Congratulations! You’ve just made the biggest decision of your life! You’re going to leverage a partner to help scale your business. A partner who can focus on execution and tactical processes, while you focus on your core operations and business strategy! That decision alone greatly impacts the strategic direction and scalability of your organization.
But ok, maybe it’s not the biggest decision of your life or even your professional career, but it is a decision that comes with a lot of ramifications if the partnership is not set up correctly from the beginning. It’s also one that holds tremendous potential to accelerate the success of both parties.
With that decision made, now comes the really hard part. Selecting a partner. Selecting the right partner can be scary, daunting and overwhelming. Luckily for you, the Managed Business Services market offers many options.
To help you move from decision making to partnership execution quickly, here are five quick tips to consider when choosing a partner:
Ensure cultural alignment. Untangling a web of cultural differences can often break a relationship. Be sure to ask about the background of the team assigned to your account. Get to know their strengths, personality types, and a bit about their community culture. Host multiple working sessions where both sides can share stories and collaborate in a safe environment and be sure to address any cultural concerns up-front.
Assess technology requirements. Technology is critical to all types of businesses. Take a moment to consider what technology your business needs, what technology you want a partner to provide and what technology you want to share across your combined teams.
If you choose to leverage your partner’s technology, they must have an up-to-date technical environment and roadmap in order for you to get the most out of the work that you are placing with them. The way they leverage automation will drive accuracy and productivity.
Be sure to also question how they harmonize their digital workforce with human capital. The two must be set in the same strategic direction.
Understand their diverse portfolio of services. You may only have the need and means to engage a partner for administrative services now, but as your business grows, you want to ensure your partner can support that growth allowing you to scale quickly.
Consider what other services they offer, and what the process is for an expanded engagement.
Define a competitive pricing structure to meet the demands of your business. Cost savings are often the driving force behind the decision to engage with a managed services partner. It is imperative to consider the terms and conditions of the contract including the full total cost of ownership.
Look for flexibility as the partnership grows and processes are streamlined, but be aware of additional fees or penalties related to a change in scope, engagement size or strategic direction of the engagement.
Define communication channels. While there is power in social media and e-mail, nothing beats face-to-face meetings where possible and phone or video conversations where face-to-face is not possible. You will learn a lot about the partner’s communication style, culture, organizational leadership, discover potential concerns, and get a glimpse into the overall experience of working with them in the future.
Approach these conversations with curiosity and transparency. Listen for the meaning and spirit behind the questions they raise. A potential partner who expresses a true interest in your operations, your strategy, and your business is one you want to get to know more.
In all of this, be sure to take your time, engage with many potential suitors, ask questions, then ask them again, and when you feel you’ve narrowed your choice, document it all and have fun building together!
Small-to-medium sized businesses and Fortune 500 companies alike rely on Liberty Source as their managed business services outsourcing partner. For more information on how to unlock the power of a managed business services partner, contact us today.
As a top-tier onshore managed business services provider, Liberty Source has a social mission to provide sustainable careers to military spouses and veterans. Liberty Source provides organizations with high-quality, cost-effective solutions by utilizing digital innovation along with a cognitive service layer which is essential to enabling accurate and meaningful business decisions. We serve as an extension of our client’s business operations, providing lower-cost, assured accuracy, and scaled deployment through culturally-aligned expertise.