Do you know that single most important part of any contract? Many business owners are kicking themselves and their growth is hampered because they did not pay attention to it---and what it could do to them.
Business owners are understandably in a rush to grow their business. You have to be fast to stay ahead. You must always look to next deal to grow your business. Software licensing, advertising contracts, link exchange agreements, service contracts, consulting arrangements, they are what you do. But in your haste to grow and make deal, do not run past this one detail. So often your concern on any agreement boils down to two questions, "What do I have to do and what do I get?" Ask yourself one more question.
It applies to both contract other people have you sign and ones you have your customers sign. It doesn't matter if it is a one-page agreement or a forty-page contract in ten-point print. Ask yourself this one question.
What is way out?
I know. It is last thing everyone thinks about. Everyone is too focused on making deal and not how to get out of it.
We have all heard of other businesses that found themselves stuck in a contract they cannot get out of. A hosting service has them locked into a multi year contract -forever in internet terms, or they are bound to supply a good or service at a ridiculously low price. A deal made when they needed money too much to turn down customer, and now they regret it.