Contra dealing doesn’t have to be complicated, however, if you do not pay attention to the details of managing the relationship between your contra dealing clients it can lead to some confusion down the road. The lack of a proper process and important information written down can result in mistrust between the two parties. Here are some of our tips for how you should manage a supplier who is also a client in a contra deal.
- Make sure the outcomes of the contra deal are outlined clearly in a statement of work
One of the main reasons why received work is viewed as not up to standard is because the brief has not been good enough. This is a particularly big issue when it comes to contra deals as they are often based on an understanding that a certain type of work is going to be performed.
To ensure the other party has a good understanding of the work due is through a statement of work. This is proof over what you have agreed to perform in exchange for the contra service. This can be referenced back to if there are any issues in the future.
- Keep in regular contact with your contra dealing partner
Once you have produced a good statement of work for both parties, communication is going to be key in keeping the relationship strong going forward. If you arrange regular meetings and calls you can get a better understanding as to whether your contra partner is satisfied with the work.
It also allows you to discuss any areas where the other party has not met your expectations on their side. This is key as a serious breakdown in communication is often the start of a failed contra deal.
- Make sure you outline any shortcomings in the service from your side of the operation
As stated having good communication channels is essential. Make sure you use these channels to inform your contra-dealing partner on any areas you think their work could improve. This will help you ensure the contra deal is profitable as well as pleasant for both parties.
- Make sure you deliver your work items on time and to a good standard
This step is particularly important if you are heading into a contra deal with a new partner. Delivering work on time and being punctual in general will put forward the best possible impression and help you retain the client in the long run. It will also give you some leverage to request more high-quality work from their side if the contra dealing partners standards are slipping.
Get in touch if you want any more advice on how to manage a close contra deal relationship
This is not a comprehensive list of what you need to know when entering a new contra deal. Our other blogs talk you through the other areas to consider and you can always get in touch if you have any further questions.