Selecting the Right Partner

Construction is the only industry where the cheapest is always best. In any other industry we recognise: 🏚 "You get what you pay for" 🥜 "Pay peanuts, get monkeys" 💰 "You pays your money, you takes your choice" But not in #Construction. CHEAPEST.IS.ALWAYS.BEST --- About a year ago, a developer called me to help her out of a hole. "𝘛𝘩𝘦 𝘤𝘰𝘯𝘵𝘳𝘢𝘤𝘵𝘰𝘳'𝘴 𝘸𝘢𝘭𝘬𝘦𝘥 𝘰𝘧𝘧 𝘴𝘪𝘵𝘦. 𝘞𝘦'𝘳𝘦 6 𝘮𝘰𝘯𝘵𝘩𝘴 𝘪𝘯. 𝘕𝘰𝘵𝘩𝘪𝘯𝘨 𝘸𝘰𝘳𝘬𝘴." The selection criteria? Lowest price. The savings? £110k. The problem? £250k+ to fix what's been built wrong. --- Here's what nobody talks about: 𝙂𝙤𝙤𝙙 𝙘𝙤𝙣𝙩𝙧𝙖𝙘𝙩𝙤𝙧𝙨 𝙖𝙧𝙚𝙣'𝙩 𝙚𝙭𝙥𝙚𝙣𝙨𝙞𝙫𝙚. 𝙏𝙝𝙚𝙮'𝙧𝙚 𝙟𝙪𝙨𝙩 𝙝𝙤𝙣𝙚𝙨𝙩 𝙖𝙗𝙤𝙪𝙩 𝙬𝙝𝙖𝙩 𝙩𝙝𝙞𝙣𝙜𝙨 𝙖𝙘𝙩𝙪𝙖𝙡𝙡𝙮 𝙘𝙤𝙨𝙩. That "expensive" tender includes: • Proper supervision (not shared across 3 sites) • Real contingencies (not low-ball allowances) • Actual programme float (not fantasy timelines) • Quality subcontractors (not whoever's available) The cheap tender? It's a business model built on ＶＡＲＩＡＴＩＯＮＳ. --- Want better tender selection? Try this: 𝗔𝘀𝗸 𝗳𝗼𝗿 𝘁𝗵𝗲𝗶𝗿 𝗹𝗮𝘀𝘁 𝟯 𝗳𝗶𝗻𝗮𝗹 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀 Compare tender price vs final cost. The pattern tells you everything. 𝗦𝘁𝗮𝘁𝗲 𝘂𝗽𝗳𝗿𝗼𝗻𝘁: "𝗟𝗼𝘄𝗲𝘀𝘁 𝗽𝗿𝗶𝗰𝗲 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗱𝗶𝘀𝗰𝗮𝗿𝗱𝗲𝗱" Watch quality contractors breathe a sigh of relief. The cowboys? They'll price properly or walk away. 𝗔𝘀𝗸 𝘁𝗵𝗶𝘀 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻: "𝗪𝗵𝗮𝘁 𝘄𝗶𝗹𝗹 𝗴𝗼 𝘄𝗿𝗼𝗻𝗴?" Good contractors list 5-10 realistic risks and their solutions. Bad ones? "Nothing, it's all straightforward." 𝗚𝗲𝘁 𝗮 𝗣𝗿𝗲 𝗧𝗲𝗻𝗱𝗲𝗿 𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗲 𝗱𝗼𝗻𝗲 Your QS will be able to tell you where the price should come in at. If it’s considerably cheaper it’s a red flag --- The brutal truth? Money is expensive, margins are tight. Developments have become Cost-Led, not Design-Led. There is simply no room for wasted money. 𝘽𝙪𝙩 𝙩𝙝𝙖𝙩 𝙘𝙝𝙚𝙖𝙥 𝙘𝙤𝙣𝙩𝙧𝙖𝙘𝙩𝙤𝙧 𝙞𝙨𝙣’𝙩 𝙨𝙖𝙫𝙞𝙣𝙜 𝙮𝙤𝙪 𝙢𝙤𝙣𝙚𝙮. 𝙏𝙝𝙚𝙮 𝙖𝙧𝙚 𝙜𝙞𝙫𝙞𝙣𝙜 𝙮𝙤𝙪 𝙛𝙖𝙡𝙨𝙚 𝙚𝙭𝙥𝙚𝙘𝙩𝙖𝙩𝙞𝙤𝙣𝙨. When will we learn? PROJEKT QS 𝘏𝘦𝘭𝘱𝘪𝘯𝘨 𝘺𝘰𝘶 𝘱𝘳𝘰𝘧𝘪𝘵 𝘧𝘳𝘰𝘮 𝘊𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯

If Shah Jahan had floated an RFP and picked the lowest quote, the Taj Mahal wouldn’t be "THE TAJ". Services aren’t “3 quotations and done." Great outcomes in services come from choosing the best partner who is aligned with your vision, not the cheapest vendor. Finance & Accounts is the same—don’t choose your CA/F&A partner on the lowest fee. Choose the one who turns numbers into decisions and profit into cash. What to evaluate beyond price: 1) Growth mindset (Are they growing?) Their growth and discussions around compliance or growth numbers such as CCC, Valuation, Days, Plan vs actual. 2) Outcome clarity: One focused monthly meeting → numbers, shortfall, action plans. Clear plan for next 3 years and not just worried in compliance dates. 3) Fit to your long-term plan: Have they done what you’re aiming for (scale-up, multi-plant, exports, bank raise, PE/Valuation/M&A)? 4) Trust, Team & compatibility: who will do the work, not just who sold it. How often will we review & report? Or working with just interns. Whether it’s marketing, tech, legal, or finance: don’t buy cheapest—buy desired outcomes if you also want to build "THE TAJ" for you. Choose partners who create value you can measure in the long run. #ProfessionalServices #Consulting #Procurement #ValueCreation #VendorManagement #OutcomeBased #SMB #Growth

Price should almost never decide which supplier you choose. But in many companies supplier selection looks like this: ↳ A rushed RFP ↳ A few price comparisons ↳ Someone saying “they seem good” ↳ Procurement asked to sort the contract Then everyone's surprised when the supplier underperforms. Selecting the right supplier is not a gut feel decision. The best procurement teams follow a structured approach. A simple version looks like this: 1. Identify the need 2. Define the evaluation criteria 3. Identify potential suppliers 4. Pre-screen the shortlist 5. Issue RFIs 6. Score responses objectively 7. Conduct site visits and audits 8. Assess supplier risk 9. Negotiate key terms 10. Finalise the contract 11. Monitor performance 12. Collaborate and improve The kicker is that most stakeholders engage procurement after step 3 but the real procurement value is delivered steps 1 to 3. Then we can use a structured model like Carter’s 10 C’s to assess suppliers across areas such as: ➟ Capacity ➟ Competency ➟ Cost ➟ Cash ➟ Commitment ➟ Culture ➟ Communication The goal isn’t just to pick a supplier. It’s to build a low-risk, high-performing supplier portfolio. Because the right supplier can create enormous value. And the wrong one can create enormous pain. The infographic below summarises the whole process. Useful for anyone building a more structured supplier selection approach in their business. ♻️ Repost if this could help your network. Anything I've missed? Any others to add? 📌 Subscribe to my free newsletter and get an infographic bundle: https://procurebites.com/

𝐑𝐞𝐟𝐥𝐞𝐜𝐭𝐢𝐧𝐠 𝐨𝐧 𝐚𝐥𝐥 𝐭𝐡𝐞 𝐬𝐮𝐩𝐩𝐥𝐢𝐞𝐫𝐬 𝐈’𝐯𝐞 𝐬𝐨𝐮𝐫𝐜𝐞𝐝, 𝐨𝐧𝐞 𝐭𝐡𝐢𝐧𝐠 𝐢𝐬 𝐜𝐥𝐞𝐚𝐫: 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 𝐦𝐚𝐭𝐭𝐞𝐫𝐬. Taking shortcuts can lead to wasted money and a world of headaches downstream. (𝘙𝘢𝘪𝘴𝘦 𝘺𝘰𝘶𝘳 𝘩𝘢𝘯𝘥 𝘪𝘧 𝘺𝘰𝘶'𝘷𝘦 𝘦𝘷𝘦𝘳 𝘣𝘦𝘦𝘯 𝘢𝘴𝘬𝘦𝘥 𝘵𝘰 𝘧𝘢𝘴𝘵-𝘵𝘳𝘢𝘤𝘬 𝘙𝘍𝘗 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵𝘴, 𝘰𝘳 𝘩𝘢𝘥 𝘭𝘦𝘢𝘥𝘦𝘳𝘴 𝘱𝘶𝘴𝘩 𝘧𝘰𝘳 𝘤𝘦𝘳𝘵𝘢𝘪𝘯 𝘴𝘶𝘱𝘱𝘭𝘪𝘦𝘳𝘴, 𝘪𝘨𝘯𝘰𝘳𝘪𝘯𝘨 𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭 𝘳𝘪𝘴𝘬𝘴?!) 𝐖𝐡𝐚𝐭 𝐈'𝐯𝐞 𝐥𝐞𝐚𝐫𝐧𝐞𝐝: 💡 𝙁𝙤𝙘𝙪𝙨 𝙛𝙞𝙧𝙨𝙩: Be specific about your needs in RFx docs. If you’re unclear, suppliers will be, too. Before going to RFP, always have quantifiable evaluation criteria finalized and approved by the Spend Owner. 💡 𝙄𝙩’𝙨 𝙣𝙤𝙩 𝙟𝙪𝙨𝙩 𝙥𝙧𝙞𝙘𝙚: The cheapest option often costs the most in the long run. Prioritize value over price. Suppliers who price things materially lower than benchmark norms usually cut corners somewhere to meet margins. 💡 𝘾𝙝𝙚𝙘𝙠 𝙧𝙚𝙛𝙚𝙧𝙚𝙣𝙘𝙚𝙨 𝙩𝙝𝙤𝙧𝙤𝙪𝙜𝙝𝙡𝙮: Source independent references via your network. Past performance tells the real story. Ask the right questions and listen closely to the answers.  💡 𝙏𝙝𝙞𝙣𝙠 𝙖𝙝𝙚𝙖𝙙: Can the supplier grow and evolve with your business? Are they innovative and flexible? Does their company culture and ways of working align with yours?  💡 𝙆𝙣𝙤𝙬 𝙩𝙝𝙚 𝙧𝙞𝙨𝙠𝙨: Most suppliers come with some level of risk, the key is understanding and managing it. Conduct due diligence on short-listed suppliers. Outputs should inform the down-selection process, with material deficiency action items included in the contract. 💡 𝘾𝙝𝙤𝙤𝙨𝙚 𝙥𝙖𝙧𝙩𝙣𝙚𝙧𝙨, 𝙣𝙤𝙩 𝙫𝙚𝙣𝙙𝙤𝙧𝙨: The best suppliers care about your long-term success and aligning with your goals.  Look at proposals holistically, thinking beyond the transaction and into value creation. 𝐇𝐞𝐫𝐞’𝐬 𝐭𝐡𝐞 𝐭𝐡𝐢𝐧𝐠: Looking back, I’ve been at firms in seasons where costs were prioritized over total value, often leading to short-term gains but long-term challenges. There were times I should’ve taken a firmer stance about material supplier risks identified and bias in the selection process.  As procurement peeps, we provide recommendations based on long-term value, risk management, and partnership potential. This includes having the courage to speak up with informed and actionable guidance when things don't pass muster. The goal is to ensure sourcing outcomes build a foundation for success, not just a quick win. 📢 𝙋.𝙎. 𝙒𝙝𝙖𝙩 “𝙨𝙘𝙝𝙤𝙤𝙡 𝙤𝙛 𝙝𝙖𝙧𝙙 𝙠𝙣𝙤𝙘𝙠𝙨” 𝙨𝙤𝙪𝙧𝙘𝙞𝙣𝙜 𝙡𝙚𝙨𝙨𝙤𝙣𝙨 𝙬𝙤𝙪𝙡𝙙 𝙮𝙤𝙪 𝙨𝙝𝙖𝙧𝙚 𝙬𝙞𝙩𝙝 𝙮𝙤𝙪𝙧 𝙮𝙤𝙪𝙣𝙜𝙚𝙧 𝙥𝙧𝙤𝙘𝙪𝙧𝙚𝙢𝙚𝙣𝙩 𝙨𝙚𝙡𝙛?

Let me be clear: Your property management team is the linchpin that can either make or break a real estate investment. Brokers might dazzle you with their presentations, but how many of them stick around a decade later to check the accuracy of their projections? I'd venture to say, not many. That's why your property management team is paramount. But here's the catch: Most investors are clueless when it comes to choosing the right property manager or management team. Drawing from my early career experience in property and asset management, here's what I've got to say: 1. Seek a property management team dedicated solely to property management. There's a sea of brokerages out there with property management divisions, whose primary aim is just to break even or make a modest profit from property management. Their real hope? That they can win your leasing or sales business in the end. 2. Recruit a property management team that treats your property as if they own it. Some firms out there do the bare minimum for minimal pay. If you're hands-on, that might work. But if you want your property to appreciate in value, you need a team that's invested in its growth. The ideal scenario? Link their compensation to the property's success, not just occupancy rates. 3. Choose someone who knows the ins and outs of property management. In today's real estate market, struggling brokers often add property management to make a quick buck. They might not have a clue about effectively running a property. Just because they can lease it out doesn't mean they can manage it. Look for a firm with someone sporting years of experience, education, and credentials like the Certified Property Manager (CPM®) from @The Institute of Real Estate Management. Seek out certifications and designations that are grounded in real-world experience. 4. Opt for expertise in your property type. Different property types come with different needs and expectations. What flies in the industrial sector may not work in multifamily. If you want your property to be managed to its fullest potential, you need someone who's an expert in the nitty-gritty specifics. So, property managers out there, what's your take? Did I miss anything crucial?

Thinking of Co-sourcing Your Internal Audit? Here's What to Look For. Choosing the right co-sourced internal audit partner isn’t just a compliance decision — it’s a strategic one. Here are a few practical things to keep in mind: Business Understanding: They should go beyond checklists and truly understand your industry, operations, and risks. A strong partner adds value, not just reports. Right Team, Not Just Right Pitch: Ensure the team you meet is the team you’ll work with. Experience on paper means little without execution on the ground. Flexible approach: One size doesn't fit all. Your audit partner should adapt to your processes and culture, not force a copy-paste method. Digital Mindset: Are they using modern tools to drive insights and efficiency? Good tech makes audits smarter, not just faster. True Collaboration: The best audit partners act as allies — working with your teams to strengthen processes, not just point out flaws. Clear, Actionable Communication: Insight is only useful if it’s understood. Avoid partners who speak only in technical jargon — clarity is key. Your co-source partner should be a second brain, not a second burden. #InternalAudit #CoSourcing #Governance #RiskManagement #AuditExcellence

Choosing the right embedded payments partner is not easy, and for ISVs, the stakes could not be higher.👇 The wrong decision can cost time, resources, and trust with end users. But how do you know which partner will truly deliver? Here are just some of the challenges ISVs face when evaluating providers: 🟣 Roadmap strength and transparency 👉 Without a clear and communicated product roadmap, you are left guessing whether the platform will scale with your business or remain stagnant. 🟣 Service and support 👉 It is not just about getting you live. ISVs need integration support before and after the sale, responsive account management, and a partner that feels like an extension of their own team. 🟣 Pricing clarity 👉 Many providers hide fees behind complex structures. Transparent, fair, and predictable pricing models remain the exception rather than the rule. 🟣 Training and enablement 👉 Even the best technology is wasted if your team cannot use it. Ongoing education and accessible resources make all the difference. 🟣 Geographic reach 👉 Does the provider support your current footprint and the regions where you plan to grow? A payments partner should never be the reason you cannot expand into a new market. 🟣 Product stack flexibility 👉 Too many solutions force a narrow stack. ISVs need choice, modularity, and tools that suit their users rather than the provider’s preferred model. 🟣 Sector knowledge 👉 Each vertical has its own regulatory, operational, and commercial nuances. A partner with proven experience in your market can anticipate issues before they arise. 🟣 Strategic alignment 👉 Ultimately, ISVs need a partner that shares their long term vision rather than a vendor with good technology alone. The embedded payments landscape is crowded. The best partners rise above the noise by offering real collaboration, not just capability.

As I continue to meet with organizations looking to achieve #ISO42001 certification for their AI Management System (#AIMS), one recurring challenge is their uncertainty about where to start or what to do next. To simplify this process, I’ve created a practical buyer’s guide for selecting the right audit and certification partner (Certification Body, or CB), which focuses on helping you and your organizations navigate this confusing concern with more confidence. ➡️ The guide emphasizes: 🔸Clarifying Needs: Start by defining your scope, assessing readiness, and understanding your goals, especially if you plan to integrate ISO42001 with standards like #ISO27001 or #ISO27701. Things we’ve discussed here many times. 🔸Evaluating Certification Partners: Look for accredited providers with proven expertise in AI governance, risk-based auditing, and value-added relationships with Advisory/Readiness Partners who offer services like gap analyses, remediation, and training. 🔸Avoiding Pitfalls: Don’t focus solely on cost. Prioritize experience, preparation, and alignment with your organization's goals. Partnership is the process of creating value via shared resources, some of yours, some of mine. That said, choosing the right partner isn’t really about certification as much as it is about building trust in your AI systems, ensuring compliance with evolving regulations, and demonstrating leadership in responsible AI practices. Creating long term value for your organization. For those who are interested, you can use this checklist to help you take the next steps in preparing for your audit and finding the certification partner, that's the best for for you. Transparently, my hope is that you choose A-LIGN, but even more than that, my earnest desire is that you choose the partner that is the best fit for you. Shea Brown Jacob Nix Christian Hyatt Tom McNamara Chris Arrendale Walter Haydock #TheBusinessofCompliance #ComplianceAlignedtoYou

Choosing the right co-founder can make or break a startup. Building a startup is hard, incredibly hard. Having launched 2 startups over the past 8 years, I've learnt some things. The obvious set of traits to look for are trust, complimentary skills (given the requirement of the startup), common vision, integrity, reliability and hunger to build. While everyone talks about the importance of a shared vision and complementary skill sets, one crucial aspect often overlooked is conflict management—how to handle disagreements and resolve issues effectively. Even the best co-founder relationships will face conflicts. Co-founders who can manage conflicts seamlessly will build more effectively. Here’s how we managed disagreements without letting them become personal: 👉 Open Communication: Establishing a culture where both parties feel safe to express their opinions and concerns. A startup is about having difficult conversations many times. 👉 Stay Objective: Focused on the problem, not the person. This is very important. Personal attacks are a strict no-no. 👉 Agree to Disagree: Sometimes, agreeing to disagree and moving forward with a compromise was the best solution. Have areas where each of you will have to able to take the final call (if the case may arise) 👉 Third-Party Mediation: I am not a fan of this. This should be done when all else fails. The vetting process involves a series of meetings, honest conversations (e.g., "Are you okay with zero salary if things get tough?"), and reference checks. Knowing the person beforehand is an added benefit. Remember, a co-founder breakup can be very painful and may even jeopardize the company. My learnings: 🎗Take Your Time: Don’t rush the process. It’s better to take time finding the right person than to hastily choose someone who isn’t a good fit. 🎗 Set Clear Expectations: Define roles, responsibilities, and equity distribution early on to avoid misunderstandings. 🎗Communicate Openly: Establish a culture of transparency and open communication from the start. 🎗Prepare for Conflict: Have a plan in place for handling disagreements constructively. Selecting a co-founder is one of the most critical decisions you'll make as an entrepreneur. Take your time, be thorough, and ensure alignment on vision and values. Conflict management is a vital aspect that should not be overlooked. What qualities do you think are most important in a co-founder? Share your thoughts and experiences below! #Entrepreneurship #Startups #teambuilding

Thinking of joining a startup? Ask these first:   In the early stage, job titles are not important. Comp and equity are important, but not the only thing. These are the questions everyone should ask the company and themselves before joining a startup. They reveal whether you’re joining a rocketship or a trainwreck. Ask yourself: • Do I believe in these people? • Would I follow them into a tough problem space? • Would they follow me when things go sideways? • Are they seeking the truth or driven by ego? Ask them probing questions: • Who are the best people you've ever worked with? Are they here? Why not? • How do you approach failures? Give examples of failures the team and you faced recently, and what did you learn from them? • What’s the most important goal for the quarter/year? How about the top 3? • What if you don’t achieve them? Pay attention to how the team operates under pressure. Do they work with clarity and respect or chaos and blame? Culture isn’t what’s written on the walls; it’s how people treat each other when nobody’s watching. If you can, spend time with the team outside of interviews. Grab coffee. Join a lunch. You’ll learn more from a casual conversation than from any formal panel. Also, talk to customers. Do they see what the team is working on as game-changing and indispensable? If not, why? Startups live and die by the caliber of people. Choose your team like your future depends on it. Because it does.