Partnering can be a strategic move when facing projects exceeding your in-house capabilities. The initial step involves evaluating the project’s scope and determining the portion manageable internally.
Transparency with Clients Regarding Partnering:
Consider communicating to your client: “While our team doesn’t possess in-house expertise for this specific task, we collaborate regularly with a trusted local company specializing in this area. We’ve successfully partnered with them on previous projects and I highly recommend their involvement. I’ll oversee coordination to ensure seamless integration and comprehensive project coverage.”
Assessing the Project Holistically:
Analyze the project as a whole, breaking it down into a comprehensive list of tasks. Determine which tasks can be handled internally and which require external partners or subcontractors. If a significant portion necessitates outsourcing, it may indicate that the project isn’t the optimal fit.
Ideal Percentage of In-House Project Completion:
While there’s no definitive rule, aiming for a minimum of 50% in-house completion is advisable. Ideally, your team should manage the majority of the project independently. Maintaining regular client interaction fosters a strong and reliable relationship.
Evaluating the Billable Aspect of Partnering:
Assess whether the partnership entails substantial non-billable training hours to acquire skills specific to the client or project. If these newly learned skills are not transferable to future clients, absorbing these costs can rapidly erode profit margins, particularly on smaller projects.
Project Size Considerations:
For larger projects, such as a $15,000 endeavor where your team can handle approximately 95% of the work, investing in minimal training (e.g., half a day) to cover the remaining aspects may be worthwhile.
If your team lacks the core competencies required for the project, carefully evaluate whether to proceed or decline. Proactively cultivate partnering relationships to better prepare for such opportunities in the future.