TOP 5 TIPS FOR A SUCCESSFUL CONTRACT
Congratulations! You’ve landed the work and you’re ready to get started! Not so fast. The pesky challenge of managing a business while running your business strikes again. While you’re excited and ready to get started on the tasks at hand and wowing your client, an integral part of that process has to be the development and execution of a contract.
Here are five tips to create a contract that will ensure success, not only for you but for your client.
Write that down. There’s an old saying that if it’s not written down, it didn’t happen. As you develop a contract, be sure to capture expectations, deliverables, deadlines, etc., and in turn, you will ensure everyone is on the same page.
Be specific. While any contract is better than no contract at all, the particulars are important. If you have a specific timeline or preference for invoicing, be sure the contract documents that information.
Accountability is Key. It is hard to hold someone accountable for something that is not communicated. Document expectations and requirements and eliminate any opportunity for debate.
KISS. You know this one – Keep It Simple, Stupid. While not all contracts are a single page, avoid the complexities with basic language and details.
Not Carved in Stone. It’s a good thing we no longer carve our intent into stone tablets. It’s too cumbersome! In all seriousness, flexibility may be the key to any successful contract engagement. For example, the inclusion of an out clause or defining addendum requirements and other modifications ensure a necessary give-and-take in managing your business day-to-day.