Balancing Protection and Simplicity in Your Vendor Contracts

Rooted In Revenue

Are you a small business owner unsure about contracts, roles, and expectations with your clients? In this episode of Rooted in Revenue, we dive into the importance of having clear agreements to protect you and your clients. As vendors, we understand the challenges of navigating these relationships and the potential pitfalls of not having a solid foundation. We discuss what clients should expect from you, how to demonstrate your value, and the key elements to include in your contracts. Whether you're a solopreneur or running a small agency, having well-defined contracts and expectations is crucial for a successful business partnership. Join us as we share our experiences and insights on this essential topic and learn how to set yourself and your clients up for a mutually beneficial working relationship.

Here are five key takeaways from this episode:

• Find out what a vendor's offboarding process is when you're done working with them, including how long they keep your information and how you will receive your deliverables. (Lany Sullivan)
• Delete access credentials and accessibility immediately when a client or vendor relationship ends to protect both parties. (Susan Finch and Lany Sullivan)
• Vendor contracts don't need to be lengthy; they should be simple, cover worst-case and best-case scenarios, and be easy for clients to understand. (Susan Finch)
• As a vendor, ensure your services and contracts are comprehensive and accessible to make clients feel good about working with you. (Lany Sullivan)
• Payment processors like Stripe and PayPal tend to side with clients in disputes, so having clear contracts, signatures, and proof of service is crucial for protecting your business. (Lany Sullivan)