Boost Business With Independent Contractor Agreements

By | Business Contracts, Business Lawyer | No Comments

independent contractor agreementsBefore we get to discussing independent contractor agreements, let’s review the primary reason they’re so important to growing your business: focus.

Why?

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.

Richard Branson: The Secret of His Success

By | Internet Lawyer | No Comments
business success secrets

Do you want to learn Sir Richard Branson’s success secrets?

Social media is abuzz today with Sir Richard Branson’s decision to let Virgin Group’s salaried employees take as much time off as they want. There are undoubtedly thousands of ecommerce company executives right now planning to copy Branson’s new HR policy. After all, if it works for the British billionaire, surely the policy will benefit your business too. Right?

You are not Richard Branson

This may be a good deal for Branson and/or his employees. That doesn’t mean it will work for your company.

Richard Branson’s business is not your business…and you are not him. What might work for him doesn’t necessarily work for you and your employees.

You are not Warren Buffett

You see the same type of mistaken assumption when it comes to other billionaires like Warren Buffett. There are hordes of investors trying to copy Buffett’s strategies and tactics. Yet they are not Buffett and they lack his resources.

For example, few investors can decide to dominate a particular niche by simply acquiring all the stock in the number one company within that niche. Similarly, most can’t pick up a phone get whatever help they need from Wall Street or Washington, D.C. to make a deal happen.

You are not Steve Jobs

Although there are lessons to be learned from Apple’s success, you are not Steve Jobs. Just because Jobs (and now Tim Cook) can do something with Apple doesn’t mean such action can or should be taken by your company.

You are not Tim Ferriss

The closest thing to today’s lovefest with Richard Branson’s new employee leave policy is the cult that developed around entrepreneur Tim Ferriss’ “4-Hour Workweek.” Like lemmings, many Internet business owners read the book and misinterpreted it.

A short workweek for someone with an existing online business that’s automated and supported by other human resources is very different than a new Internet venture where there’s only one or two people working 24/7 trying to building something.

If you read between the lines, Ferriss’ book really described a life were working 4 productive hours a day was far more beneficial for the average entrepreneur than screwing around 40 hours a week doing nonessential or low-value tasks.

Unfortunately, many Internet marketers decided to pretend their ecommerce companies were at the same stage as Ferriss’ business. Tasks were outsourced prematurely or to the wrong people. Customer support plummeted as emails were checked only once a day and phone calls were not returned. Productivity plummeted as a something-for-nothing mentality translated Ferriss’ book to mean four hours of goofing off would lead to success.

So what is the secret of Richard Branson’s success?

Who knows? Branson probably doesn’t.

Hindsight isn’t really 20/20. Humans have selective memories. If five eyewitnesses can give conflicting accounts a half hour after a traffic accident, what are the odds that Branson or anyone else can accurately identify all of the key factors to lead to early success in his business ventures?

Yes, success does leave clues. The late British billionaire Felix Dennis identified 88 of them in his books on getting rich.

Some of Richard Branson’s best business practices might help your business. The same can be said about countless others who have made their mark.

But you’re not any of them. Your resources and goals are different. Learn from others who are more successful than you but don’t assume everything they do will help you if you blindly copy it.