Building Effective Business/Career Relationships (5)

Good day. How are you doing? Today, we'll continue with the series "Building Effective Business/Career Relationships".

We've talked about identifying and nurturing key business/career relationships. We've started talking about NURTURING WORK RELATIONSHIPS. We've talked about dealing with difficult bosses/customers. Please share how these tips have helped you thus far.

Today, we'll focus on dealing with Third Parties (Vendors, Suppliers, Contractors, Consultants etc). These tips should be helpful whether you are required to deal with third parties as part of your job or if you need their services to grow your business.

1. Ensure the selection process is transparent and within the provisions of the law.
Ensure that you research and understand what the law requires when you have to use third parties. No matter how tight your contract is, if you have run foul of the law, you expose yourself (and your organization/business) to litigation. Also, you may be unable to get relief if you have to take the other party to court if you are not in full compliance either. One of the maxims of equity says "He (or she) that comes to equity must come with clean hands".

2. Execute a valid contract that gives terms and conditions, spells out each party's liabilities and which includes consequences for default, among other things.
It's best to get a lawyer to tidy this part up. Even if you have a law degree, I don't believe it'll hurt to have another lawyer review your contract before you execute it.

3. Be courteous to them.
The fact that you (or your organization) will be paying for their services does not give you the right to disrespect vendors, suppliers, contractors, consultants etc. They are professionals in their own right and are actually part of your key stakeholders. In some cases, they may eventually become your clients/customers. Treat them right. Address them properly. Pay them as and when due. Tidy up your end of the bargain.
I've seen cases where some client representatives end up seeking employment with organizations that they've managed as third parties.

4. Take heed to their professional advice.
There is a reason why you (or your organization) is paying and going through all the hassles to engage third parties.
There is the recurrent case in many major accidents where professional advice was ignored and the organization/business eventually paid dearly for it. If your consultant/vendor/supplier/contractor gives you professional advice, don't wave their concerns aside; it may eventually hurt your organization/business.

5. When in doubt about the quality of their professional advice, seek a second opinion without violating the contract terms and conditions.
If their advice seems suspect, don't override your gut feeling. Carry out independent checks and if possible, get a second opinion. Also, you can search online before you proceed.

6. Before terminating a contract, consider other arbitration options.
Terminating a contract is usually messy and there is always the potential that the other party will seek legal redress. It can be messy. Before you hit the "terminate" button, you can organize meetings to express your displeasure. f that doesn't work, try writing formally to express your (organization's) displeasure about the quality of the good or service you're receiving. This should get the other party moving most of the time. If this doesn't work, you can then involve your legal team/lawyer formally (though you should keep them involved on a regular basis even when things are running smoothly).

I'll love to get feedback from readers.
Please share your views and experiences. Thank you.