As small business owners, one of the hardest things we face is how to increase revenue without scaring away cost-conscious customers by raising our prices. Given this limitation, is there is there a reasonable strategy that will allow us to get more money for our work? Here we provide seven!
Posts filed under Contracts and Negotiation
NASA is Giving You A Multi-Million Dollar Opportunity!
What do Solar panels and infrared thermometers have in common? They are products that were developed from NASA technology. And now, NASA is giving startups the right to use the agency’s research and technology for FREE! Yes you read that right: FREE! So, do you think you can develop your own multimillion dollar product?!
Sell Goods? This Law Protects You!
Did you know that there is a different type of law that covers the sale of goods (as opposed to those covering real estate, employment, etc.)? If you sell goods, find out more about how to fulfill this law's requirements so that you are legally covered in case of disputes.
A Simple Misunderstanding Can Make Your Entire Deal Invalid
Most of us played “telephone” when we were children, so it's easy to see how the parties to a deal can easily have a misunderstanding if they only rely on verbal communication. But did you know that, in certain situations, that simple misunderstanding can make your entire deal invalid? Find out how to avoid this pitfall.
The Partnership That Helps You To Do What You Love
Are you someone who can come up with truly great ideas? Or are you someone who is better at suited to the practical realities of running a successful product business? Regardless of where you fall on the spectrum, entering into this relationship might be the easiest way for you to make money while doing the things that suit you most.
How Your Generosity May Land You In Court
I know that many small business people rely on handshake agreements and the principle of "I'll scratch your back if you scratch mine" when dealing with business associates. I've been told many that they prefer to NOT use written contracts because it denotes a lack of trust. Well, unless you are careful about how you hand out favors (especially when relying on handshake agreements) you may one day find yourself in court. Watch this 2 min video to find out how why and how to avoid this fate.
How To Vanquish Your Fear of Public Speaking (Infographic)
You practice and practice what you want to say. You have your note cads in your hands and you tell yourself that you are fully prepared. But the moment all those eyes in the audience turn on you, you just want to hide. You want to be anywhere other than where you are in that moment.
How You Can Enter Into A Contract Unknowingly
Did you know that you are entering into a contract every time you sit down to eat at a restaurant? A court may also find that you've entered into a contract in situations where you get an enormous help from someone else
Yes, You CAN Afford a Franchise! (Infographic)
Do you want to own a franchise, but always thought it was too expensive? If so, then here's with a wonderful gift –a list of franchises that you can purchase for less than $50K (with some even below $5)!
How To Turn Arguments / Disputes In Your Favor
Disagreements are a natural part of the human condition. Try as we might, it is not something that we can avoid. I have found that in many business settings we try to sweep disagreements under the rug… they are avoided at all costs or they manifest themselves in passive aggressive behavior. I do not think this is helpful to anyone because the underlying issues causing the dispute is not being addressed. But according to Jessica Stillman, there is a way to turn this negative phenomenon into something positive.
How To Pick The Right Type of Lease For Your Business
Now if you are like me, the question that you will probably want to know is, what kind of office lease should is the best bet for your business?
5 Ways To Persuade Your Clients To Hire You Long-Term
Are you stuck in a sphere where your clients only use your services for the bare minimum or call you when there is trouble? Don’t you think it would make more sense for both you and your client if he just had you on retainer? Essentially, you’d become what John Warrillow calls a “Managed Service Provider”or (MSP).
Use Your Body Language To "Pull-In" Your Audience
We always hear about how to use body language to project confidence and assertiveness. And there is nothing wrong with that: after all, I just wrote a post about how to master that last month! But what about when you want to “pull in” your audience with your charm and your warmth? What are the things you need to do to achieve that?
The Secret To Mastering Non-Verbal Communication
Celine (in the scenario above) is having difficulties because she is focusing on the wrong thing. As business owners, you are tasked with perpetually communicating confidence and competence to your customers, investors and other business partners. Though we always focus on saying the right things and having the perfect presentation, this is what people focus on when you interact with them:
Protect Your Stake In Your Partnership!
As Kohler explains, the goal of this contract is to protect the intrinsic value of a business for each of its individual partners. The buy-sell agreement does this by setting the price and terms of a buyout by the remaining partner(s) should one of the partners decides to voluntarily or involuntarily leave the business. These events (which would be specified in the buy-sell agreement) can include situations where the partner leaving the business: retires, gets a divorce, passes away or maybe just wants to sell his shares to someone else.
How To Save Your Company From A Legal Ditch
When I saw Adam Callinan's article about the 3 legal issues that can kill a small business, I was curious to see how the substance of his piece matches up to my recommendations to you these past few months. I'm happy to report that, for the most part, Mr. Callinan and I are on the same page when it comes to the legal risks that entrepreneurs should prioritize:
What Every Business Owner Should Know About Commercial Leases
For some businesses (though not all), your location not only affects your customers’ ease in finding you, it “may be important for attracting talent, situating yourself strategically among complementary and competing companies, establishing your brand and so forth.” Your location will also affect the rent you currently pay and will pay in the future. So, it’s important to “keep an eye on the local office market to get a general idea of rental rate trends”.
3 Ways To Legally Protect Yourself During Business Negotiations
My way of thinking about business people and lawyers was validated by Adriana Gardella’s piece about how the owners from the She Owns It business group view the role of attorneys in negotiating with larger companies. While one business owner (Ms. Lord) said she “prefers to use her lawyer as little as possible on deals”, another (Ms. Blumin) noted that she could not take this approach because the larger companies she works with always have attorneys who step in and change the terms of the already agreed upon term sheet.
4 Easy Ways To Legally Protect Your Confidential Information From Investors
Did you know that it has now become almost uniform policy among Silicon Valley investors to NOT sign non-disclosure agreements (NDAs)? Some investors believe that as an entrepreneur, you should be willing to talk about your ideas with anyone who is willing to listen. Others believe it is simply a waste of time because, with NDAs, meetings are delayed by at least a week while lawyers review the contract Another factor is that some entrepreneurs like Ben Goodwin have come to realize that even if you have a signed NDA, it is difficult and expensive to enforce in the long run and as a small business owner, he simply does not have the have the legal and financial resources to expend on that.
5 Ways To Best Safeguard Your Business' Most Important Asset
Recently, my father got offered the chance to meet with some key investors about the new software he developed. Though he was excited about this opportunity to make a direct pitch, the first thing he had me do was create a basic contract to safeguard the proprietary information he was going to divulge to his audience.
