Why Good Contracts Can Make You More Money
The word CONTRACT used to make me cringe for a few reasons.
1. I didn’t want to make things to complicated for my clients
2. I didn’t understand a lick of reading it and felt overwhelmed knowing exactly what I needed
Bittersweetly, I have had some circumstances through the years that has given me the business maturity to know what is needed to cover my bases and help my clients know the scope of something they have likely never purchased before. Good news is for you, these pitfalls can be avoided.
Today I am specifically mentioning my experience with Service Agreements, but there are a handful of contracts all businesses should consider:
• A Service Agreement
• Indépendant Contractor Agreement
• Employment Agreement
• Website Terms & Conditions + Privacy Policy
• Cancellation or Rescheduling Agreement
• Non-Disclosure Agreement
• Modern Release for Styled Shoots
• Liability Waivers
…. and more!
Why I have working contracts and encourage my clients to!
• It is way faster and more profitable to have an agreement than waste the time with missed communication and profit losses
• There are no client surprises when everything is outlined clearly about your process and expectations
• It positions you as the knowledgable expert you are
• Protects your ideas and time
• Gets you paid on time and extra if you have late fees
• Helps you be covered if you need to back out of a project for any reason or if there is a unexpected force majeure
• Avoid any litigation
Big Tip: Always put the contract in the name of the responsible, paying party. This will cover your booty.
A few high-level things to consider for you and your client to cover:
• Outline specifically the scope of work and exact deliverables
• Describe timelines, milestones and completion expectations
• Let people know when you need to be paid and how much a late fee will cost them
• Outline the expectation the client needs to know for their time or deliverables for you to do your job
• Ensure you are including information if there is any defaults for cancelation, postponements, force majeure
• Let your clients know the information exchanged is confidential for both parties. Your ideas and their personal info.
• Outline what happens if the contract needs to be broken by either party and what your standards are for harassment to you and your team
… and more! Contacts can be incredibly customized when you work with an attorney to personalize when you want more coverage.
I am proud to have found an incredibly attorney in our industry, Kunbi of Legally Set who has helped give me confidence in developing contracts for all the services I provide. She is doing 25% off til Sunday, April 24, 11:59pm. I wouldn’t miss out getting your legal framework buttoned up as business picks up this year.
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