To paraphrase a bit course but well-known saying “The road to business success is paved with good intentions“. Every person I have met in my practice intends to succeed, to get along with everyone else in the business and all of the customers and competitors. We all know that reality is often an obstacle to fulfilling the good intentions.
Even better than good intentions is having a written contract to document your business relationship. Let me give you a couple of reasons:
1. A written contract provides the forum for both parties to share their “intentions” prior to the start of the relationship; once the intentions are on the table, you can discuss, debate and hopefully ultimately agree on the key points.
2. A written contact protects from someone with bad but yet to be disclosed intentions.
3. A written contract lays out how to end the relationship, usually without a lot of acrimony and without time in court.
How would I sum this all up? Keep your good intentions and put them into practice, just augment them with a solid written agreement.