When you’re just starting your business, you may try to handle all the operational and administrative aspects on your own to save money. Eventually, though, you’ll need to outsource these tasks if you want to grow—and finding a trusted local vendor can be the ideal solution.
The problem is, there are dozens of businesses in your city offering professional services you need—including things like accounting, legal, marketing, etc.—if not more. So how do you know which one is the right one for your company?
As you’re researching and evaluating potential vendors, keep in mind these five recommendations from the members of Forbes Business Council.
1. Talk To People Who Understand You And Your Business
It can be frustrating when seeking out professional services like accounting, legal counsel or admin services. Trying a new vendor just to find out they cannot provide what you need can be disappointing. Try starting with referrals from people you know and trust to be competent, and who understand you and your business. Leverage these strong business relationships by sharing contacts! – Matteo Forgione, P.E., Forgione Engineering, Inc.
2. If Referred Vendors Aren’t Available, Ask For Their Own Recommendations
Finding trusted vendors is the same as recruiting great new hires—networking! Who are the professionals that your trusted network have worked with and recommend? If they aren’t available, ask those professionals for recommendations. The process may take time, but provides the greatest likelihood of finding a good fit. – Jonah Lopin, Crayon
3. Consider The Current Stage Of Your Company
Always start with your network. Identify the people you respect in that particular area of expertise, and ask them what would be a good fit for your company. This is not a one-size-fits-all exercise—a vendor that might be great for one company may not be the right fit for another, so be sure you explain where your company is in its lifecycle and what business need you are trying to fill. – Debbie Millin, Globalization Partners
4. Find Out Who Your Network Won’t Work With
Reaching out to your existing network to find out who they work with and why—and, just as importantly, who they don’t work with and why not—is essential for finding a local vendor that you can trust! – Nicole Polletta, The Art of Change
5. Find The Vendor That Suits Your Business Needs Right Now
Not all vendors are suitable for all stages of your business. At the initial phase, you may need an accounting and legal firm that does not charge you a large retainer. As you grow, you may need more experienced and diversified accounting and legal firms as your partners. I would suggest that you seek out the right partner for each stage of your growth. – Syed Gilani, Safr Technologies Inc