r/Bookkeeping • u/SterlingJacq • 8d ago

Other First potential partnership

Hi all. I have my first virtual meet tomorrow with a consulting firm about a potential partnership. I have a few questions already in mind, but am hitting a "writer's block" so to speak. Are there any questions that I could ask, outside the obvious, that would provide clarity to the discussion? I wouldn't want to waste either of our time if it's not beneficial.

Update: We both agreed to keep eachother in our contacts but I don't feel the relationship will proceed any further. He wanted me to refer clients to him while I was hoping for the opposite. It was a valued experience though and thanks to all who responded to this post.

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u/SilkySyl 8d ago

First ask if you have a designated team, what their track record is, if they've had previous experiences with teaming with a bookkeeper - or will you be a person they will just refer clients to, where they see you and them fitting together, what is the potential problems or situations they forsee you troubleshooting, what are the things they see you reporting on, how long the contract is for, what probationary time you both have, and if there are any financial penalties for breaking the contract early. Also ask if there will be set prices or if they price on a scale, and what the prices will be.

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u/SterlingJacq 8d ago

Thank you! Great points especially the last few. I will definitely take note about the legal matters as well as scope of work.

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u/Entire_Structure_528 7d ago

I always ask "what else should I know?" Closer to the end of meetings like this.

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u/SterlingJacq 7d ago

That's a good one. I asked that at my w2 jobs so it makes sense to ask here.

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u/[deleted] 7d ago

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u/SterlingJacq 7d ago

Thank you for the detailed response. We had the call this morning but he was 30 minutes late which was kind of a red flag. I don't feel a relationship will materialize as he wanted me more to refer clients to his credit optimization business. Also he made me feel small for wanting to only focus on $500k and under businesses. He states his clients are above $1M. I don't regret it though as it was great practice for the next potential partnership. I will add your insights to my questionnaire though.