Vendor leadership is the key to your edge and will help you rise above transactional relationships.
Like most industries, outsourcing to nationwide facilities maintenance groups has become common-practice for multi-site managers looking to streamline operations, cut costs, and access expansive vendor networks. Whatever the service or product, companies are ready to step up and be your everywhere, all-at-once solution. For companies with significant scale, I suggest that your search should not be just about the fix and the price that the contractor provides. It should also be about the leadership and quality of ownership behind that fix. Placing a priority on this aspect can be a game-changer for your business.
Leadership is the compass that guides a company’s culture, values, and overall performance. When evaluating a potential third-party vendor, the standard starting point is services and pricing. Granted, those are important issues, but it’s necessary to understand their leadership team. That’s how you can get the most value out of a committed partnership. Consideration given to these aspects will multiply the benefits of making the right choice.
- Alignment of Vision: When the leadership team shares your values and vision, it ensures a smoother integration of their services into your organization. A shared vision fosters collaboration and a sense of partnership.
- Innovation and Adaptability: Strong leadership encourages innovation and adaptability. Companies led by visionary leaders are more-likely to stay ahead of industry trends and bring fresh ideas to the table, further enhancing their value to everyone.
- Quality and Accountability: Leaders set the tone for quality and accountability within their organizations. Vendors with strong leaders are more-likely to deliver on their promises and take responsibility if issues arise.
- Risk Mitigation: Understanding the leadership’s track record and reputation can help you assess potential risks. A vendor with a history of ethical leadership is less likely to engage in untrustworthy practices that could harm your business.
When choosing a third-party vendor, it’s not just about the services they offer or the cost-effectiveness of their solutions. Both are important. No doubt. But it’s also about the people leading the company and the ownership structure that guides their decisions making. Prioritizing leadership and smart ownership in your vendor selection will lead to more fruitful and lasting partnerships. So, the next time you’re outsourcing a part of your business, evaluate and interview the key members of their team. Investigate the ownership structure of your potential partners. Are they outside investors or part of the daily operations? A little extra due diligence may lead to the best business decision you can make.
