8 Keys to a Successful Outsourcing Relationship
Updated: Oct 19, 2020
Outsourcing has not only increased in popularity, it has become widely embraced as a best practice for small and mid-sized companies. Savvy business owners understand that outsourcing provides subject matter expertise at a fraction of the cost of a full-time resource. Successful outsourcing relationships, like any relationship, take some effort. Here are 8 keys to establishing a successful relationship with your outsourcing partner:
- Chemistry matters – Hire someone you like and respect. This is an important relationship and you want to establish a partnership that clicks.
- Set clear expectations– Start off the relationship with clear expectations. Make sure the person or firm you’ve hired clearly understands what you expect of them and ask what they need from you to be successful.
- Don’t hire a “yes” person – Don’t hire someone just to validate what you already believe to be true. Bring in a resource that contributes a different perspective and experience, someone who will challenge you to consider other options and approaches.
- Check references – Do your homework and get references before you engage an outsource partner. Make sure you’re really getting the skillset you need. Speak to others about their experience with the company or individual you’re interested in hiring. Find out why the relationship worked and what they would do differently. Approach the outsourcing selection process the same way you would when hiring an employee.
- Get buy-in from your team – Include the appropriate individuals in the decision making process. If the success of the engagement includes an important member of your team, make sure you’re on the same page about the outsourcing solution you choose and the desired outcome.
- Be coachable – Don’t waste your time and money hiring an expert and then refuse to implement any of their suggestions.
- Be transparent – If there are challenges within the organization that aren’t common knowledge, make sure you communicate these in advance. You don’t want to surprise your new partner and get off to a bad start.
- Be available – Dedicate the amount of time needed for the relationship to be successful and communicate regularly. Make yourself accessible.
At Milestone, we provide Outsourced Accounting and HR solutions for entrepreneurs. We believe in true business partnerships and approach every client interaction with this goal in mind: to make your life easier, provide you access to information to make smarter decisions, and to help you build a more successful company.
Our team is your team, and our model is simple: You get experienced C-Level leadership at a fraction of the cost of a full-time resource. We promise no long term contracts, no hassles, and the flexibility to scale up or down as your business needs change.
Contact us if we can help your business. Phone: 317-810-0165 / Email: [email protected]
Small businesses often outsource some or all of their accounting function to gain access to expertise at a fractional cost. ...
The fractional economy is here. Small businesses are realizing the benefits of time and money to outsource the areas they ...
Good news. Setting up a small business accounting system is easier than ever. Accounting software are essential for businesses to ...
Stay in the know