Sometimes business can get a bit complex and complicated, but there are simple solutions that we can apply to decrease some of the complexities.
Putting an agreement in place is one really simple strategy that will help keep everyone on the same page when two or more parties are working together.
I don’t necessarily like the idea of contracts. In an extremely litigious society, they tend to conjure up a level of mistrust and formality that is not really necessary for the type of work that I do. So I use “Service Agreements”, which offer the same level of protection and binding ability that a contract would.
There are some businesses with more formal operations in which the standard contract is absolutely necessary. However, regardless of the terminology, the goal is to put everything in writing whenever you are working in conjunction with another party so that everyone is fully on the same page.
Why It’s Important – Agreements, Contracts, MOU’S (Memorandums of Understanding), etc. are important documents to have in place because:
1.) They specify in writing what you and the other party(ies) have agreed to (e.g. scope of work, deliverable(s), etc.)
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2.) They clarify overall expectations relevant to the work, time frames, tasks and/or assignments and document the commitment, responsibilities and actions of those parties that are involved.
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3.) They offer a certain level of legal protection for both parties. In the event someone doesn’t hold up their end of the deal or if there is a dispute of some sort, you can always go back to your agreement.
So the next time you’re conducting business and find yourself entering into an agreement with another party, make sure you put something in writing.
Biz Practitioner
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