Breaking up is no fun, in your personal life and in business. Still, staying in a professional relationship with a vendor that’s not working anymore will probably mean you lose money.
If you are thinking about taking your business elsewhere, here are a couple of ways to work through your business breakup:
Check that agreement
The first step in any business dispute is to look at your contract agreement. Is your vendor not delivering? Or do you just not need their services anymore? Look at what your agreement says about reasons to end the relationship. How long did you agree to work together? Make sure to find out what your contract says about ending your agreement.
Now is a good time to take your questions to a lawyer. Before you talk to your vendor, you should make sure you know what you are legally able to do.
Is there any mending?
Before you rush into a breakup, think about other options. Sometimes, things are rocky because of a miscommunication or misunderstanding. Maybe you expected one thing, but your vendor is delivering another. Is there a way that you can communicate your frustrations and allow the vendor to try and fix them?
Be prepared for the conversation
Prior to talking with your vendor, get prepared. Write down the specific reasons for the termination of your contract. Know how the terms of your agreement apply. Be ready to explain your reasoning in the most professional manner possible.
You need to outline your reasoning and issues very clearly and follow it up with the next steps. Know if you need to give them time to tie up loose ends. Have a time when you will get all login or access information from them and change it once they are gone. Get information about exactly where each project is so that your next possible vendor can pick up on it.
Write it all down
Get that written confirmation. After you talk with your vendor, send a recap email with the specific agreement for moving forward. It’s also good to get the vendor to sign an agreement for wrapping up the relationship.
While you want to give everyone the chance to do their best work, don’t let your business suffer because of a vendor relationship that’s not working. If you have concerns about a clean break, talk with an attorney and get to know your rights in the agreement.