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Believe it or not, procrastination can serve as an entrepreneur's secret weapon. Although you may have personal experience with missed opportunities due to hesitation, putting off certain decisions can help your business. When it comes to purchasing, waiting until the last minute can be to your benefit.
As quarter-end approaches, many sales reps receive authorization from their management to offer discounts and extend promotions in order to hit their sales quotas. (You may use the same sales tactics yourself.) For this reason, it’s often to your advantage to postpone sales decisions until the vendor’s sales rep truly needs your business.
Before adopting this prosperity-through-procrastination methodology, make sure:
Once you know the vendor’s fiscal year—and you’re certain your business can wait—use that information to your advantage. Try following these steps to secure the best price:
By following these tactics, you can save your business hundreds or thousands of dollars annually without jeopardizing operations.