Partnering on projects can be a strategic move, especially when facing tasks beyond your current capabilities. The initial step involves assessing project suitability based on your in-house capacity.
Transparency with clients is crucial. Consider this approach: “While our team doesn’t currently specialize in this specific task, we collaborate regularly with a trusted local company highly skilled in this area. We’ve successfully partnered with them on previous projects and I’m confident in their ability to deliver. I’ll manage the coordination to ensure comprehensive project coverage and a seamless experience for you.”
Assess the project holistically. Envision it as a detailed task list. Determine which aspects can be managed internally and which require external partners or subcontractors. If the majority of tasks necessitate external support, it may signal that the project isn’t the right fit for your business at this time.
While there’s no definitive benchmark, strive to handle a substantial portion, ideally at least 50%, of the project in-house. Prioritize building strong client relationships through consistent, direct engagement.
Evaluate the billable aspects of the partnering arrangement. Will significant non-billable training time be required to acquire skills specific to this project, potentially with limited applicability to future clients? Non-billable time can quickly erode profit margins, particularly on smaller projects.
Consider the project’s overall scale. For instance, a $15,000 project where your team can handle 95% of the work might justify investing in a half-day or full-day of training to cover the remaining tasks.
The inability to handle the majority of the project in-house should serve as a key indicator. Carefully weigh the pros and cons before deciding whether to proceed or decline the opportunity. Proactively cultivate partnering relationships to better prepare for such projects in the future.