“Guess what I just bought?” Wendy said when we connected for our bi-weekly business coaching session.
I expected a pair of Manolo Blahnik shoes. I was wrong.
“I got a CRM!” Wendy proudly showed off her new-found lingo.
“Oh,” I said.
“What’s the matter? You said I needed a place to keep all my customer information!” Uh oh, Wendy’s voice was starting to rise.
“Yes, I did, but remember we were going to talk about what you needed — exactly — before you bought anything? And you were going to look at three different CRMs before you made a commitment?”
“But, Casey, this guy was so nice and so smart and I felt like I was in the right hands. Besides he said he only needed one more sale to make his quota for the year–how could I turn him down?”
My heart sank. Women entrepreneurs can be really vulnerable to good salespeople — men or women. And we’re really good at putting other people’s interests ahead of our own.
“What does the contract say?”
“That the best part–I didn’t have to read it–he told me everything that was in there–and it sounded great! It was only $999 for the whole year!”
I wish she’d bought the shoes.
Business Buying Tips for Women Entrepreneurs
- Before you make a purchase for your business, build a requirements list. What exactly do you need this piece of equipment or software to do for you? (If you need to make an impulse buy, go clothes shopping…please.)
- Check out at least three vendors who are selling what you need. Compare the features of their products. Check their reputations.
- Read the contract…please…understand what it’s saying, even if you need to have someone else (like a lawyer) look it over for you.
These strategies will save you time, money and heartache!
P.S. A BSO is a “bright, shiny object.”
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