Contracts are the lifeblood of business. Have you reviewed your agreements lately? Were they drafted correctly in the first place? Have your circumstances changed? Contracts are only as good as the language that’s used to write them. And you can be sure that the person giving the contract has key points skewed in their favor. This happens with even the most basic agreement. It’s important to know your rights and where you stand with each and every agreement.
While business is about making things faster, better, cheaper, contracts are about creating and keeping advantage. By knowing your agreements inside and out, you can understand those advantages and disadvantages. Those parameters can be the difference between succeeding and failing. They are that critical to the operation of business. By reviewing existing agreements, you may discover options you didn’t know were there, or different ways to look at existing business. A professional eye to detail is what makes this difference.
Contracts are discussed every day, whether you realize it or not.
You operate your business in a world of agreement. Whether a contract is verbal or written, implied or not, is an important factor governing the way you should be running your business. Knowing what to say and what not to say is key to negotiating an advantageous agreement. The time to discuss the agreement is not when you’re ready to sign. You need to be prepared – you need to know what to ask for and why. Without those key points, you’re leaving things up to chance, which defeats the whole purpose of a contract. Those assumptions made and not included are usually what gives away value, sometimes without even realizing it. Professionally drafted and reviewed agreements are what makes the difference and gives advantage day in and day out. Set yourself up for success – business has enough unknowns, contracts shouldn’t be one of them.
Employment agreements and employees’ understanding of them are just as important as your agreements with other businesses.
Addressing employees concerns, and understanding what they are in the first place, is one of the most important factors to any successful business. If your employees don’t understand what is required of them, they can’t be expected to perform up to those standards. Those standards are what you’re selling. They’re your competitive advantage. If you were to ask your employees one simple question – what is expected of you? – How would they answer? Are they even prepared to answer. Everyone who works for you should be able to answer those questions as quickly as their asked. And you can’t have that happen if you don’t even know or define what those things are. Without an employee agreement, no one is operating at their optimum level. Business is competitive enough without having those who you are paying working at cross purpose to what you need. Professional creation and review of this relationship is key to success. Don’t leave yet another thing to chance.