You Can't Manage What You Don't Measure

Balancing Protection and Simplicity in Your Vendor Contracts

Are you a small business owner unsure about contracts, roles, and expectations with your clients? In this episode of Rooted in Revenue, we dive into the importance of having clear agreements to protect you and your clients. As vendors, we understand the challenges of navigating these relationships and the potential pitfalls of not having a solid foundation. We discuss what clients should expect from you, how to demonstrate your value, and the key elements to include in your contracts. Whether you're a solopreneur or running a small agency, having well-defined contracts and expectations is crucial for a successful business partnership. Join us as we share our experiences and insights on this essential topic and learn how to set yourself and your clients up for a mutually beneficial working relationship.

Here are five key takeaways from this episode:

• Find out what a vendor's offboarding process is when you're done working with them, including how long they keep your information and how you will receive your deliverables. (Lany Sullivan)
• Delete access credentials and accessibility immediately when a client or vendor relationship ends to protect both parties. (Susan Finch and Lany Sullivan)
• Vendor contracts don't need to be lengthy; they should be simple, cover worst-case and best-case scenarios, and be easy for clients to understand. (Susan Finch)
• As a vendor, ensure your services and contracts are comprehensive and accessible to make clients feel good about working with you. (Lany Sullivan)
• Payment processors like Stripe and PayPal tend to side with clients in disputes, so having clear contracts, signatures, and proof of service is crucial for protecting your business. (Lany Sullivan)

Vetting Vendors: The New Shiny Thing Or Vendor is Tempting, But Can Be Costly

Are you entrusting your business to the right vendors? In this episode of Rooted in Revenue, Susan Finch and Lany Sullivan dive deep into the crucial topic of vetting vendors. From graphic designers to accountants, they share eye-opening insights on what to look for and what to avoid. Discover the importance of securing your intellectual property, protecting your sensitive information, and ensuring your vendors have your back in any situation. Susan and Lany also reveal the shocking truth about the security risks posed by many accounting firms. Don't miss their expert advice on how to find reliable vendors who align with your values and prioritize your business's success. Tune in to learn how to safeguard your company and make informed decisions when choosing the people and tools you rely on. Your business deserves the best - start vetting your vendors like a pro today!

Need help vetting a potential vendor - contact Susan

Top Tips from this episode:

• Don't respond to cold call emails or messages from vendors you don't know. Instead, ask for referrals from trusted peers and networks. (Susan)
• When considering a vendor, research how long they've been in business, read reviews (especially on Reddit and Quora), and ask for testimonials from their clients. (Lany)
• Request all file formats and a complete brand package from your graphic designer, including vector files, fonts, and color codes. (Susan)
• Ensure that you have the rights to use the fonts in your logo and that you own all the designs created for your business. (Susan)
• Have a contract in place stating that any work created by contractors for your business is your intellectual property. (Lany)
• Ask your accountant or CPA about their security measures, including secure portals, communication methods, and record retention policies. (Lany)
• Choose vendors who have a backup plan and can recommend trusted professionals to take over their tasks if something happens to them. (Susan)
• Align yourself with vendors who have strong relationships with strategic partners and genuinely care about your business's success. (Susan)

How AI and Time Management Converge for Maximum Efficiency

Time management is more critical than ever, especially with the rise of AI tools and virtual assistants. Properly tracking and documenting how you spend your time can lead to significant benefits, from increased productivity to smoother delegation and onboarding. In this episode of Rooted in Revenue, hosts Susan Finch and Debi Davis dive deep into the future of time management and its intersection with AI. They discuss practical strategies for optimizing your time, such as using customized systems, recording detailed process videos, and establishing efficiency baselines. Whether you're a solopreneur or managing a team, this episode will provide valuable insights to help you maximize your most precious resource – time. Tune in now to learn how to stay ahead of the curve in the age of AI-driven productivity.

Links from this episode:

Paymo time management system

Full Series

Susan Finch:

• https://linkedin.com/in/susanmfinch
• https://susanfinch.com

Debi Davis

• https://3dcommunicationsai.com/
• https://www.linkedin.com/company/3d-communications-3d-debi
• https://www.youtube.com/channel/UCFLgktQiDXVOfYd8NydFLlw

Checklist for Real Estate Brokers Before You Leave Your Franchise

Are you a real estate broker on the brink of a major change? Whether you're considering leaving a franchise to establish your brand, or switching franchises, this transition can be both exhilarating and daunting. The key to success lies in meticulous planning and preparation. In this episode, Susan shares her expertise to guide you through the critical steps you need to take before leaping. Susan provides a small portion of a comprehensive checklist to ensure a smooth transition from establishing your unique branding elements to evaluating your current online assets and vendor relationships. It's enough to get you started and slow you down.

Don't let the excitement of change overshadow the importance of a well-executed plan. Tune in now to learn how to confidently navigate this transformative journey and set your brokerage up for long-term success. Special shout-out to the NRBA members.

Need help? Here are some of the services Susan Finch offers.

https://susanfinch.com/services/

The main points of the episode and the checklist for a smooth transition include:

1. Establish branding elements: Choose a unique company name, logo, and domain. Set up associated email accounts.
2. Obtain a new MLS number for your new independent website to display listings. You may have one, but you want to ensure you can change it from being associated with the previous firm and broker.
3. Create a spreadsheet to track current online assets, including websites, social media profiles, and listings on various platforms. Document login information and status (keep, replace, or delete).
4. List team members and their contact information.
5. Evaluate tools in use, their costs, and renewal dates. Determine which tools to keep, replace, or delete.
6. Prepare new templates for presentations, contracts, and getting digital signatures.
7. Assess vendor relationships and inform them of the upcoming change if necessary.
8. Create new marketing materials: business cards, signs, leave-behinds, postcards, and flyers.
9. Collect and save existing client testimonials.
10. Develop an onboarding library for team members, outlining their responsibilities and required documents.

Protect Your Business, Protect Your Clients: Mastering Internal Controls and Security

Are your business's internal controls and security measures up to par? In this final episode of our 6-part series, Lany Sullivan and Susan Finch dive deep into the importance of protecting your clients' information and your own liability. They expose common pitfalls like using sticky notes for passwords or entrusting cash transactions to a single person. Lany and Susan emphasize the critical need for secure password management, digital money trails, and multi-person verification processes. They urge listeners to examine their business infrastructure for potential risks and take responsibility for addressing them. While the process may seem daunting, our hosts reassure you that it's well worth the effort in the long run. Whether you need Lany's expertise in setting up foolproof procedures or Susan's guidance in optimizing what you already have, this episode will leave you motivated to tackle those security challenges head-on.

Catch the full series here:

Prioritize for Profitability: Establishing Foundational Systems for Business Growth

Mastering Growth: 4 Signs You Need a Business Asssessment

Love, Hate, Delegate: Transforming Your Business Through Delegation

Visionaries & Integrators: Navigating the Generalist vs. Specialist Hiring Maze

Building a Sustainable Tech Stack - Do you still use it?