Contract Negotiations with Dina Segal

"As you're starting your business, you're going to come across so many interesting and sometimes real challenges, really exciting problems to solve, areas of compliance and requirements that probably seem daunting, and I would say really seek out resources, seek out mentors.” — Dina SegalContracts will always be an essential part of a business. Whether it’s a business deal with your supplier or establishing a new agreement with your client, this piece of paper plays a vital role in protecting not only your business’s best interests but also the rights of the other party.Writing down agreements and signing them may seem simple, but contracts are significantly more complex. They leave no stone unturned, explore every point thoroughly, and allow for no exceptions—except when both parties agreed to do so.This episode will explore the ins and outs of the beginning of every business journey: the contracts. Beyond the lengthy paragraphs and complicated words, we will learn the factors to consider in contract negotiations, stress the importance of thoroughly reading the written word before signing, and discuss ways to ensure that your contract attracts only the best and the most suitable partners for your business.Listen to learn:‌How to classify workersHow organizations can help with your resources and mentoring needsHow to negotiate your contract wellWhy it’s important to know your business core for contract negotiationsWhy flexibility is essential in your contractHow to avoid ambiguity in contractsWhy attorney’s fees can’t be overlooked in business negotiationsHighlights:‌4:28      Services Third-Party companies can do for you7:56      Contracting people from all around the world10:21   Organizations that help in mentoring start-up businesses12:28   Importance of contracting14:50   Payment terms in contracts16:49   A Business’ Liability Issues19:01   Proper Process of Contract Termination22:06   Importance of reading Terms and Conditions22:58   Creating a form for your business23:49   Attorney's fees in Contract Provisions24:03   Seeking Guidance and MentorsLinks:‌ ‌Dina SegalGusto WebsiteCash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessMain websiteCash Clarity CourseApply to Work With MeMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa