| |
| |
|
Entrepreneurialism Information |
|
|
|
Developing A Contract
As a service provider, the most important type of "boundary" you can set as a business owner involves those policies and procedures that govern how you interact with your clients. The more precise you can be about the services you provide, your fee structure, and what you expect from your clients, the smoother your work relationships will be. And the most effective way to make sure that each party involved understands these policies -- and that there is no confusion -- is to have each client read and sign a written contract. WHY HAVE A CONTRACT Some entrepreneurs will enter into working relationships without the benefit of a contract. Certainly, as an business owner, you are welcome to do whatever you wish. However, I would caution you against this practice for a couple of reasons. First, you are setting your customers up for confusion about your business policies down the road. Having each client sign a contract before beginning work allows you to make sure they understand how you work, your pricing structure, and any other pertinent information up front. A contract also gives you a measure of protection if a client fails to uphold his or her end of the bargain -- sometimes the mere mention of a contract is enough to keep your clients in line. Finally, a contract adds a measure of professionalism to your business. People tend to take a businessperson more seriously when he or she pulls out a well-written contract. And anything that increases your credibility can only be a bonus! A written agreement does several things for you: - clarifies your pricing and policies - insures that your client understands your requirements - outlines the services you provide - protects you against loss of income from clients who cancel or no-show - gives you leverage in an legal dispute with a client So what do you need to include in your contract? Here are a list of issues to consider: SERVICES Exactly what services will you provide? Exactly what do you require of the client for a successful relationship? What are the anticipated results of the services you will provide the client? How will you measure those results? What kind of guarantee do you provide? How do you determine when the terms of the contract have been met and when services have successfully been rendered? SCHEDULED APPOINTMENT TIMES How will you schedule appointments with a client -- in writing or with a verbal agreement? How will you handle a situation when your client is running late -- and how long will you wait for a client after the scheduled appointment time before assuming canceling the appointment? How will you compensate the client if you are running late? PRICING How will you charge for your services -- by the hour? By the day? By the project? Will you present a formal proposal, a binding bid, or a flexible estimate prior to beginning work? Will you charge separately for other services -- shopping for supplies, researching other solutions, consulting with other professionals? Will you charge for travel -- and how far are you willing to travel to work with a client? Will you work with clients who live outside of your city or state? What is your minimum charge for an "out-of-town" client? Will you charge extra for working on weekends? Evenings? Holidays? For "rush" jobs? PAYMENT TERMS When do you expect to be paid by your client? At the time that services are rendered? Within 30 days? 60 days? 90 days? Will you collect a retainer and subtract worked hours from that balance as you go? Will you present your client with a bill when you meet with your customer -- or mail an invoice later? CANCELLATION FEE How much notice will you require when a client cancels an appointment? 24 hours? 48 hours? What are the consequences of canceling without adequate notice? How will you handle a no-show? Will you charge for the entire scheduled session? A flat fee? Is it due even if your client chooses not to reschedule the appointment? How will you collect? And how will you compensate the client if you have to cancel or no-show? LATE PAYMENT AND NON-PAYMENT What will your fee be for paying late -- a percentage? A flat fee? When does the clock start ticking? How long will you allow a late fee to remain due until you escalate your efforts? Will you use a collections agency to recoup money owed? Will you take a client to small claims court? CONFIDENTIALITY How will you protect any sensitive business, personal, financial, or legal information you learn about a client? Under what circumstances may you share this information with another person or organization? What documentation of permission do you require from the client before discussing his or her issues with another person? MAKING IT LEGAL A solid contract is one of the easiest and most proactive ways to prevent client misunderstandings and potential legal entanglements. You may use these guidelines to develop the basic structure of your contract, but please be sure to have an attorney review it - to make sure that the language is appropriate and the document will stand up in court. Good luck! Ramona Creel is a Professional Organizer and the founder of OnlineOrganizing.com -- a web-based one-stop shop offering everything that you need to get organized at home or at work. At OnlineOrganizing.com, you may get a referral to an organizer near you, shop for the latest organizing products, get tons of free tips, and even learn how to become a professional organizer or build your existing organizing business. And if you would like to read more articles about organizing your life or building your business, get a free subscription to the "Get Organized" and "Organized For A Living" newsletters. Please visit http://www.OnlineOrganizing.com or contact Ramona directly at ramona@onlineorganizing.com for more information.
MORE RESOURCES:
Entrepreneurialism - Google News |
|
|
|
RELATED ARTICLES
Strategies for Overcoming Obstacles to Discovering Your Gifts What are the unique gifts that differentiate you from other solo entrepreneurs? The path to discovering your gifts may take a lifetime, but you can use the exploration process to begin to use your gifts NOW! Unfortunately, for many different reasons people get sidetracked or never even get started taking the actions that would help them discover their uniqueness. Here are some suggested strategies to help move forward and stay on the path of discovering your gifts. Starting Your Business: It All Boils Down To Making Money and Saving Money Bootstrapping in the context of business start-ups refers to the use of creative financing approaches such as leveraging personal savings, credit-card debt, loans from friends and family, bartering, and other means to launch a business. Some business founders use bootstrapping because they have no other choice. Work On, Not In Your Business Are you busy? Everyone's busy! Ask anyone they'll tell you how busy they are. But how many people are accomplishing real results?In your small business, it's easy to get buried in the myriad activities that demand your attention each day. Opportunity Does Not Knock Q: I'm graduating this year with a degree in business and would like to start my own business rather than get a corporate job. I have a few business ideas, but none of them really gets me excited. Double Your Income Automatically It is a common known fact that it is far cheaper to keep an existing customer then it is to acquire a new customer. With this fact in mind you need to do everything possible to keep your existing customers happy and find complimentary products to offer your existing customers. What is Entrepreneurship? In discussing entrepreneurship and writing articles on the subject, I have found that it aids understanding when we begin by agreeing on exactly what the word means to us.Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled. What Kind of Business Should I Start? It's not uncommon to reach your 30s, 40s or even 50s and still wonder, "What do I want to be when I grow up?" Few people are fortunate enough to be certain of their destinies early on and the rest of us are forced to do some soul searching.The desire to own a business is becoming more common as workers grow more frustrated with the economy and working in corporate America. Creativity & Entrepreneurship: The Creative Evolution of an Intellectual Property© In each of us, there is a creative spark - a unique purpose and destiny for which we are born. Most of us have forgotten what that special gift is, or we are afraid to live it. The Reluctant Entrepreneur It seems odd to think of a person opening a shop, knowing that they're not at all interested in selling or in face-to-face interaction with customers. But that's exactly what many Internet business owners have done. What Part of Handwriting on the Wall Dont You Understand - They Dont Hire People Over 50 In a recent talk to the Detroit Economic Club, President Bush told of a powerful statement made to John Bailey by his wife, "Just what part of the writing on the wall don't your understand - companies don't want people over 50!" The White House staff had become aware of an amazing story of entrepreneurial success stemming from John's wife's words.John's wife was very quick to read the writing on the wall, rationalizing that it would be virtually impossible for John to find a new job. Starting Your Business By The Book I've gotten several questions recently about the legalities of starting a business. So, this week I thought I would address a few of the more common legal issues most new businesses face. Time Management Tips for Solo Entrepreneurs Does it seem like everyone and everything is vying for your attention all at once? It can be hard for solo entrepreneurs to know what to do first, let alone try to find the time to get caught up. Here are some time management tips that will help you to stay on top of it all:1. Getting Rich Isnt a Bad Idea You've seen plenty of articles claiming to offer you the secret to getting rich. Some ideas, however, are thin veneers covering some scheme that often involves multi-level marketing or a service with questionable intents. Executive Suites - A Way To Save Cash Cash is one of the most important resources to a new business. One of the best ways to conserve cash for a startup business that is in need of office space is to rent an executive suite rather than to rent traditional office space. Two Types of Business Plan Executive Summaries Companies seeking capital often ask how long the Executive Summary of their business plan should be. The answer depends upon the use of the summary, mainly determining if 1) it precedes the full business plan, or 2) it will be used as a stand-alone document. The Cockroach Test Let me ask you a question? Imagine I would offer you $10 for eating 10 living cockroaches. Would you do it? Now listen, I raise the ante and offer you $100. Franchising Companies Need New Franchisee Checklists When franchise companies are moving fast in the market place they must pay attention to the details. If a franchisor fails to give the required items as outlined in the franchise agreement to the franchisees on the prescribed timeline they risk legal issues and regulatory issues. Independent Auto Detail Shop VS Biz Op or Franchise Owning a detail shop can be an exciting and rewarding business indeed. Many times an owner of an independent Detailing Shop will wish to add those items he/she believes their customers want. The Secrets to Becoming a Successful Creative Entrepreneur: JJK Secrets #19-21 Hello Creative Entrepreneurs!Welcome to the e-class on Creativity & Entrepreneurship: The Creative Evolution of an Intellectual Property©Let's start with the thought for the day:When you find the destiny for which you were born, all you need to bring is your courage, your honor and your commitment! From the movie North and South.I love this quote! It says it all. Its Good to Know Your Banker Recently my bank opened a new branch that is a few miles away from my house. I used to visit the local branch that was located in the grocery store and enjoyed seeing the ladies on a weekly basis who were the tellers.
|
| Good Credit Loans | home | site map | School Bus Clothing | Florida Pool Heating |
| © 2006 |
