"As you're starting your business, you're going to come across so many interesting and sometimes real challenges, really exciting problems to solve, areas of compliance and requirements that probably seem daunting, and I would say really seek out resources, seek out mentors.”

— Dina Segal

Contracts will always be an essential part of a business. Whether it’s a business deal with your supplier or establishing a new agreement with your client, this piece of paper plays a vital role in protecting not only your business’s best interests but also the rights of the other party.

Writing down agreements and signing them may seem simple, but contracts are significantly more complex. They leave no stone unturned, explore every point thoroughly, and allow for no exceptions—except when both parties agreed to do so.

This episode will explore the ins and outs of the beginning of every business journey: the contracts. Beyond the lengthy paragraphs and complicated words, we will learn the factors to consider in contract negotiations, stress the importance of thoroughly reading the written word before signing, and discuss ways to ensure that your contract attracts only the best and the most suitable partners for your business.

Listen to learn:‌

• How to classify workers
• How organizations can help with your resources and mentoring needs
• How to negotiate your contract well
• Why it’s important to know your business core for contract negotiations
• Why flexibility is essential in your contract
• How to avoid ambiguity in contracts
• Why attorney’s fees can’t be overlooked in business negotiations

Highlights:‌

4:28      Services Third-Party companies can do for you
7:56      Contracting people from all around the world
10:21   Organizations that help in mentoring start-up businesses
12:28   Importance of contracting
14:50   Payment terms in contracts
16:49   A Business’ Liability Issues
19:01   Proper Process of Contract Termination
22:06   Importance of reading Terms and Conditions
22:58   Creating a form for your business
23:49   Attorney's fees in Contract Provisions
24:03   Seeking Guidance and Mentors

Links:‌ ‌
Dina Segal
Gusto Website

Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business
Main website
Cash Clarity Course
Apply to Work With Me
Mini-course: The Debt Repayment Calculator
Mini-course: Pay Yourself
Mini-course: Personal Net Worth Calculator
Mini-course: The Ultimate Budget Binder

Follow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa