The Need for Contracts with Any Business Activity
Hey there I'm Eric Olsen and I'm Kevin days join us on our journey to building a one hundred million dollars company. What is up? Everybody's it's air jails and here. I've been a little more speaking and one of the things that I realized that I needed was some sort of engagement contract so the reason that I did this is for a couple of reasons one is I wanted to set the expectation. Russian with this new customer that I'm going to be speaking for about what it is that they're gonna get from me so I'll list out all the different things that they should expect for me as far as how I'm going to promote their event when and I'm going to arrive and then I list some very detailed information into this engagement agreement things like the date of the event the location of the event the audience that's going to be there and this this is all based on my conversation with with them so I- list out who the audiences that I'm going to be speaking to and then I also list out which talk I'm going to give and I provide details about that talk. I do all that because I don't want there to be any. Beauity if they're hire me to do a talk whether it's paid or free doesn't matter they're still hiring me. I wanted to know exactly what they're getting on the flipside I do because I want them to read through that and they should have a very clear understanding what they're getting from me and then also anything that they expect should be in that contract as well so they expect it to be free then they should see that in their if they expect to pay a certain amount for my speaking fee than it should be in there as well but I'm handling these speaking. Engagements the same way I would handle any business transaction. I have a contract as just this contract is super simple compared to the contracts that we do at a rate digital this one or two pager and there's a signature block and that's about it. There are no terms of service or anything thing like that. I want to keep it simple at least for now. I'm guessing that as I do more and more speaking engagements there will be some more terms. Maybe even a long list of terms and I need to address things like cancellations right how much time under they get. How much time do I get what if I need to cancel and all those different things? I'm not too worried about that right now. I'm just thinking about a basic contract and so set that up and I set it up as a very basic document. I sent him a p._D._F.. By email. L. Attachment they read it. They approve it. They sign it the Senate back us on into countersign and that's it. It's over but once I get that back I have a commitment and I know what that commitment is and then they have a commitment as well. It's important that we both commit commit to what we've talked about and it's super clear just like any contract so if you're going to be doing some extra activities where you have to commit to something especially if there's money that's being exchanged than I would encourage you to come up with. The simple engagement contract it's helping me already because someone that I spoke with this and we definitely want you and I sent them the agreement and they didn't sign it for like two or three weeks. They still wanted me but they weren't committed minute enough to signing it and so guess what I didn't block off my time and I told him that I'm not going to block off your event and this time until you sign this contracting it back to me so it confirms that people are very serious about harming me for their engagements just like any contract so I had to go through the whole process. It was actually a lot of fun because it's the first time that I've created a contract from scratch in a long time. The last time was gosh four or five maybe six.