Handle every business transaction formally no matter who’s involved

Transaction is a business term that could mean different things – depending on what it is being used for/as. This article will focus on transaction that involves business agreement or rendering of services, as entrepreneurs.
An entrepreneur is a person who believes in a venture (whether people see or do not see anything good in that same venture) and takes a decisive action to try his/her skills for breakthrough – bearing the risks to fail.
A business is an organisation or enterprise that has the capacity to render services, sell products, make profits and enlarge (as required) – under a reasonable managerial leadership.
At this point, it should be stated that business transaction can occur between an entrepreneur (a business owner) and some relations: it could be between the business owner and some individuals
that he/she respects so much; transaction could be between business owners and (entirely) new clients – that could lead to a robust clientele.
However, some things must be noted when (as a business or business owner) you are entering into any ‘business transaction’ with whomever.
What to note at initial stage of every business transaction
By default, every would be client will always present needs of services in a way that will be profitable (to him/her) – in terms of price reduction and rendering of qualitative services.business1
In view of this, when you will be presenting your services (to be rendered) you must not agree to any price that will be disadvantageous to your business: you, however, need to ensure modesty
in your charges. Your charges must be competitive and at the same time, affordable.
Whoever needs your service but will not agree to pay your meager charges should not be considered based on
emotions. It is better to work out of such transaction than to accept it and not be able to offer quality services.
In the word of Hencry Cloud:
When we fail to end
things well, we are destined to repeat the mistakes that keep us from moving
on. We choose the same kind of dysfunctional people or demoralising job again. Not
learning our lessons and proactively dealing with them, we make the same
business or personal mistakes over and over. Learning how to do an ending well
and how to metabolise the experience allows us to move beyond patterns of
behavior that may have tripped us up in the past. We do not have to keep
repeating the same patterns.[1]
You do not allow any peasant offer to lock you up (for years), this is because once you agree to render a service at any lowest cost – the client has the advantage(s) to hold you accountable
(provided you cannot complete the job due to lack of funds).
As a matter of fact, most people are crook (please mind that word – not all persons are crook) – looking for any avenue to entangle you into rendering high cost services at your disadvantages to their own advantages.
Another thing is for you to be able to define your terms of engagement. You will realise that (if your engagement is not defined) many people will start to demand for more services that their charges cannot afford.
To avoid this trap, you have to define your terms of service. List the things that you will do for the person, business or organisation – based on the charges you are giving, and then, ensure that you both have copies of the listed services to be rendered (perhaps, with attestations too).
While the services are ongoing
This is another important stage of any business transaction. It can determine whether you will complete the services you have started or not: it could determine if the business you are rendering service(s) to would form part of your clientele or not.
Some people can introduce additional service(s) that are not part of your initial agreement. You must be able to review your charges if it would complete the project or not.
Once you realise an imbalance in the initial charges, it will be your interest to increase charges. You must not, however, advice your client to drop the add-on services. Rather, advice the client on how to implement them.
While the services are ongoing, you must show to the client that you value his/her opinions, and it is your right to reject mediocrity suggestions (from client) – bearing in mind your business reputations.
Conclusion of the whole matter
It is advisable that you send and receive letters of acceptance – detailing your terms of service, including charges on any business transaction that you embark on.
This will avoid a situation in which a client will start to harass you on the claim that you do not render the services for which he/she has paid you.
As you widen your client base, there is (also) the need to widen your knowledge about business environment. Learning these things will give you leverage, either now or later.


[1]
Henry, Cloud, Necessary Endings: The Employees, Businesses, and Relationships that all of us have to give up in order to move forward, Pgs18-19.
Thanks for reading this.

Please follow and like us:
439

22 thoughts on “Handle every business transaction formally no matter who’s involved

  1. Needed to send you this little bit of observation so as to say thank you once again about the stunning ideas you’ve discussed above. It is certainly particularly open-handed with people like you in giving openly what exactly numerous people would’ve made available for an ebook in making some profit on their own, particularly now that you might have done it in the event you wanted. The strategies likewise worked like the easy way to recognize that many people have a similar fervor really like my very own to know more with regard to this issue. I think there are thousands of more enjoyable sessions in the future for people who check out your website.

  2. I truly wanted to type a word so as to say thanks to you for the nice tactics you are posting at this website. My time consuming internet research has at the end of the day been recognized with brilliant knowledge to exchange with my family. I ‘d point out that most of us visitors actually are quite fortunate to be in a very good website with very many awesome professionals with beneficial tricks. I feel really happy to have seen your entire website and look forward to so many more awesome minutes reading here. Thank you once again for everything.

  3. Thank you so much for giving everyone an extraordinarily wonderful opportunity to check tips from this blog. It’s usually so superb and as well , jam-packed with amusement for me personally and my office acquaintances to search your site at least thrice in 7 days to find out the fresh tips you will have. And of course, I’m usually happy with all the dazzling information you give. Some two ideas on this page are clearly the most impressive we have ever had.

  4. I and also my pals were checking out the nice helpful hints on your website and so all of a sudden I had an awful feeling I never thanked the site owner for them. These people were for this reason joyful to see all of them and now have really been loving those things. Appreciate your turning out to be simply helpful and then for utilizing this form of amazing useful guides millions of individuals are really desirous to be informed on. My sincere apologies for not saying thanks to you sooner.

  5. I happen to be writing to make you know of the magnificent discovery my friend’s child undergone viewing your webblog. She learned lots of details, including what it’s like to have an ideal teaching mood to let a number of people quite simply know a number of tricky things. You actually did more than people’s expected results. Thanks for rendering those beneficial, healthy, educational and fun tips on this topic to Sandra.

  6. My husband and i have been absolutely satisfied Louis could round up his investigation using the ideas he acquired out of your site. It’s not at all simplistic to simply be giving out facts which usually some other people might have been making money from. We really figure out we now have the website owner to give thanks to for that. Most of the illustrations you’ve made, the easy blog navigation, the friendships you will aid to engender – it’s got many great, and it is helping our son and the family reason why this issue is enjoyable, and that’s seriously essential. Thanks for the whole thing!

  7. Thank you for each of your labor on this web page. My niece loves working on investigation and it’s really simple to grasp why. My partner and i learn all concerning the dynamic tactic you produce priceless secrets on your web site and even welcome response from other individuals on the theme and our daughter is now understanding a whole lot. Take pleasure in the remaining portion of the year. You are always conducting a first class job.

  8. I’m also commenting to make you be aware of what a beneficial encounter my wife’s girl developed using your blog. She picked up several pieces, not to mention what it is like to have an awesome giving mood to have the others clearly know just exactly a number of advanced matters. You really surpassed our own expectations. Many thanks for providing these essential, safe, edifying and even fun tips about that topic to Gloria.

  9. I as well as my friends have already been looking through the nice techniques from your web page then quickly came up with a horrible feeling I never thanked the web blog owner for those strategies. The men appeared to be certainly excited to see all of them and already have definitely been loving those things. Appreciate your really being well thoughtful as well as for deciding upon this kind of great useful guides millions of individuals are really desperate to learn about. My very own honest apologies for not expressing appreciation to earlier.

  10. I simply wished to thank you very much again. I do not know what I might have gone through in the absence of the entire points shown by you about that situation. Certainly was an absolute distressing setting in my circumstances, but viewing this well-written technique you managed it took me to jump for delight. I am just happy for the advice as well as trust you know what an amazing job you’re providing training people today using your web page. More than likely you haven’t encountered any of us.

  11. I needed to put you that very little word in order to say thanks a lot the moment again for those incredible solutions you’ve shared here. This has been quite remarkably open-handed with people like you to present easily just what many individuals could have sold as an ebook to earn some money for themselves, specifically given that you might have done it if you ever desired. These points in addition acted to be the great way to recognize that the rest have similar eagerness the same as my very own to know great deal more related to this condition. I think there are lots of more enjoyable periods ahead for many who scan your website.

  12. I抦 impressed, I have to say. Really not often do I encounter a weblog that抯 each educative and entertaining, and let me tell you, you could have hit the nail on the head. Your idea is outstanding; the difficulty is something that not sufficient people are speaking intelligently about. I am very happy that I stumbled across this in my search for one thing regarding this.

  13. I precisely had to appreciate you yet again. I’m not certain what I might have used without the type of tips and hints shown by you regarding my area. It was before an absolute difficult circumstance for me, however , finding out your professional manner you handled the issue forced me to cry for contentment. Extremely happier for this service and wish you realize what a great job that you are getting into teaching others with the aid of your webpage. I am sure you’ve never come across any of us.

  14. I wish to express my love for your kindness for men who absolutely need help with the concern. Your personal dedication to passing the message throughout ended up being exceedingly functional and have consistently encouraged men and women like me to achieve their dreams. The important tutorial signifies a whole lot a person like me and even more to my mates. Thanks a lot; from everyone of us.

  15. I needed to send you a very small observation so as to say thanks a lot again for your amazing things you have shown on this page. This is certainly seriously open-handed with people like you to provide without restraint all most of us would’ve advertised as an e book to help make some dough for themselves, chiefly considering the fact that you might have tried it in the event you desired. The suggestions also served like the easy way to be certain that other people online have the identical fervor like my personal own to learn whole lot more with reference to this matter. Certainly there are thousands of more fun times ahead for folks who look over your blog post.

Leave a Reply