Get your agreements in writing
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Loading ...Having been an entrepreneur for most of my adult working life and a small business owner for a good portion of that time, I’ve been through many many situations that ended badly because there was no written agreement in place. That’s not to say that the situation could have been avoided, but the details that were the cause of the issue would most likely have been documented and part of an agreement. This is especially true when you’re having to deal with issues that are years old. I suggest you read my blog post “ANNOYING HABIT…” for my feelings on dwelling on the past. That aside, sometimes it is necessary to revisit the past in order to right some wrong, reveal some truth, or vindicate some injustice. The problem is, without written documentation, you are left with memories, and we all know how reliable memories can be… well most of us anyway. There are some who would argue that their memories of an event are crystal clear. I would argue that in most circumstances, these individuals simply have a crystal clear unique interpretation of the event, one that would differ from the other party’s memory of the event.
“Research suggests that at least some false memories are formed through rehearsal, or repetition, of an event that has been confirmed as fantastic: after repeatedly thinking about and visualizing an event, a person may begin to “remember†it as if it had actually occurred. Upon questioning, such a person might confidently recall the event when in fact it is merely previous visualizations that make it seem familiar. Rehearsal is the strongest mechanism of moving short-term memory into long-term memory. Naturally, the rehearsal of incorrect information leads to the formation of an incorrect long-term memory. This applies to both implanted and real memories.”
This short segment from http://en.wikipedia.org/wiki/False_Memory defends my argument that memories are notoriously inaccurate if the person who is “remembering” the event is motivated to remember the event in a particular context or from a specific point of view that supports their agenda. The fundamental problem is that problems in relationships don’t happen right away. Problems creep up over time, usually as a result of miscommunication and/or unrealistic or changing expectations. Without a written agreement that states exactly what the nature of the relationship will be, neither party has a clear understanding of their role or the other party’s expectations. In the end, both parties may end up having totally unrealistic expectations of the other. These expectations may be so unrealistic that neither party can meet them and in the end the relationship fails.
Before you consider getting involved with a new business partner, a client, or a strategic partner, make sure you have an agreement in place between both parties. In some cases this can take days, weeks, or even months to draft depending on the complexity and value of the relationship. If both parties are intelligent, serious, and professional they will have no problem with having the relationship documented. Don’t be swayed into getting into a relationship with another party without a formal agreement, it will most likely come back to bite you. If the other party insists that a formal agreement is not required or that they don’t want one, then walk away. Any short term benefit gained through such an agreement will be outweighed by the potential long term problems.
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