Lessons We’ve Learned From Years of Managing Contracts

1. You must actively manage your deals and relationships. Keep in touch with your contacts; make sure contracts are up-to-date. You never want a client to bring it to your attention that a contract has expired.

2. Share the lessons you learned with each deal. Remember why deals went sour or why they succeeded, then share the love with others … perhaps they’ve learned lessons that you’ve yet to stumble upon.

3. Use a process. This way you’ll never miss anything you need to cover. Whether you want it laid out in a mind map or a thorough checklist, a process is the framework of a successful negotiation.

4. Know the essence of what you want when you do your deals. Understand the essence of your goals. For example, we might have a goal of not wanting to have exclusivity in the agreement. The essence of this goal is flexibility. Understanding this creates bigger boundaries for creativity for both parties. Understanding that you might be okay with a very narrow and limited exclusivity (if it gives the other side more incentive to market your service) still gives you flexibility.

5. The value of your business is the sum total of its deals. Make good deals, have a good business. Enough said.

What have you learned from your time managing contracts? Are there any learned lessons we should add onto our list?

[Photo from this website]

Ten Things We’ve Learned from Hugh MacLeod

Hugh has taught us a lot, and we want to spread the love:

1. Drawings don’t have to make sense

2. Having a dream is the first step to success

3. World domination requires an evil plan. If you don’t have one, don’t plan on dominating

4. Nonsense is cooler than sense

5. Mediocrity is for the birds

6. Being called crazy is a compliment

7. Anyone can become an entrepreneur

8. Simplicity is always key

9. Sharing is cooler than reading

10. Even people who doodle on business cards can become successful

Why is Hugh MacLeod relevant to us at WieseLaw Firm? Because he rocks, and was recently named Babson College’s official cartoonist. His purposeful art says far more in a handful of words than most books do, making him the perfect fit for Babson. We’re stoked to see more of what this new marriage comes up with. And if it’s anything like the piece displayed on this article, it will be good. (Hint, it says, “quit your yappin’ and go create something.”)

Need we say more?

[Awesome illustration above from http://gapingvoid.com/]

The Role of the Right-Brainers

Deal People -- We need to think beyond our transactions!

This means looking at the world of interaction and influence, and looking at the world beyond common left-brain skills (like accounting and law, for example). Daniel Pink, super blogger and author of some outstanding books, has given us a key to the world of interaction. Specifically, A Whole New Mind: Why Right-Brainers Will Rule The Future. In it, Pink introduces readers to six right-brain senses we need to supplement our left-brain senses with in order to successfully differentiate ourselves. They are the following:

· Design

· Story

· Symphony

· Empathy

· Play

· Meaning

Once we adopt these senses and the accompanying mindset of interaction (in addition to the left-brain skills), we will provide our clients with a differentiated value.

So go out there and master storytelling, bring design to your practice, and place a real importance on laughing and playing. If you haven’t yet read A Whole New Mind, I highly suggest it. It is a life changer.

You can find it here.

[Photo Credit: Mercedes Benz ad from here].