Contracts and Finance

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How to Negotiate a Consulting Contract: 5 Steps

By MBO Partners

In any business agreement, it is highly recommended to use a well-written contract, and the terms of the contract are often the result of negotiation between the parties involved. Contracts provide clarity, establish a relationship, and offer protection to all parties involved. For these reasons, many independent professionals wisely insist on using written contracts for…

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How to Write a Consulting Contract: 6 Best Practices

By MBO Partners

Writing contracts is an important part of your business as an independent professional. A contract defines the work you agree to do for a client, and it also provides you with legal protection.  Contract negotiation can be an intimidating part of starting a new project but setting up this legal framework will help protect you…

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Top 5 Common Contract Mistakes to Avoid

By MBO Partners

Contracts are an important part of starting a new project. They provide legal protection, discuss services to be performed, and include payment terms and conditions. If you’re new to the process, you may find that drafting a contract is a complicated task, requiring specific key terms, provisions, legal obligations, and ultimately, client agreement.  As a…

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When and How Independent Professionals Should Offer Discounts

By MBO Partners

If you’re looking for a way to boost your business, you may have considered offering a discount on your services. After all, what’s more enticing to customers than a good sale?  But when it comes down to it, is discounting really a smart way to bring in more clients? Unfortunately, unless you are a large,…

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Setting a Budget for Small Busines: Saving vs Spending

By MBO Partners

As you pursue your career as an independent professional, you’ll quickly discover that your success is tied to the business decisions you make. What you choose to do with your money is an important part of that challenge. Which purchases are smart investments? Which are simply a waste of money? Here are three areas where…

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What is a Consulting SOW (Scope of Work): Why You Need One

By MBO Partners

What is a Consulting SOW (Scope of Work)? A Scope of Work (SOW) is a document that defines how a project will be executed through specific tasks, activities, deliverables, and timelines. A SOW also provides important legal protections for both you and your client. While many people associate SOWs with large-company projects, they are equally…

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4 Self Employed Tax Advantages

By Ralph Carnicer

Being self-employed may not always be simple, but it definitely has its rewards. Doing what you love and having the flexibility that comes with being your own boss can certainly make the challenges worthwhile. In some cases, being self-employed can also have some less obvious tax advantages. Making sure you plan according to the tax…

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What to Include in a Consultant Scope of Work

By MBO Partners

Learn the critical components to creating a Scope of Work (SOW) document to properly plan and manage your projects.

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5 Ways a Small Business Go Green and Save Money

By MBO Partners

It’s an unfortunate truth that many environmentally friendly products and services cost more than their less-green counterparts. But going green doesn’t always mean you have to spend more. In fact, independent contractors can actually save a surprising amount of money by adopting a green attitude towards daily business tasks. We’ve compiled a list of five quick…

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3 Ways to Build Small Business Credit

By MBO Partners

Build business credit for your small business by following these three essential steps.

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