If I can point to the one thing that probably led to over $1,000,000 worth of mistakes that I’ve made in my businesses (and I have the debt to prove it), it was that I spent little, if any, time documenting agreements.
Documents, records, and signed contracts—with partners, vendors, team members, investors, and clients—just might be the true secret of success.
Without them, you are asking for big, expensive, uncomfortable surprises.
Worse, you could be setting yourself up to fail, sabotaging the work you are here to do in the world—and selling yourself short.
Here’s the good news, once you learn how to make agreements and have a great set of templates, you don’t need to hire a lawyer every time (although having one who knows your biz is a tremendous asset).
I know it’s time-consuming. But having agreements is one of those signs to the Universe (and everyone else around you), that you mean business.
Plus, the process of getting your agreements in place will clarify your needs, enhance your relationships with clear expectations and boundaries, weed out the people who are not a good fit, and keep you from getting screwed over. Spell it out. Have you ever suffered for not getting things in writing?
Alexis Neely, truth-telling lawyer and evolutionary strategist, is hosting an open Q&A to answer all of your business legal, insurance, financial and tax questions Thursday.