Use A Freelance Service Contract To Generate Revenue
A good freelance service contract is central to any creative professional building a service business or agency. Freelancers use a freelance service contract to set up a good relationship with their clients and to ensure that things go as closely according to plan as possible. They can also help freelancers make money.
How Can A Freelance Service Contract Help You Generate Revenue?
People tend to see legal services as something that cost money, but that don’t make you money. That may be true for some things, but for others, legal services can have a direct impact on your business’ bottom line. A freelance service contract is one example of the latter and can become a valuable tool in building a sustainable business. Here’s how:
- They ensure timely payment. Every freelancer knows that getting paid on time can be tough. Making payment terms clear and easily-understood helps to ensure timely payment. A good freelance service contract will discuss when payment is due, how much, what happens if it is not made and what would prevent payment from occurring. If everyone clearly understands their payment obligations, there is a greater chance of timely payment.
- They help to avoid client disputes. Client disputes happen to freelancers for a variety of reasons, but one of the core reasons can often be mismatched expectations. By putting things in writing and providing procedures outlining how everybody will work together, freelancers and clients can work together with less chance of a dispute. Even disputes in which you have the upper hand can prove costly as they distract from the day-to-day operation of a business.
- They provide help in a dispute. A good freelance service contract can provide help in a dispute by including (a) an attorney fees clauses; and/or (b) withholding license to any copyrights or other IP generated during the job. Either of these methods (and others) – when used appropriately – can give a freelancer leverage should an actual dispute arise (even with companies that are larger and have more financial resources at their disposal).
There is no such thing as a one-size-fits-all freelance service contract or even a freelance service contract template that will suffice in all situations. If you are a freelancer and need help getting started on a freelance service contract, it might just be more accessible than you think.
Learn More: We can help structure, prepare, and draft your freelance service contract. It’s easy to start and we can schedule a phone call to discuss any questions you have.