Project Outsourcing
If you want help but can’t afford, or don’t need, full-time expertise, consider outsourcing projects or ongoing aspects of your business. However, make sure you:
- Define the scope of the job to give you a more accurate idea of how much the job should cost;
- Spell out liability arrangements so if something goes wrong, you know the extent to which either party is liable;
- Factor in intellectual property and have IP assigned to you so you own it outright;
- Identify key performance indicators so both parties agree on how work standards will be measured; and
- Know how to end it to allow either party to exit the agreement.
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