Did you read that headline in an Oprah voice? Well you should’ve because the big tip this week is that you should have a contract for every business relationship.
That’s right: you get a contract! And you get a contract!
Contracts are legal underwear: they cover your most precious assets. So don’t leave home (do business) without them; exposing yourself is never a good idea.
So how do you go about it?
Start by making a list of all your business relationships; think contractors, affiliates, partners, employees, other businesses you work with—whether you’re doing a joint venture or just a simple project.
Yes, you need to have a contract with all of those rascals.
“But Rachel! We’ve already worked together for a while and nothing bad has happened!”
Well, Toots, that’s just luck, not smart business. Your clients and contractors won’t balk, they’ll respect your business savvy and will probably be glad someone in the relationship is using protection.
Wink.
So to review: get all of your business relationships in writing.
This won’t only ensure that all parties understand their rights and obligations, it will protect your assets, both now and in the future.
So stop reading this post and get to it!
For some more juicy info on the how and the why of business underwear, check out these articles . . .
Contracts: How Do You Know When You Need One
Do I Really Need a Contract When Partnering With a Friend?
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