Showing posts with label Strategic Alliances. Show all posts
Showing posts with label Strategic Alliances. Show all posts

Thursday, March 10, 2011

Finding Strategic Partners and Referral Relationships


Have you considered cultivating referral relationships with other service providers? These can be providers who write resumes, provide career or interview coaching, career testing services, or life coaches.

When choosing possible partners, look for individuals or companies that share a similar work style. Get to know enough about them that you would feel confident in recommending them to your clients.

In this blog post, I’m going to focus on how this process applies to selecting resume writers to partner with, but the process is the same for whichever type of provider you’re interested in working with.

The two most important factors when selecting a referral partner are whether they can do a good job and whether they can handle your clients well.

The process starts with identifying likely candidates. There are lots of options -- local providers, regional or national providers; direct competitors; colleagues.

The obvious choice is to look in the Yellow Pages or online listings. But don’t stop there -- you can also find possible candidates through networking in local professional associations -- Society of Human Resource Management chapters (for example, mine is the Human Resource Association of the Midlands). Depending on where you live, you may also have local associations of resume writers — for example, the Resume Writer’s Council of Arizona.

The advantage of working with existing résumé writers or career coaches in your local areas is that you can meet them personally and observe their operations firsthand.

Most of the service providers you consider will probably already be in business. They should have existing business structures — phone, computer skills, recordkeeping systems — to handle referrals you send their way. If they’ve been around a while, they probably don’t need much hand-holding either — which means you could set up a partnership agreement pretty quickly.

On the negative side, these are usually your competitors — meaning your prospective client may have already contacted this person or company and decided not to work with them, for whatever reason. So then you’re put in the position of “selling” your competitor to the prospective client, which may or may not work.

Are you interested in pursuing a strategic partnership or referral relationship? Purchase the "Developing Strategic Alliances and Partnerships with Recruiters" special report from Resume Writers' Digest.

Tuesday, February 22, 2011

Frequently-Asked Questions About Referral Relationships

In my new special report, "Developing Strategic Alliances and Partnerships with Recruiters," I address some frequently-asked questions about developing and structuring referral relationships.

Here are some of those questions:

Question: Why would a recruiting firm contract with me instead of hiring a resume writer to join their staff?
Answer: The major advantage to the recruiting firm is that they do not increase their fixed costs when they contract with you instead of hiring an employee. They collect a commission for referrals they send your way, but don't have to pay a (fixed) salary for what may be an uneven workload.

Question: How should I handle 'internal' client projects for the recruiting firm?
Answer: There may be situations where the recruiting firm contracts with you directly to write a resume for a key client (instead of the client paying you).

In these situations, you can charge the recruiting firm your fee, less the referral commission (i.e., they would pay 60-85 percent of your normal rates for these projects), paid directly to you at a specified time (i.e., once a month). I suggest invoicing the recruiting firm for these projects and handling payment separately, rather than deducting payment from commissions you owe them.

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Want to learn more? Purchase the report, "Developing Strategic Alliances and Partnerships with Recruiters." The cost is just $27 and the file is available for immediate download.

Friday, February 18, 2011

New Special Report: Developing Strategic Alliances and Partnerships with Recruiters

Have you ever considered developing a formal relationship with a referral source -- a recruiter, headhunter, career coach, mental health therapist, even a Realtor® -- but didn't know where to start?

Today, I'm officially launching my latest Resume Writers' Digest special report: "Developing Strategic Alliances and Partnerships with Recruiters."

This information-packed report is designed to give you an in-depth guide to develop and structure these relationships -- from finding prospective referral partners to coming up with a compensation structure to things you should include in a Letter of Agreement or contract to ensure the relationship begins -- and ends -- the way it should.

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Here is an excerpt from the report:

Risk vs. Reward and the Role of Resources
The more risk you take on (i.e., investment in materials, free programs for the recruiting firm's clients), and the more resources you commit (developing custom forms and templates, meeting with clients at the recruiting firm's offices because that is more convenient for them), the greater the share of the project fee you should reap.

You might consider different fee-splitting percentages, depending on the arrangement:
  • Seeing clients at your office vs. at the recruiter's office vs. virtually
  • If you are collecting the fee vs. if they are soliciting the funds and then paying you (thus allowing them to "use" the money in the meantime).
If it's up to you to structure the agreement, write it in such a way that is favorable to you, and be prepared to negotiate the details, if necessary.

As a general guideline: The more resources you commit to the project, the greater your share of the project fee should be.

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I conducted interviews with resume writers who currently are in strategic alliances and/or partnerships with recruiters or headhunters and there are also five case studies in the report detailing their experiences. Report also includes Frequently-Asked Questions.

The "Developing Strategic Alliances and Partnerships with Recruiters" special report is just $27 and is available for immediate download.

In addition, I'm doing a special giveaway ... Suggest a topic for a future Resume Writers' Digest Special Report (using the comments section below) and I'll pick one random entry to win a free copy of another one of my special reports, "Maximizing Your Cash Flow: Subcontracting and Referral Relationships." Limit one entry per person. Comment deadline: 2/28/11. Winner will be notified via e-mail.