Although it is a book primarily about building a business, Rework (by Fried and Heinemeier Hansson, the founders of 37 Signals), has some tips which are equally applicable to doing deals.
Focus on diving in
When starting a business relationship, they say: Your priorities are out of whack if you’re thinking about getting out before you even dive in. Would you go into a relationship planning the breakup? Would you write the prenup on a first date?
I say: Contracts are about close business relationships. Check your contract content spends more time describing how you will work together and resolve issues, and less on how you can bring court proceedings or end the contract.
Focus on commitment
When it comes to projects, they say: You need a commitment strategy, not an exit strategy. You should be thinking about how to make your project grow and succeed, not how you’re going to jump ship.
I say: Agreed! Contracts are about commitment. They should clearly state what the parties’ measures for success are. Both of you should what success means for the project, aka what its its aims and objectives are.
Focus on customers
When it comes to building a business, they say: When you build a company with the intention of [selling out], you emphasize the wrong things. Instead of focusing on getting customers to love you, you worry about who’s going to buy you.
I say: Instead of focusing on ensuring you ‘win’ at all costs, focus on trust, commitment, fairness, balance and equity. Think longer-term.
Focus on clarity
When it comes to hiring, they say: If you are trying to… fill a position, hire the best writer… clear writing is a sign of clear thinking. Great writers know how to communicate. They make things easy to understand. They put themselves in someone else’s shoes. They know what to omit.
I say: When it comes to writing deals, use your best writer. Their ease of communication will build trust, simplify the deal and show commitment to putting yourselves in the shoes of your client or supplier.
What should you do?
Strategically, think long-term for your customers, business and projects.
Tactically, use your clearest communicators to record a simpler deal to benefit you and your customers.