Before we get to discussing independent contractor agreements, let’s review the primary reason they’re so important to growing your business: focus.
As you build your company (online and/or offline), there’s a tendency to lose focus because there are so many opportunities that come your way. Whether it’s the idea that hits you in the shower or a tech article about a cool startup’s activities, there’s an urge to diversify.
Related Article: How To Use Business Contracts To Prevent A Single Point Of Failure
This week, Evernote discovered (ironically) that it wasn’t being productive because it had lost focus by selling ancillary products (Evernote-branded moleskins, scanners, etc.). So the company decided to dump all of it in order to focus on being a productivity software-as-a-service (SaaS).
“I can’t be involved in 50 or 75 things. That’s a Noah’s Ark way…you end up with a zoo that way.” – Warren Buffett
Similarly, at the heart of Amazon’s business is the sale and distribution of books. Now a logistics powerhouse, the company’s track record of burying the competition when it comes to selling books is well-known (R.I.P. Borders Books). Barnes & Noble is the struggling remaining large competitor in the “real” world.
So what has Amazon decided to do?
The company is opening brick-and-mortar bookstores that will stock about 5,000 titles each based upon data Amazon has obtained from online sales. The first store launched last month in Seattle with plans to open up to 400 more nationwide.
I’ve got a confession to make.
Like you, I get distracted by possibilities. You should see the many domain names registered for great ideas over the years that have absolutely nothing to do with my work as a technology lawyer or the legal-related tech startups that I co-own.
Related Article: Non-Compete Agreements And Independent Contractors
If your company isn’t growing as fast as you’d like, perhaps it’s time to apply the 80/20 Rule (Pareto Principle) to put the nonessential many projects on the back burner while focusing on the vital few that will move you forward.
Free Up Time With Independent Contractor Agreements
And if you’re still struggling to find time to work on what’s really important, just outsource some projects to freelancers using written independent contractor agreements. To get started, check out our Business Contract Legal Protection Package.
And, as your business grows you’ll want to consider bringing some of those outsourced projects back in-house using professionally prepared employment agreements.