When dealing with freelancer contracts specifically, the people over at Entrepreneur Magazine created a checklist of things that must be done. We have provided a summary of the advice they provided. continue reading...
Posts filed under Contracts and Negotiation
HIRING FREELANCERS? PROTECT YOURSELF WITH THIS
In a recent blog post, I wrote about the pros and cons of hiring employees versus independent contractors (or freelancers). As we noted in that piece, contractors or freelancers tend to be less expensive than a typical employee. That being said, as Jaia Thomas highlighted, there are 3 things you still must do to protect your business if you decide to hire freelancers.
How To Get The Most Out of Any Licensing Deal
A few weeks ago, Apple’s multi-billion dollar deal for ‘Beats Entertainment’ rocked the business and entertainment worlds. Was Beats’ licensing agreement with Monster Cable to manufacture their products still in effect? How can we use this deal to learn about the 3 aspects of any licensing agreement that will help us maximize our bottom line? continue reading...
Active Listening - An Integral Skill For Effective Business Communication
QUESTION:
Are you more receptive to people who you believe are trying to understand you - even if you never reach a point of agreement?
For most people the answer to this question is YES.
Most of us like to feel as if our perspectives are being given a fair hearing. When that happens, regardless of outcome, we are more receptive to the person who is giving us the opportunity to fully express ourselves.
How do we treat people with whom we are more receptive?
- We are more tolerant of their missteps;
- We want to be around them;
- We seek their counsel, or at a minimum, use them as a sounding board;
- We are willing to have a give-and-take conversation with them (even if it will end with an agreement to disagree).
These skills are useful to you, as entrepreneurs in many situations.
They include:
- Networking
- Client meetings and presentations;
- Team meetings among colleagues;
- Negotiating with a vendor, partner, subcontractors; etc
The factors that go into Active Listening are as follows:
- To actually take the time to LISTEN (do not zone out or plan your rebuttal)
- Follow rather than control discussion
- Leave plenty of room for expression
- Use your non-verbal communication skills that are consistent with good listening
- Validate the Speaker's entitlement to his/her point of view
- Recognize the emotions and meanings that are being to communicate with you (i.e. show empathy)
- Seek clarification with open-ended follow-up questions
- When it's your turn to speak, summarize what you heard the speaker say in your own words to clear up any potential misunderstandings.
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Should You Get Paid To Mentor Other Entrepreneurs?
Until I read Jessica Alter’s piece about formalizing the relationship one has with one’s business advisers (or mentors), it never even occurred to me to provide payment to the people who choose to work on my behalf. So far, the adviser relationships are maintained by the bond of friendship (also, it doesn't hurt that my friends are also in the business of giving small business owners advice). So, what should I do? Should I formalize this relationship? Would a contractual relationship that entails duties, obligations & payment limit a friend’s ability to provide advice only when he is willing and able? continue reading...
An Easy Way To Protect Yourself Without Going To Court
I was extremely surprised when I found out that many small business owners bypass contracts and use simple handshake agreements when they conduct business. Whenever I confront an entrepreneur who does this my question is always the same, “Don’t you want protection?” Yes, I said ‘protection’, because this is the main selling point of a contract. It lays out the actions that must be taken by each party; it uses language that minimizes misunderstanding; it is evidence of your agreement that you can use in court if there is a dispute. Also, as we noted in our Contracts Cheat Sheet, some agreements will not hold up in court unless you use a written contract. continue reading...
General Mills Is Not The Only Company Trying To Take Away Your Right To Sue...
General Mills is not the only company that is trying to use contracts to limit your ability to access the courts. This is a relatively widespread practice that is currently being used by banks and even some dentists! continue reading...
