Get Three Bids

Every business needs a stout, aggressive purchasing agent. Assign this job to yourself or a fearless employee.  For every business expense over $250, require at least three bids. As you solicit price quotes, make it clear to all vendors that they’re competing against other companies for your business.  You don’t always have to reward the lowest bidder. You can consider other factors such as service, reputation, quality, expertise, and convenience. However, you’ll be shocked by the range of prices when you shop around. And if you practice this policy regularly, you’ll be pleasantly surprised by how much money you save over the course of a year.