Completing a contract isn't just about getting money in the end. A secret to having truly successful contracts is to form a stable relationship with your contractor in order to ensure future cooperation. A successful contract also means you finished your contract wiser, in a better position, with a firmer relationship with the contractor whose trust you have earned in the process. A couple of the following steps will ensure that each of your future contracts is highly successful.
1. Ensure clear communication
Communication is essential to every step of the process. You need to make sure you are easily available to your contractors and that they are always up to date on the changes and novelties. It's best if you use a platform where you can keep all the important information. That way, the workflow won't be interrupted and everybody will be aware of their due dates and easily reached.
2. Network with everybody
It's important to always aspire to create a network with all your contractors, as well as with your permanent staff. If you earn trust with your contractors, it's more likely they will recommend you to a friend, which means to bring you more clients. In other words, stay in touch with them through LinkedIn or other platforms and ensure future cooperation.
On the other hand, it's also smart to have a good relationship with your permanent staff. You never know when one of them will decide to contract themselves - you want reliable and competent people by your side, one way or another.
3. Be careful with the documents and negotiation
When drawing up a contract, it's highly important all the documents are in order and all the terms and conditions are clear. As many company owners in developed countries have a lot of subcontractors today, it's hard to keep up with all the regulations. This is why in countries like, let's say Australia, company owners often hire contract lawyers from Sydney to make sure everything is documented correctly. Follow their example and always be vigilant about how you negotiate with your potential contractor.
You need to be sure that the contractor isn't feeling forced into the contract for too low a price. In return, you'll get a low-quality service, which won't do good for your business in the long run. Inform yourself on a fair market rate to be able to come to an agreement about the price that will satisfy you both.
4. Improve security and reduce the risks
Even though transparency is a good thing, sometimes it can be dangerous for the company. It could lead to exposing sensitive information. Subcontractors appreciate security, so you need to make sure that sensitive information is only accessible to those who need it for doing their jobs.
For example, if you are using an Excel spreadsheet and allowing access to everybody on an equal level, this could lead to some of the contractors lose their trust in you. So, decide who gets access to what so there are no unpleasant surprises in the future.
5. Be the client you would like to work with
Just think about a client you would hate working with - and make sure you don't turn into that type of client over the course of time. If you like to be praised for your hard work - do the same for your contractor. If you want your time to be appreciated - don't harass the contractor 24/7 whenever you have a question or a suggestion. In other words, treat the subcontractor the way you want to be treated. That's the only way that will ensure future cooperation.
Final comment
Ensuring a long-term relationship with a contractor is a process that starts at the very beginning of the contract. You need to be present, competent and respectful all the way. This is how you'll proceed to have successful business relations with all your contractors and improve your business.
Guest Author
Leila Dorari is an entrepreneur, freelance writer and business-improvement enthusiast from Sydney. Currently, she is consulting companies on various effects different marketing solutions can have on their business. In her spare time you can usually find her window shopping.