Bold Prediction: If you listen to our Podcast on what Chris Sloan has to say about contracts, you will never look at another legal document the same way again!
We’d like to introduce you to Chris Sloan, a business law attorney with Baker Donelson who recently sat down with Brannon to discuss contract law. Baker Donelson is one of the largest 100 law firms in the U.S. with over 730 lawyers on their team. Chris helps many early stage, high growth businesses with business planning and formation, venture capital funding, drafting and negotiating vendor and customer agreements, strategic contract negotiations, mergers and acquisitions, intellectual property protection and other general business law and intellectual property law issues. He is a master mentor and board member of the Nashville Entrepreneur Center.
Chris helps his clients anywhere from Idea to IPO, which means a lot of his work is helping with contracts. Chris and Brannon met recently at an Entrepreneurs’ Organization (EO) event and Brannon became extremely curious about Chris’s philosophy on contracts; which is very much aligned with Poe Group Advisors’ experience in helping clients with the purchase and sale of CPA firms.
His approach to contracts?
“When you are selling something to a customer, you really should think of it (the contract) as part of your marketing because it will impact your sales cycle. In other words, a concise contract can save you time, money and frustration on both sides of the agreement without sacrificing legal protection.”
Chris has some general guidelines he and his team follow for an effective contract:
- It’s a science not an art
- Goals for the contract should be simplicity, accuracy and clarity
- Jargon should be minimal
- Contracts should be shorter rather than longer
Chris also has some excellent advice on how to choose the right lawyer for your business. To listen to Chris further explain his approach to contracts and hear some of his clients’ major successes due to contract simplifying please listen in full here:
Here’s what you will learn:
2:04: Getting to know Chis and his background a little better.
3:18: Chris’s approach to contracts
6:10: An explanation of a good customer contract
8:34: Misconceptions of the legal protections provided by traditional contracts
12:40: A success story of a client with a two-page contract
16:50: When simple might not be possible
18:38: Lawyer shopping advice
21:43: Entrepreneurs Organization (EO)
23:41: A Book recommendation
24:22: Some Lawyer Jokes
25:40: How to get in touch with Chris Sloan
If you’d like to learn more about how simple contracts can add clarity and accuracy to your business relationships, listen now!
And…if you’d like to learn more about how Poe Group Advisors simplifies the purchase and sale of a CPA practice, check out the video about our process – The Seamless Succession™.