From the course: Consulting Professional Weekly Tips

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Overcoming new vendor requirements

Overcoming new vendor requirements

From the course: Consulting Professional Weekly Tips

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Overcoming new vendor requirements

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- Big companies have big expectations of little companies like yours. They may want excessive amounts of insurance, complex security and safety procedures, ominous employee screening programs, and other requirements you're not equipped to handle. It's okay to ask for exceptions to these policies. You can get them if you can show how the big requirement isn't applicable to the work that your small firm does. I had one client that wanted us to provide $5 million worth of liability insurance. That was ridiculous given we only do onsite training programs that last about a day. When I pointed out how that requirement was too big relative to the work that we do, they were amenable to reducing that amount to a million dollars of liability insurance. I had another client who said, "We want a rigorous non-compete in place." They listed out all the companies we would no longer be able to serve. A lot of them were existing clients of ours. We pushed back on the requirement and said it didn't…

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