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This page contains helpful tips, suggestions, advice, and generic documents that will help Professionals work better with Businesses and Businesses have a more successful connection with Professionals. As time goes on we’ll be adding to this page in the hopes of giving you more tools and resources to be successful. If you have information or content you would like to contribute or if you have questions about being a Professional, working with a Business a Business contracting with a Professional, please contact us.
From Rich Neumann co-founder
I have been an employed and consulting CFO for 10 plus years. I have worked as a consultant and engaged my fair share of them. I have had situations where things work out very well for both sides and where they failed horribly. The successful and the unsuccessful share one very common attribute, clearly defined expectations. You will hear me pontificate on this like a hell fire preacher. Communicate! The basic tools for communicating are listed below. Make sure that you have them clearly defined and in writing before you begin. Make sure that you have them clearly defined and in writing before you begin. Click on each one for more information and generic forms you can use.
- Project Definition
- NDA - Non Disclosure Agreement
- Deliverables
- Contract
- Status Report
- Invoice
- Rating
Did I mention the most important thing you can do is have an open and clear line of communication between the Business and the Professional? This is the single most important factor in a successful business connection.
As a Business you’ve come to The Biz ConneXion because you feel you are in need of skills and expertise to solve a problem, resolve an issue or expand your markets. Take time to clearly understand what it is you need help with. It may be that you don’t know exactly what it is you need help with. In that case be honest. “Our competition is killing us and we don’t know why. We need someone who can help us identify what the competition are doing right and what we can do to beat them.” The more specific you can be, the higher the probability is that you can connect with the Professional who has the exact skills you’re looking for. Listing your project as; “We need help with HR.” will not get you what you need. HR covers everything from recruitment to compensation, to laws, employee handbooks, organizational and management development, reviews, benefits, layoffs, etc. etc. Each one of these is a highly specialized field of expertise. If you don’t know, be honest with yourself and your project and our Professionals are here to help you identify exactly what needs to be fixed.
Defining your project is the most essential first step in successful communication.
2. NDA - Non Disclosure Agreement
Why do I need an NDA? An NDA or Non Disclosure Agreement is an essential first step in the relationship between a Business and a Professional. It is a document which informs the Professional that they are going to be privy to confidential information about your company, your executives and employees, and about your products. It goes on to state in the form of a legally binding contract between the parties, that both sides agree not to disclose (share, disseminate, use for other clients, etc) the information that is proprietary. Consider this document as an introductory handshake. Unless you’re Howie Mandel, there is no reason not to shake hands or in this case sign an NDA. This should be the first order of business you take care of when meeting a client for the first time.
Again this is an essential part of the communication. “I’m going to tell you stuff about my company that I want you to treat as confidential”. And, “I agree to treat your information as confidential”.
You can download a generic form here
Portions in RED must be changed; the rest can be modified as necessary.
Now that you’ve signed an NDA, the next step is to define the scope of the project. Do this right, and the probability as a Professional that your engagement will be successful, and as a Business, that you will get what you expected is almost assured. Skimp on this step and both parties will be discouraged.
Clearly defined deliverables are agreed expectations as to what, how and when the Professional will provide assistance to the Business. “We need a business plan” sounds good, but it leaves a lot opportunity for interpretation. “We need a business plan that will be used for raising X amount of venture capital, that contains detailed descriptions of the technology, markets, and an in depth study of the competing companies and alternative technologies in pdf and Power Point format by the 30h of next month” …. Begins to more clearly define the scope of the project. Add to this, the Business will provide information on the technology and potential markets, the Professional will provide an analysis of the fiscal feasibility, begins to define the roles and responsibilities of both parties. Parties agree to conference every Tuesday and Thursday morning at 9 a.m. PST to review the progress, now has set a review cycle. Draft of the plan to be delivered on the 21st for review and final by the 30th, sets the final deliverable dates. The more you can break the project down into unique segments, the better the understanding and the expectations on both sides.
You can download a generic form here
Portions in RED must be changed, the rest can be modified as necessary.
Nobody likes contracts. Let’s face it; we’re all professionals, right? Wrong. Contracts are a very clear and concise way of communicating an agreement. More than that, it survives one or both parties. In rapidly changing businesses environments, the party you first started working with may not be the one you are working with at the finish of the assignment. A contract also defines the how and when payment will be made and how both parties agree to resolve any differences. The Deliverables you created in Number 3 above, must be in the contract. This is a legal binding contract. Rules very from state to state, the example below is for information purposes only. Whenever you deal with a legally binding document, it is wise to have it reviewed by an attorney.
You can download a generic form here
Portions in RED must be changed, the rest can be modified as necessary.
“We talk all the time. Why do I need a status report?” I can’t tell you the number of times I’ve heard that. Usually just prior to “Why aren’t they paying me!” or “I’m not going to pay that so-and-so!” Regular written status reports are the best tool both parties can have for making sure the project is always on the right track and expectations are being met. Depending upon the project, these should always be no less than weekly. You don’t have to “CC” the world, just the key players. Do this and problems will be resolved long before they get out of control.
Businesses - please pay your Professional on time. Professionals - please bill your client on time and in a manner that is clear and easy to understand. Professionals, it is wise to understand your client’s AP – (Accounts Payable) process up front. If there is a process by which invoices need to be submitted for approval, learn it up front. Nothing rubs accountants the wrong way, like rushed special checks cut late on a Friday before a long weekend. Two guesses where you’re next invoice will wind up. If they pay once a month, be sure your invoice is submitted with plenty of time to get through their system. This is your responsibility.
Businesses, pay your Professional. They have bills to pay just like you. Discuss with your Professional up front what your payment process entails. This avoids any unpleasant conversations. If you disagree with an invoice, don’t sit on it and hope it will go away. Immediately contact the Professional and resolve the issue. If they did the work you asked them to (which should be clearly defined in steps 1, 3, 4, and 5) this should be a no brainer. It is not uncommon for Professionals to require an upfront retainer. Not all Businesses are as conscientious, honest, and quick to pay as you are. Respect this if it is requested. If you don’t pay them, don’t be surprised if they don’t do anymore more work on your project.
Final note, the terms and conditions of payment on the Invoice, should match those agreed upon in the Contract.
You can download a generic form here
Portions in RED must be changed; the rest can be modified as necessary.
At an Alumni meeting of Marquette and Santa Clara Universities, Robin Selden, SVP of Marketing for Dolby made this statement, “Peer review is your best avenue to credibility.” That sums it up. Part of the advantage of The Biz ConneXion is that we encourage Businesses to rate the performance of the Professionals they have worked with. This helps to give other Businesses an idea of a professional’s ability and skills and how they perform. The better the rating, the higher the perceived credibility. This is not a guarantee, but one of many ways of qualify and select the right Professional for the job. No one is perfect. 5 stars does not mean the person was perfect. It should indicate that you would highly recommend them to another Business.
This is purely a self regulating function. It is up to the Professional to make sure the Business does in fact leave a rating. It is voluntary that they do so. It is therefore in the best interest of the Professional that they to do the best job they can for their clients. We do not monitor, nor validate the ratings. Should we feel that they are being abused we may at our discretion remove, but not change a rating. We would only do this after proof that the Business and the Professional have tried to resolve any differences. We may also ask for validation that a Professional actually worked for and was paid by a Business for their services.
Please be honest and fair in your ratings.
