5 Big Benefits to Developing Partnerships with Other Consultants

By MBO Partners | July 7, 2017

group of professional consultants working in office

Although it can be easy view other independent professionals as competition—especially those within your industry—there are many benefits to developing relationships with your peers. Networking with other independents can lead to shared learning, collaboration, and referrals. While differentiating your business services can be a great way to stand out from the crowd, establishing strong relationships with those in your industry is equally important and can lead to the following five benefits.

1. Client Referrals

Occasionally, you may find yourself faced with more work than you can comfortably take on. In these cases, it can help to be on friendly terms with other independent professionals in your industry. If you can recommend a highly skilled consultant who is able to fulfill the client’s needs, you’ll create a win-win situation for everyone. The other consultant takes on a new project, the client’s work is finished in a timely manner, and you gain a reputation for putting client needs first—while not overloading your schedule. Additionally, if your contact finds themselves in a similar situation in the future, your name will be top of mind.

2. Expanded Network

Even though you may work in the same industry as another independent professional, you will likely have different strengths and expertise. Once you develop a professional working relationship with your peers, you can rely on your network to assist when you’re unable to meet specific client needs such as incorporating a programming language that you’re not familiar with. An expanded network is a great way to land referrals as well. If people are aware of your specific skillset, they’ll be able to recommend you when projects come up that align with your services.

3. Tips, Encouragement, and Friendships

Nobody can give you more insight into independent consulting in your industry than a current independent consultant in your industry. When you collaborate instead of compete, you’ll gain valuable insight about clients, projects, and industry trends that you can’t get anywhere else. Additionally, when you’re faced with a particularly tricky obstacle, fellow consultants will understand the type of encouragement you need to get through and succeed. Who knows—you may even develop long-lasting friendships!

4. Opportunity for Growth

If you’re new to self-employment, a reliable network of contacts can be a great sounding board for questions you have. Fellow independent professionals have likely tackled similar situations, and they can provide insight and guidance to help you avoid common pitfalls. Even if you’re not new to running your own business, talking through ideas or questions you have with a trusted mentor or fellow peers can provide a valuable outside perspective or inspire new ways of looking at a situation.

5. Strategic Partnerships

Working with another independent professional is an added perk to having an established network of strong relationships. Partnering with a peer can help you grow your business, share the burden of larger projects, or supplement your skillset when you need specific expertise. Not only will your client benefit from your joint knowledge, a wider breadth of skills, and a quality end product, but you’ll also have the chance to share in a collaborative project, bring new insight to the table, and ultimately create something you wouldn’t be able to do on your own.

If you’re ready to build your network, but want to expand beyond some of the traditional methods, consider joining a coworking space where you can share a work environment with other independent professionals. Often, independents in these sharing spaces form tightly knit communities, much like traditional offices and departments. Most coworking facilities will provide networking-centered events such as happy hours or lunch-and-learns.

MBO can help your partnership flourish by handling the relationship from a contractual standpoint. For more information on the value of networking and teaming up, contact us today.

Related Posts

consultants walking together

4 Reasons to Turn Down a Project

June 30, 2022

Turning down a project may not be your first inclination, but it is sometimes the best choice. If you’re new to self-employment, it can be tempting to accept every potential project that comes your way. After all, clients and the projects they provide are your sources of income. But just because an opportunity is presented…

How to Stay Motivated When You Work from Home

How to Stay Motivated When You Work from Home

June 29, 2022

Staying motivated can be hard if you work from home. Self-employment is many people’s dream come true. You get to set your own hours, work where you like, and be your own boss. But all that time spent alone can quickly take an emotional toll and it’s easy to lose motivation and energy when you…

consultant working on phone

5 Time Management Strategies for Small Business Owners

June 24, 2022

Managing your time while maintaining the freedom of setting your own schedule is a goal for anyone who is self-employed. After all, one of the biggest perks of independent work is the freedom from corporate nine-to-five days and the ability to create your own schedule. Without a set routine, however, time management can be challenging…

Learn more about the MBO Platform

For Independent Professionals

Start, run, and grow your independent business with MBO

For Enterprises

Find, manage and retain top-tier independent talent