Vendors are Strategic Partners

Wikipedia appears to give a thorough definition of strategic partnership. Part of the definition says it's an alliance between 2 parties to create a specialized new product. The word "product" brings to mind something tangible we can touch. Service can also be considered a product.

Vendors can be considered strategic partners, if they add that extra touch of excellence to their services. This means going above and beyond what may be called for in the "scope of work". Similar to a personal relationship, it's the little things that add value.

In a Inc.com article "Choosing Partners that Really Partner" by Lisa H. Buksbaum, she writes "Once you've done the right analysis, ponder the following questions: What's your gut feeling about the partner you're considering? Is there synergy? Is there a natural fit in terms of values, integrity, and personality? Do your potential partners "get it"? That is, do they have a solid understanding of your objectives and goals, and are they genuinely excited about joining forces for an alliance?"

Successful consulting companies understand each client is a potential referral to several new business opportunities. This minimizes sales and marketing costs. As a vendor, they want their client to consider each entity as a strategic partner.

Becoming a strategic partner is very easy and costs almost nothing. To be valued as a strategic partner, the questions to be answered are :

1. Does the vendor's actions throughout a project show a "vested" interest in a long term relationship?
Vendor staff who use the pronouns "we" "us" and "ours" usually perpetuate more team spirit throughout the organization.

2. Does the vendor go the extra mile in continuously presenting low cost, high impact solutions to business problems?
Vendors putting out their hand to be paid for every little suggestion or solution won't last long as strategic partners.

3. Does the vendor stay connected (phone calls, emails, newsletters etc) long after a project is over?
This is usually an excellent acid test of how much a vendor is really a strategic partner.

4. Does the vendor present themselves as a resource extension to the particular department that engages their services? Even a temporary placement agency that has temp staff in a mailroom, is providing resources that augment that department's effectiveness. The same holds true for consulting companies.

5. Does the vendor leverage or refer their network of vendors, partners or clients to help a current client solve unrelated business problems?
A resource referral provides more trust and value in any relationship. This provides clients with the best bang for their dollar. Referrals save the client time and money. This proves a serious committment for a long term relationship, even if the vendor does not benefit financially.