Overbuying and Underbuying Buying Behavior 101

The Buying Process 1. Interview 4-6 Providers, Evaluate Company a. Go with Gut, First Impressions b. Local vs. Conglomerate c. Multiple Product Lines d. Prepare Your Questions e. Full Disclosure i. Expectations ii. Needs & Max Budget iii. Require Best Price Now f. Direct Next Step Action

1. Interview 4-6 Providers, Evaluate Company

a. Go with Gut, First Impressions

b. Local vs. Conglomerate

c. Multiple Product Lines

d. Prepare Your Questions

e. Full Disclosure

i.

Expectations

ii. Needs & Max Budget

iii. Require Best Price Now

f. Direct Next Step Action

The Buying Process 2. Invite only 3 for Proposal Meeting a. Consider Ideas and Suggestions Prevents i. Uninformed/Emotional Decision b. Odd man out Indicators, be wary i. Price way too high/low ii. Product Discrepancies iii. Be wary of price drops, ‘specials’ iv. Don’t play the selling game, play the buying game 3. Implement Decision a. Be Prepared, Organize Staff b. Hold ‘em to it’ Acquisition Plan

2. Invite only 3 for Proposal Meeting

a. Consider Ideas and Suggestions Prevents

i. Uninformed/Emotional Decision

b. Odd man out Indicators, be wary

i. Price way too high/low

ii. Product Discrepancies

iii. Be wary of price drops, ‘specials’

iv. Don’t play the selling game, play the buying game

3. Implement Decision

a. Be Prepared, Organize Staff

b. Hold ‘em to it’ Acquisition Plan

Buying Considerations Buying Considerations that drive the over buy or under buy: o Status Quo (we have always done it this way) o Budget drives decisions (band-aid solutions) o Outdated or Incorrect Usage Assumptions o Usability (morale, productivity, value –added services) o Expectations (maintenance, life expectancy, total cost to own) o Omission or Misrepresentation of Needs (proper communication) o Over buying vs. Over Spending Uniformed/Emotional Decisions are usually the WORST decisions!

Buying Considerations that drive the over buy or under buy:

o Status Quo (we have always done it this way)

o Budget drives decisions (band-aid solutions)

o Outdated or Incorrect Usage Assumptions

o Usability (morale, productivity, value –added services)

o Expectations (maintenance, life expectancy, total cost to own)

o Omission or Misrepresentation of Needs (proper communication)

o Over buying vs. Over Spending

Uniformed/Emotional Decisions are usually the WORST decisions!

Thanks! Contact Information: Shelly Searcy, Vice President Power On Technologies, Inc. Kansas City, MO 816-737-2900 www.ThinkPowerOn.com [email_address] http://www.linkedin.com/in/shellysearcy @shellysearcy