Business legals are sexy!
Yes, you read that right. Business legals are sexy.
I’m sure you’re thinking “Tracey, you need to get out more” (and you’re right), but it’s no longer ‘on-point’ to simply say “I don’t need those boring documents” or “it won’t happen to me”. Having good legals is the new sexy—and I want female business owners in particular to be the people with hot legal documents that everyone is jealous of.
When I’m asked what is sexy, I straight away think: Sophisticated. Confident. Strong. Rich. (Yes, rich, as in money—and there is nothing wrong with this, by the way!)
When we are setting up our business, or growing it or pivoting, there are so many things to think about. Owing to this, it can be tempting to put legals somewhere further down the over-flowing to do list.
Enter Me – centre stage – to tell you NOT to push your legals down the list, but to bring them to the front and centre and get them into tip top shape. Make them sexy!
I love nothing more than when a business owner slides into my DMs to chat Business Ts & Cs! It shows such confidence and sophistication, and a woman who means business!
When I say business legals, I mean Website Terms and Conditions, Privacy Policies, Terms of Trade, Service Agreements and any other Business contracts, terms and conditions.
If you’re providing a service, having your Terms of Trade (or often called Business Terms & Conditions or a Business Service Agreement) drafted to clearly set out what you are providing and on what basis, plus the expectations of both you and the client/consumer is important. For businesses selling goods, agreements needs to be far more specific and tailored and include not only what is being sold and for how much, but disclaimers, warranties and returns policies are critical.
The Australian Consumer Law governs what information and details businesses need to provide to consumers, and when. Understanding and abiding by the Australian Consumer Law is key.
Other business legals can cover agreements between business partners, conditions for contractors/employees and your expectations in engaging with consultants.
There are so many times where we enter into partnerships or work arrangements with friends—and I think this is great. Working with like-valued women is high on my priority list, and it’s why I recently went into a partnership with one of my business besties.
Respecting the relationships means putting in place clear agreements for both of you, so if there is ever a misunderstanding, it can be dealt with appropriately. Respect is a fundamental element of a relationship and clear legals say respect—so sexy!
It is simply not worth the risk of not taking the time to prioritise a business’ legals.
Getting your legals prepared properly means having them tailored for your business. In doing so, you can:
- Set crystal clear expectations for your clients, so they know what to expect from you, and what you expect of them.
- Prioritise value and getting paid (a big one!).
- Create long-term positive relationships with your clients.
- Reflect the highest level of professionalism for your business.
- Avoid unnecessary, time consuming, expensive (and often soul destroying) disputes and legal proceedings.
Your business legals should be sophisticated. They are an extension of your business and they should be tailored to suit exactly what you do (and in some cases don’t do).
They can be prepared in ‘your voice’, and demonstrate confidence that you can do what you say you can do, that you will do it, and that you will be paid well for doing it.
If you understand your business legals, what they do and how they work, then you will be proud every time you issue them to a new client. You will also be able to answer any questions about them each and every time you are asked. Straight forward. No mucking around.
Importantly, strong business legals mean you will be paid. And if you’re not, you will be able to rely on your legal documents to help you take action to deal with the issue quick smart.
In short, you and your business are worth business legals that shine—nothing less.
Tracey Mylecharane is a Business Chicks Premium member and business and litigation lawyer with over 17 years experience. Visit her website if you’re interested in working together to achieve a sense of security in your business.