful!)
• answering my calls - even after hours
• providing me with several options to choose from
• pointing me to the best options for my situation
• getting me the bid asap (i.e. yesterday)
• bidding it 4 different ways with 2 different options = 8x's more work for you, just so I can make a decision
• wanting me to succeed
• servicing my needs so that I can spend more time servicing my residents
• providing free information in your field of expertise
• delivering what you promised, and then some!

Thank you for partnering with me on our road to success.

-Daisy Nguyen in Minneapolis, Minnesota MN

P.S. Feel free to pass this onto the vendors that have contributed to YOUR success! 

Daisy Nguyen is owner and CEO of RENT SODA, a business and marketing consulting company. Become a FAN of RENTSODA, connect on LinkedIn, FOLLOW RENT SODA on Twitter, visit her website, RENT SODA, or read the blog, RENT SODA, Don't Get? GET IT! for more information and regular blog entries.