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<< Integrity Moments with Rick Boxx

Integrity Moments - April 27, 2017

  • 2017 Apr 27
  • COMMENTS

 

Vendor Relations

When I was a banker I financed several homebuilders and their subcontractors. The subcontractors typically were to be paid within 30 days of when the homebuilder was paid. The reality, however, was closer to 60 to 90 days, if not longer.

One of my most profitable builders, however, was unconventional. He intentionally paid his subcontractors almost immediately upon receiving his customer’s payments.

He had determined that if he paid his subcontractors better than anyone else, they would prefer working for him and, make themselves available at a moment’s notice!

He was right.

Proverbs 3:27 teaches, “Do not withhold good from those to whom it is due, when it is in your power to do it.”

Take care of your vendors and they will usually take care of you.

 

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