The debate about choosing a proven company over a foothold-hungry startup is a tug-of-war as old as capitalism itself. Though there are good arguments on both sides, seasoned decision makers tend to agree that companies with successful track records provide the smoothest path forward. Here’s a few reasons why history is on your side.
Industry-defining quality protocols.
It should go without saying: decades of success don’t happen overnight! Common traits among established companies are well-developed quality control (QC) and quality assurance (QA) protocols. Over time, these protocols are recalibrated and finessed to ensure the product or service in question meets customer expectations like clockwork. In a ‘measure twice, cut once industry,’ siding with an unproven company invites the unnecessary risk of missing expectations and timelines. In the end, choosing a vendor that has continually raised industry standards is the business savvy decision.
Supply chains get better with age.
It takes time to perfect a supply chain! Every young company goes through the growing pains of smoothing out its supply chain – and its initial build-out is never the one it ends up with decades, years or even months down the line. Given the hindsight of recent unforeseen events, the importance of supply chain dependability has been put on full display, and a proven company is better equipped to sidestep delays.
Transparent executives and agreements.
Reputations are hard-earned! Behind every proven track record is a group of executives who have cut their teeth in the industry. Doing business with a team of experienced executives is an opportunity to leverage incredible insights and invaluable assistance. This level of know-how comes through in their well-written agreements that address all potential problems that could arise in the business relationship. Though the nuanced language of such an agreement might not seem that important at the outset of the relationship, the truth is it has the potential to matter a great deal after products and money are exchanged. The last thing you want is for a poorly written agreement to create an opportunity for one party to take advantage of the other.