If you are a solo consultant or run a small consultancy, you can face a situation where you either lack the manpower or the expertise to serve prospective clients. In that case partnering could be a feasible solution. There are three basic ways to invigorate your business through partnering: operational, tactical, and strategic.
Operational partnership
If you just need "more hands," an operational partnership is the way to go. Connect with peers or junior consultants who can work side by side with you. For example if you need to interview 100 people or do some other resource-intensive work you could use a trusted companion.
A good operational partner respects your business relationships with your clients. However, I recommend that you have a mutual written agreement with your partner. In the agreement, define the distribution of work, the responsibilities, and the duties of both parties.
Operational partnerships can offer cost savings and increase your capacity.
Tactical partnership
When you see that you could offer more by having a good partner, then you are building a tactical partnership. For example a marketing consultant could partner a sales expert or an R&D consultant.
Sometimes a client needs services in locations where you cannot operate easily. Form a partnership with a local consultant to serve your client optimally.
Tactical partnerships expand your reach and they open new opportunities when partners market each other's services.
Strategic partnership
If you and your partnering company together can offer something unique that is vitally important for both parties, you are in a strategic partnership.
I know examples where a large and a small organization have created a successful partnership. The smaller consultancy is the innovator whereas the larger has an extensive clientele that needs the innovative solutions that the companies create together.
Strategic partners share a vision, they have the same kinds of values, and they want to work towards common goals. They exchange and accumulate knowledge openly with each other and develop their abilities together.
Strategic partnerships can lead to a unique position in the minds of the clients. If implemented correctly, they can also lead to growth that both partners would not be able to create on their own. Strategic partnerships are, however, very demanding and are seldom realized as planned.
Success factors
Whatever your partnership model is, it must be based on mutual trust, open communication, and a real win-win opportunity. Written agreements are necessary, but it is more important to understand why you are partnering and how much effort both parties are prepared to take in order to make partnering successful. Finally, it is the client who decides if your model creates a triple-win situation.
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