Sometimes you will run into instances where you have a project that is just too demanding to take on alone.
Whether the project is one requiring skills that you do not yourself possess, or is large enough that you would not be able to deliver timely completion on your own - collaborating with other companies may be a necessary step.
In one sense, entering into partnerships with other companies can feel like you are giving up some of your control over a project. And in a way, that is true.
However, there is great camaraderie that can be formed through partnerships, as well as an opportunity to expertly tackle bigger projects than you may not have previously been able to take on, and other benefits that can be had from making successful business connections.
Forming partnerships can allow you to reach a broader customer base and market, which can be important for securing additional work in the future.
Navigating the new or even familiar waters of forming professional relationships can be intimidating, but also enormously beneficial - and for some bigger projects, necessary.
Below are some key recommendations and advice you can follow as you set out to create partnerships for your bigger projects.
All business partnerships should be strategic in that they are formed for a specific purpose and address the needs and expectations of both or all parties. There is no use wasting your time meeting with other companies that will not be able to offer what you need.
This includes paying attention to the specific areas of expertise you need for the larger project. Map out the areas where you are lacking on the necessary skills required, and search for companies or other contractors that will be able to fill in those gaps with the necessary expertise. For instance, if you are working on a new house-build, you’ll need to bring in plumbers and electricians at some point.
Efficiency in your work is all about strategy, and being strategic about who you partner with for large projects is essential to making sure that there is no quality sacrificed in the final project outcomes.
Keep Open Communication Lines
From the get-go in your initial meetings and correspondences with prospective partners, all parties should be laying their purposes and expectations for the partnership out on the table.
Why are they interesting in entering into a partnership with you? What do they get out of it? What will they be expecting from you?
Furthermore, make sure all other relevant parties are aware of what you expect to derive from the formed partnership as well. The only way to truly maintain an open line of communication is for it to be two-way, and in this case, it will be to your benefit.
The key to successful partnerships is having a shared vision with similar motivations and good synergy. Sharing a vision for how you expect the partnership to proceed, as well as your ideas for completing the project, will help you to collaborate in ways that are beneficial for everyone involved.
Make Your Value Known
Part of developing successful partnerships with other companies and contractors involves making it known what specific skill-set you can offer as a contractor. Companies large and small look for experienced contractors that will be able to provide certain services, such as plumbing or electrical work.
But in order to get the attention of those prospective partners, you need to market yourself. Make sure you are highlighting online and offline, in professional correspondences and on your webpages, your areas of expertise and the ways in which you stand out.
There is a time and place to be humble, but securing respectful partnerships with others in an environment where profit and reputation are on the line, is not it.
Get Your Contractor’s License
Obtaining a contractor’s license is a significant way in which you can market yourself as a more credible worker to prospective partners.
Having a license can help ensure you are always on the right side of the law with the services you are providing, and is an additional means of vouching for your knowledge and seriousness about maintaining a strong brand for your contracting work.
For useful resources to help you study and pass your examinations for your license, you can view those that are offered by the Contractor Training Center powered by the Contractor Institute. Make sure your future as a contractor is bright and get your license the easy way.