Many organizations rely heavily on the expertise of external business partners. They come in the form of consultants, vendors, suppliers and, yes, even the government. In fact, surveys have shown many businesses in the local area have multiple external partnerships operating simultaneously due to the expertise a third party can offer.
A Commitment Is Needed To Make Third Party Relationships Work
Successful business leaders know that managing external partnerships requires a commitment at all levels of the organization. This involves careful planning, open communication, follow up and follow through to ensure a profitable outcome for everyone.
Outside Partnerships Can Quickly Help Your Business Grow
When working with a third party, operational growth is best achieved once there is a written and defined scope of work, a set number of mutually agreed upon deliverables, written goals with specific due dates and a discussion with key decision makers about mutual expectations.
We have listed below a number of items you should address when hiring a third party.
The 8 Tips To Consider Before Hiring A Third Party Are:
1. Get A Signed Agreement - Make sure to have the parameters of the relationship, specifying the agreed-upon work and the timeframe in which the work needs to be completed.
2. Check Their Background - Skills and abilities vary greatly; checking references will help you find out who is tops in their business.
3. Establish Who Pays For Expenses - Discuss in advance, who pays for what so there are no surprises when you get an invoice.
4. Find Out Their Availability - Make sure the consultant can start and finish your project.
5. Conduct A Thorough Interview - Talk with the third party about their processes, methodology and the people who will be working on the project.
6. Have Everyone Sign A Letter Of Confidentiality - Third parties are free agents and can work anywhere. Keep in mind that they may work for your competition sometime after they have completed your project.
7. Describe The Project And Your Expectations In Detail - One of the biggest concerns CEOs have is the delivery of results. Too often, not everyone is on the same page right from the start.
8. Introduce The Third Party To Your Staff - Your employees need to know what you are doing. If not, they will be reluctant to share and take part in your vision.
Summary: Most organizations hire a third party to maximize their own effectiveness. Value added partnerships include understanding the goal of positive growth over time, defining the team's purpose, and negotiating clear expectations.
for more information, visit our website, or email us at bob_dickson@dalecarnegie.com
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