If you want to increase your revenues, your capacity, or even your time off, you need a team of service providers to fill in the gaps. That’s where setting clear expectations becomes the most important thing you can do.
But many owners of knowledge-based service businesses don’t do that. Sometimes they can’t—because the business is all in their head. Or they wait until they’re desperate – or drowning in work – to get help. So they throw assignments at the vendors and providers, expecting them to be mind-readers on how to handle deadlines, work quality, and control of the client relationship.
That’s why written agreements with vendors and providers are vital for protecting your business legacy. Without them, you’re at risk of having your information misused, your budget overrun, and your clients poached.
A Path to Progress
As a result of COVID-19, an event planning firm did a major business model pivot to virtual events. This meant outsourcing to more vendors with the technical expertise the firm lacked in-house. And doing so in a climate of customer scarcity, major concerns about revenue, and data security.
With the stakes suddenly higher, the firm engaged us to beef up their standard vendor agreements. To put more attention on keeping the end-client’s information confidential. Stronger prohibitions on engaging with client personnel outside the scope of the assignment. Protections in the event of a data breach. This clarity created the environment for greater trust in sharing their clients with others.
What We Do
With more than 25 years of experience in small business law, we know that standard agreements establish a system for doing business with vendors and providers. They leave out the guesswork on important issues such as payment terms, scope of work, and protection against the vendor’s mistakes. Which prevents disputes, and the hassle of resolving them. And, where using your contract is not an option, we decipher your vendors’ standard contracts so you can detect business risks early.