3 reasons why NOW is the right time to bring in a Strategic Partner

BY LORI SMITH

Do you ever feel like every time you take two steps forward you find yourself soon after taking three steps back?  I was recently working with a client and conducting interviews with key management.  As I listened to the issues facing the company, it quickly became clear that their processes were too cumbersome, their meetings were no longer effective, and the wheels were beginning to fall off of the car.  They were trying to move forward but kept on being pulled back because of the various issues that the team was facing.  Why?  Because they were in a new growth phase as a company.

As businesses evolve through different phases – start up, growth, maturity and revitalization, their operating practices and organizational structure need to evolve too.  But what often happens, is that they get stuck.  They find that “what worked before…isn’t working anymore” and the team begins to have challenges.  Even worse, sometimes the team begins “finger pointing” and blaming each other for their issues.

What do you do?  You try to fix what’s broken on your own.  You may hold more meetings to discuss the issues, bring in an HR partner to review your organizational structure or look for opportunities to fix a broken process.  The same ideas come up again and again to fix the issues and you aren’t making any progress.  In fact, you may be exacerbating the issue by wasting more time and money through these unimpactful efforts.

Ultimately you begin thinking about bringing in a consultant to act as a strategic partner and help you and your business work through these challenges and move into the next business phase… the right way.  You’re hesitant about getting help because it hasn’t always been successful for you in the past.  You’ve been burned by these partnerships due to cost, time or buy in from the team.  And sometimes, we find that we may cross paths with leadership that considers the use of a consultant to mean that we don’t have ability to do our jobs ourselves.  But you and I know that isn’t always the case.

So, when is the right time for YOU to ask for help?

Here are 3 indicators that it’s time to bring in a strategic partner.

  1. You don’t have enough time to solve the problems you are facing –

    We’ve all heard the expression that “there is more value in focusing on a few things and doing them the right way than in doing many things part way”. But management still wants you to do “many things”.  Unfortunately, there are only so many hours in the day.  The efficiencies and strategic thinking that can come from the use of a consultant will allow you to prioritize your workload and focus on those things that are most impactful to the business.  START doing things that will bring your company to the next level, STOP doing the things that are taking too much time with little ROI and CONTINUE doing the core functions that have brought your business forward.

  2. Things are complicated and you don’t know where to begin –

    We aren’t experts at everything. There are resources all around us that have the ability to add value to our businesses.  Bringing in an expert can help identify new ways to tackle challenges and can uncover opportunities that you may have not been able to identify on your own.  As businesses grow, it is very easy to get caught in routines.  Just because “you always did it this way” doesn’t mean it is the most efficient way.  A consultant can conduct a proper assessment of your current state to help you build the roadmap toward needed change.

  3. Everyone has a different perspective and you are starting to experience infighting –

    Having an outside perspective allows for a new viewpoint or “fresh set of eyes” on a situation. It also has the ability to send a message of concern or importance to the direct team and can open up a new world of influence with senior management.  Think about the last meeting you held with your team.  Did you spend more time facilitating than listening?  Engaging with a strategic partner will allow you to find solutions with your team and allow them to be heard.

Tips to make the partnership work…. from the start

So, you’ve made the decision that entering into a strategic partnership with a consultant is the right next step for you. Here are a few tips to help you find the right partner and make the most of your investment.

  • Cultural fit –

    Having the comfort that the consultant you engage with is empathetic to your needs, culture and the politics of your company is critical. The right partner will HEAR you, UNDERSTAND your needs and DEVELOP a tailored plan that gets you from where you are to where you want to be.

  • Results –

    You need a consultant that is going to drive results….and those results need to be realistic and not based on “pie in the sky” assumptions. That said, if a consulting engagement does not provide you with a solid return on investment (10x or more!), it is not the right partnership for you.

  • Communication –

    It is so important to properly communicate the purpose and objective of bringing in a strategic partner to your team. Without clear direction and communication, a third party may be construed as a negative instead of a positive.  Communication before, during and after working with a strategic partner is critical to the success of the engagement.

  • Keep an open mind –

    It isn’t always easy to hear a new or different perspective. And sometimes a partner may uncover something that is hard to accept.  Having the ability to take constructive feedback and turn it into a positive is what separates leaders from being good versus great.

The Bottom Line

Partnerships with third parties have the ability to drive unforeseen change, strategic thinking, operational efficiencies and most important, profitability to the organization.

Is your business struggling with the impact of growth and evolution?  Are you overwhelmed by initiative overload?  Are departments building up silos and lacking communication?  You don’t know where to begin and don’t have the time to even think about how to tackle issues?

Stop wasting time and money and let me help you maximize your greatest assets to get the biggest results.  Helping growth-oriented executives be their best is what makes me be my best.  Contact me so we can set up a strategy call or take a read through my consulting services.