Protect Yourself with a Revised Contract

Written by Paul Farahvar, Partner Cuisinier, Farahvar & Benson

If you are like most small business owners, your business involves countless written contracts with vendors, suppliers, service providers and other contractors. You probably also simply review and use the contracts provided by them or dust off one of your old contracts, then cut and paste the information you need to finalize an agreement, throwing in words here and there that you think will protect you.

WRONG. If you do either of the above, you are doing both yourself and your business an immense disservice. More importantly, you may be putting your business, and perhaps yourself, in jeopardy if there is a dispute or an accident which results in litigation.

More often than not, it is when you accept a contract from a third party that the language of the contract drafted is in their best interests and not yours. While you may be negotiating the bottom line on costs or fees, or matters dealing with timeliness or deadlines, the other “small print” issues like liability and attorney’s fees may be largely overlooked. Some of the language in the contract may be exposing you to risks that you simply could not have anticipated. As a result, this potential liability is never communicated to your insurance broker, which in turn leaves you to defend yourself in litigation. And anyone who has been a party to any litigation knows that the cost and time associated with a lawsuit is burdensome.

As to dusting off a previous contract, what most business owners do not realize is that the contract they have been using may be outdated. This can be true whether the contract is from 1975 or 2009. Some of the language in contracts from old vendor agreements, even those used as recent as only two months ago, may be outdated. As a result, you may not be aware of any legal ramifications which could cost you in the event of a dispute. The law is a living, breathing entity that changes frequently over time. Any case that is decided on a contract dispute or an insurance coverage dispute can affect your rights.

If you are unsure of any language within a contract, it is always best to consult an attorney. If you already have an attorney, it is a good idea to have them review and explain the language in your existing agreements. Finally, alert your insurance broker to any items in a contact to ensure that you are covered in the case of a dispute. Better to be safe than sorry.

Paul Farahvar is a partner with Cuisinier, Farahvar & Benson specializing in insurance defense and civil litigation. http://www.cfblaw.net 312-634-0412. paul@cfblaw.net

Media Coverage for Your Event

Written by Amy Brierly, ExtraMile PR

Here’s a question we often hear … What’s the best way to get media coverage to promote our event?  Whatever the event you’re planning, take these steps to simplify the process, focus your efforts and use what limited time you have to get the word out about your upcoming event.

• Identify your audience.  Who are you targeting?  Who needs to know this is happening?  Choose your target media outlets and plan your strategy accordingly.
• Build a timeline.  Nothing fancy – just a roughed out and realistic plan for whom to contact and when.  If your event occurs next month, chances are you’ve already missed the deadline for monthly magazines like Chicago.  Focus your efforts instead on daily, weekly and online media outlets.
• Write up your event information in a conversational tone and in a way that makes it easy for reporters, calendar editors and bloggers to use what you’ve written.  As a would-be attendee, tell me WHY I need to be there.  Will I learn something?  Is this a good networking opportunity?  Are you offering a fun day out for my family?  Does my participation help a cause I care about?  Remember to cover the five basic Ws: who, what, when, where and why.   
  
• Do your research.  Try going online to sites like Metromix.com.  Media outlets have recently made it increasingly easier to submit info or tips via email or websites.  Pay close attention to the ways the media outlets you’re targeting are linking to social media as well.  The oldest media outlets in town are using Facebook and Twitter to communicate with their audiences.

No matter if you’ve worked with media in the past, keep this in mind:  the people who decide if your information will receive media coverage are a lot like you.  Chances are they’re open to new information, but they’re busy people.  Be respectful of their time and try to understand why your event might make sense for their audience.  A little homework will go a long way toward your success.

Telling Your Story Effectively

Whether talking with news reporters or neighbors, any conversation about your business is an opportunity. That said, just having the conversation isn’t enough; what you say and how you say it are important and worth some advanced thought and planning.

Consider that when you talk about your business, you’re telling a story with a beginning, middle and end. The story may follow this pattern: owner identifies community need, owner takes calculated risk, community/owner realizes reward. This is no place for modesty. You took a chance in establishing a business because you believe in it, so tell your story with that sense of confidence. It’s not just good business practice. It’s crucial to communicating your message.

When crafting your story, think in terms of broad strokes and save the fine details for later. You want your listener to walk away from the conversation understanding exactly what you do and why you’re passionate about it. This story is like the classic elevator pitch: make sure you can tell it in about 20 to 25 seconds, while your listener is most attentive. Think of some examples of how you have been successful in case your listener asks follow-up questions.

Your story is more than just a conversation tool. It is the main message about your business and should be woven into all your communications, including your website, press releases, newsletters, etc. It’s fine to repeat yourself across communications. In fact, repetition helps build recognition.