Consultants & Artists Need Contracts in Chicago, IL
Consultants & Artists Need Contracts in Chicago, IL
Many consultants and artists are attracted to the creative aspects of their profession and don't much care for the business details. Yet, these can be crucial. Consultants and artists that provide services to clients or sell their work through dealers, galleries or agents have business relationships with these clients or distribution partners. A successful relationship means negotiating and implementing an agreement that works for both the artist and the other party. For example, you may entrust your services or products to a seller who, in turn, promotes and markets it, sells it, collects the money, and then pays you a predetermined percentage of those sales.
Sounds pretty straightforward. But what happens if one or both parties don't understand the details of an arrangement, or decide that the arrangement isn't fair, or simply don't honor the arrangement. Obviously, a resolution may be reached through a simple discussion between the two parties. Sometimes it can get complicated which is why you need to protect yourself with a legal document from 12Law.com.
First, know who you are dealing with. Do not enter into business relationships with people you do not trust -- contract or no contract. Check a client or partner's social media pages and website, ask for references and/or learn about their reputation. How long have they been in business, how promptly do they pay, do they follow through on their promises and so on.
Second, when you meet with the other party, make a list of your expectations, and be ready to discuss them one by one. These include details such as the product or service you will provide, the price or other financial terms, how and when you expect to be paid, and how long you want the business arrangement to last. Partners will have their own requirements. Those that don't match yours will need to be negotiated.
Negotiating is not easy for many consultants or artists, especially those who are just starting out. Becoming a good negotiator is more a matter of experience than anything else, so get in there, do your best, and learn as you go. Early in your career, you have less bargaining power and fewer negotiating skills. Think about enlisting the help of a mentor or even a paid consultant that can advise you on deal terms.
The central aspect of every negotiation is money, so don't enter into negotiations unless you have a good idea of what your product or service is worth. Be realistic and flexible, especially if you have not yet created a highly sought after brand. Don't be afraid to talk about money. You can ask the other party to put a number on the table first, but you will still need to respond, so go in knowing your anchor (minimum you will accept) and your goal.
When you are done negotiating, put the agreement in writing - sign a contract that covers all the basic points. Agreements that don't get written down are subject to a variety of problems, not the least of which is one side remembering it one way and the other side remembering it another.
After the contract is signed, make sure you understand the relationship from the other party's side. Empathy is an important aspect of any successful working arrangement. Deliver on time, show up, and do whatever else you and the seller agree to. Don't make commitments unless you intend to keep them, and never misrepresent yourself in any way. Once a relationship is in place, stay flexible and be easy to work with. Avoid feelings of entitlement, and don't take yourself too seriously or get unreasonable about unexpected events. Word travels fast, especially in a social media connected world; you don't want to ruin your reputation and career before it gets started.
You have talents and skills that are valuable. Use them wisely. Protect them with a contract from 12Law.com.