Advancements in technology, improvements in communication methods, increased resource mobility and rising transparency in global markets has encouraged many companies around the world to outsource different business functions. Most companies find their own ways of such collaborations. Working as a technology partner with multiple clients over the years has enabled the business team at Synavos to devise 3 engagement models to suit different kinds of clients and their approach to working.
It is necessary to understand the situation of your business and the nature of your project to identify the model that will suit you. Be sure to consider the set of pros and cons associated with each engagement model before reaching a final decision. Let’s walk through the points you can think upon to get a better understanding.
- What is the level of control you would like to retain on the concerned project?
- How clear are you about the scope, project plan, product features and/or other requirements?
- Is the project dependent on skills that you have expertise on? Is it part of your core business?
Think about the answers for these and jot them down on a paper or your sticky notes. Now, does your situation look something like this?
There are various reasons you might not have high clarity of scope. You have a good product or project idea but the exact parameters are not yet defined or you are not sure how to go about the execution. It might be that you are new to a market and are unsure how to go about projects in this domain. This last reason links up with the question about whether or not the project is part of your core business. If not, it would be better to have experts in the field carry out your project and help you define a focused scope for your project.
At Synavos, we have a very simple and easy process for such clients.
Project-Based Engagement Model
We hold discovery workshops with our clients and gather the purpose and requirements of their project. Our product managers develop features around their idea and mature the product. Our design team builds an MVP to help them visualize the user journey and features better. Once they are satisfied, we finalize on the milestones. To make it easier for the client we establish a single point of contact, a reliable project manager, who updates them on every milestone, gives demos, gathers feedback and deals with all queries.
Basically, the client is free of all hassle and can simply view their product being developed as they envision it. This project-based model has the added benefit of having a fixed budget and a fixed timeline. So, if you go for this model, you will be able to execute your project in a very organized and planned manner.
Going back to the three questions mentioned above, let’s say your answers come out something like this.
If you are on top of the game regarding your project then you don’t need to hand out your project to another business or team. Sincere advice, if it’s an activity related to your core business then retain a high level of involvement and control on your project.
For such clients, we encourage them to own a dedicated team of their own. This method is most useful if you have a medium to long-term project, for example, you will need the team for as long as the product is in the market. You might have a clear initial scope but as the project moves on you may want to experiment with newer features. In a project-based model it would just be a hassle as you would have to initiate a request for every modification and development. Owning a team invested solely in your product would be much more open to creativity and product enrichment.
Own-A-Team Engagement Model
We understand the project of the client and together identify the skills they will be needing to execute it. With our established network in the IT market and a quality talent pool, we help them find the right resources. Some of our clients require team members on-site but majority of them manage the team off-site where they are located at our premises. We provide all resource management, equipment and an awesome culture for their teams.
There is a third option as well. You might not find the three questions relevant to your business situation. Instead, the following scenario might be more relatable for you.
If you find yourself in a situation where you have a great idea but lack resources, don’t be demotivated. Lack of budget would lead to lack of equipment, skilled team members and money to get the project going. Lack of experience on the other hand would mean you just don’t know how to go about execution. In such a case, find yourself a good partner who would invest in the idea with you.
We tell our clients that a good idea is at the heart of success, and for the rest there is team Synavos.
Partnership Engagement Model
We have had some clients come up with a great idea but lack of the right resources. Depending on the areas they need support in we come up with a partnership model of shared business investment, where we provide investment through one or more of these:
- Providing mentorship on the tools and technologies to use, business advice, work organization, team management and product development.
- Building a POC (Proof of Concept) that would cover detailed research, analysis and feasibility regarding the idea.
- Providing a dedicated team to design, develop, sustain and market the product.
These are the three main engagement models we have crafted. Of course, each client is different and may require a tweak here or there. That’s okay. The key is to find the right option for your business. These approaches and points will, hopefully, help you think and strategize better leading to a profitable business decision.