Someone Has To Read The Contracts

I was pitched a business opportunity recently.
The person had nothing written down.
Nothing.

He was highly intelligent
and he seemed to know his industry
but I suspect he couldn’t read or write very well.

That was verified when I sent him
a text heavy email
and he immediately called me
to talk about it,
not directly addressing
some of the make-or-break information in that email.

I realized
if I went into business with him,
every detailed interaction with him
would be by voice.

But more critically,
I would be the business partner
reading EVERY business contract
our new company ever encountered or produced.

Yes, our lawyer would read
those contracts also
but mine would be
the second pair of eyes
scanning them.

Supply contracts, employment contracts,
incorporation papers,
tax returns,
all of that would be my responsibility.

That IS a factor.
I don’t like reading contracts.
He wouldn’t be the ideal business partner
for me.

Other people do like reading contracts.
He might be a great business partner
for them.

54% of American Adults
can’t read books crafted
for Grade Six Students
(for 11 year olds).

That adult isn’t reading contracts.

They are trusting other people
at their words.
They are relying on
their often extremely busy lawyer
to catch
every tricksy clause or word in the contract.

If this perspective business partner
has been successful thus far,
they are likely great at reading people.
That’s a valuable skill to have.

But their inability to read
means they will never be the person
who looks at the contracts.

Know the literacy level
of the people you’re doing business with.
Think about how
that will impact YOUR role.