Thursday, March 15, 2007

When starting a business try to gather as much information from your competitors as possible. Don't reinvent the wheel if you don't have to do so.

QUESTION.
I'm starting a credit repair company and I need to find someone to help me with my contracts. I already have a contract typed up, but I'm not sure of the legal stuff. Any suggestions?

ANSWER.
When you start a new business you are supposed to research your industry and your market so you can prepare a killer business plan to guide your moves in business. Your market includes your competitors and how they do business. Have you written your business plan yet? It doesn't sound like it. If you have researched your competitors, then you would have gotten some of their contracts. Those contracts would show you how they do things, AND they would should you how to consider doing things yourself. Much of starting a business is not about reinventing the wheel. Get their contracts and use them. If you can't find someone to give you theirs just for the asking, then pose as a customer to get them. I hope my comments are helpful to you. Good luck! Regards, -Jeff

Jeff Lippincott
SCORE.org Counselor
Princeton, NJ
scoreprinceton @ aol.com
www.scoreprinceton.org
www.jlippin.com

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