A contract is primarily there to protect your business and your clients. It sets out how each party is expected to act and manages the business liability and risks. But as a business owner do you know exactly what is in your terms and conditions?
Regards dealing with consumers, we know that on average 73% of consumers admit to not reading the small print, but it would be interesting to discover the figure in relation to businesses – our view based on our clients feedback is that small businesses are more likely to read one another’s’ Ts and Cs because of the equality in bargaining power.
Yes it may be a mundane, time consuming task to read through the contract but it is there to protect you and therefore it’s important to know the content.
Every business wants to have happy clients. However, people pleasing can be confusing to customers. Whilst it is important to keep your clients happy, you also need to manage their expectations. Telling a customer what they want to hear every time might seem like a good idea, but in reality all it will do is cause problems. A contract helps to manage the clients expectations afterall you simply want to deliver the best service to your client.
In the event of a dispute, it might be easier to blame the contract because you don’t know what is in it, but ignorance is no defence. A contract is there to help and support your business, and usually if there is a problem then it will help you to resolve that dispute.
By taking the time to understand what is in your contracts you can help to grow your business and reduce the number of customer disputes. Contracts are there for a practical reason, they add to your professionalism, help manage risk and can promote business sustainability.
Would you like to chat through your options and get your queries answered? Arrange a call with David using the calendar below and he will be delighted to connect with you.