It never occurs to them that they should
They don’t know how to write it
They think it’s an insult to ask someone to put it in writing
They think it indicates a lack of trust
They think they need a lawyer to do it (they don’t) and don’t want to pay
They think their business arrangement is too small and time limited
They don’t think their small, short arrangement is actually a business
They assume that everything is obvious and that they are both/all on the same page
One or more has a hidden agenda
They plan to do it someday, but never get to it
WHY ALL OF THE ABOVE REASONS ARE NOT VALID
People assume that they have heard and understood the other, but often do not.
“That’s not what I meant”
People assume that the other person heard and understood them, but often didn’t
People forget exactly what was said by the other person
“That’s not what I said”
People forget exactly what they themselves said
Misunderstandings, lack of clarity, memory lapses, took things for granted, made assumptions, didn’t finalize decisions, have hidden agendas
SPELL EVERYTHING OUT!
I have made it easy for you with my Business Partnership Agreement Template and What Ifs Scenario Handbook to prepare for the unexpected.
For smaller business arrangements use my Template for Joint Ventures, Affiliations and Collaborations. ( Available Soon) All of these can be used multiple times for different business arrangements. So many of the failures could have been prevented if these tools had been used.
You have a lot riding on the success of your partnership. Small investments upfront bring great returns. Protect yourself and your dream and all those who count on your products or services.
Feel free to contact me by email or phone with your questions and comments