Long Term Contracts

When to sign a long-term contract, and when not to? Society enters into long-term contracts all the time.  But we rarely recognize that it could very easily span a period of time where we might change our position. Yet, somehow, we don't feel that we are somehow being taken advantage of by having a long-term contract. In this episode we discuss: Ways you can spot when a long-term contract is appropriate. What is the deliverable and what is my projected return on my investment? If you're considering a long-term contract, verify if there has been a history of non-delivery of the service. How important are the reasons why the provider wants to have a long-term contract.   Allison Bio: Allison C. Williams, Esq., is the Founder and Owner of the Williams Law Group, LLC, with offices in Short Hills and Freehold, New Jersey. She is a Fellow of the American Academy of Matrimonial Lawyers, is Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney, and is the first attorney in New Jersey to become Board-Certified by the National Board of Trial Advocacy in the field of Family Law. Ms. Williams is an accomplished businesswoman. In 2017, the Williams Law Group won the LawFirm500 award, ranking 14th of the fastest-growing law firms in the nation, as Ms. Williams grew the firm by 581% in three years. Ms. Williams won the Silver Stevie Award for Female Entrepreneur of the Year in 2017. In 2018, Ms. Williams was voted as NJBIZ’s Top 50 Women in Business and was designated one of the Top 25 Leading Women Entrepreneurs and Business Owners. In 2019, Ms. Williams won the Seminole 100 Award for founding one of the fastest-growing companies among graduates of Florida State University. In 2018, Ms. Williams created Law Firm Mentor, a business coaching service for lawyers. She helps solo and small law firm attorneys grow their business revenues, crush chaos in business and make more money. Through multi-day intensive business retreats, group and one-to-one coaching, and strategic planning sessions, Ms. Williams advises lawyers on all aspects of creating, sustaining, and scaling a law firm business – and specifically, she teaches them the core foundational principles of marketing, sales, personnel management, communications, and money management in law firms.   Contact Info: https://www.lawfirmmentor.net/speak-with-a-growth-strategist   My favorite excerpt from the episode: TIME: 00:22:40 (34 Seconds)  So once you get to a year or longer and you put the categorization of the contract into that long-term status, the question is why? Well, if a company provides you with a glossed-over kind of half-assed reasoning as to why they want a long-term contract, oh, we think it's in your best interest, or we can't really start to get any results until seven or eight months in. That is going to be a red flag, right? Because that company is really giving you their justification, kind of turned around for you.