Growth · Professional services

How do you currently vet & select your services partners?

Abhishek Singh Founder@ Headstrt

May 30th, 2021

Think about CFO services, HR Engagement services, Tech & data services, PR, Marketing, Branding & Advertising services, etc etc and all other professional services your firm's need. Do you mostly do it via referrals or is there a fast & scalable way for you to approach this?

Dane Madsen Organizational and Operational Strategy Consultant

May 30th, 2021

Through referrals from other founders and team members. Never accept blind proposals for services if at all possible. This is more critical in the governance tools such as legal, financial, and HR. You can fix a bad PR plan; those done bad can take you down.

Curt Sahakian Attorney

Last updated on May 31st, 2021

I don't think there is any good or reproducible way to do this. It is a problem that is probably thousands of years old.

And in a fast-moving environment, it's hard.

There is one rule that that will always serve you well. Keep your switching costs down.

The best way to predict the behavior of a vendor is to personally observe and experience it.

So, if you can, engage the vendor in ways that permit you to move on if or when you find deficiencies in their services.

Often if you have the ability to move on, you will have less need to do so. The vendor can't take the relationship for granted.

For example, avoid the temptation to build your business around one services vendor or software as a service vendor to whom you are irretrievably committed.

Curt Sahakian, Esq.

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PS: I like Steve Owens answer as well.

Steve Owens Startup Expert

May 31st, 2021

1. Do their customers look like me? For example, if all their customers are big giant established companies, then they are not likely to be a fit for a startup in the seed stage.

2. What do their processes look like. A PSF (Professional Services Firm) is only as good as their processes.

3. What do their people look like. If it is a bunch of newly printed degrees with no experience, then I shy away. Look for lots of gray hair. Hire the best, not the cheapest.

Abhishek Singh Founder@ Headstrt

May 30th, 2021

All legit pointers!

Gulzniak Abstroff

May 31st, 2021

You go to animal dovtor