5 Traits to Look for When Choosing a Business Partner

The days when your company was forced to accept expensive consultants who delayed your project by a few months are over. We interviewed key global executives to find out what methods they use to find partners.

You might be thinking, "The executive who found a good partner has probably read hundreds of RFPs." RFP still plays an important role, but the situation is evolving. The new strategy changes the game of how vendors choose. Companies that adopt these seven tactics find they are able to consistently deliver world-class software on time and on budget.

These are seven key tips for finding, validating, and collaborating with the right technology partners for your business.

1. RFP must be bidirectional

If you don't have a relationship with a developer or technology partner, we recommend starting by creating a request for proposal (RFP) and sending it to several companies for answers.

The appropriate RFP should be sufficiently detailed so that respondents can accurately understand the project requirements.

It turns out that the most successful RFPs have four main components:

Organizational Overview: Without knowing about your company, it's hard for a vendor to write good advice.

Artifacts and project specifications: Extensive specifications can cause unnecessary delays. Make sure the specifications are clear and the results of the work described beforehand.

Project Goal: Understanding the specs is only half the battle. What do you want to achieve in your project? Technology partners may be able to advise on alternative implementation tactics.

Case Study References and Requests: Good vendors are not afraid to talk about past successes. This is an easy way to filter out the winners from the noise.

2. Investigate early

Do you know exactly what you need to build? When selecting the right technology partner or external development team. Innovating on your behalf, or basically “reading your mind” about what you are looking for, should never be their job.

Start by creating a document containing specifications that provides the technical partner with as much clarity as possible about the project. Learn more about all features, workflows, user journeys, and product integrations. This is included in the RFP.

3. Price is usually a measure of poor quality

The best-priced technology partners often spend a lot of time on projects, with too many staff and unnecessary account managers. At the bottom of the market, on the other hand, they often lack the technical skills and capabilities to produce consistent quality.

Choosing a technology partner is a completely different experience than shopping on Amazon. You can't go to a vendor and pick the lowest price for the service you need. This can be a nuanced and complex process.

4. Customer feedback and important reference materials

In almost every example I found, the top partners shared many case studies, customer feedback, and client references.

Of course, your voice helps a lot, but you have to be very careful to look behind the curtain. Simply put, talk to happy customers. Is there something? It is important to contact your future technology partners for
a list of clients you can contact. Ensure that potential partners can confirm
that they have actually completed the product to their specifications and
satisfaction.

5. Consider speed and deadlines

I'm looking for a company that can quickly integrate into my team and get things done. When interviewing the company's past and present clients, ask if the company developed projects quickly and resolved problems, and whether they responded quickly to change requests. Ask what the original
timeline was and whether the company complied with it. If there is a delay, what is the cause? Project speed is not required, but in general you can
demonstrate your ability to read and respond to changes.