Contracts: Tough Lessons Learned

Have you ever gotten yourself into a contract or situation that you needed out of?

Not long ago, I got myself into a situation where I made a big mistake. The frustrating part is, I already knew better. I signed a contract without taking a moment to review it and ended up committing myself to spending WAY too much money on something I wasn’t even sure I wanted. I was so disappointed in myself! How could I let this happen?!… can you hear me spiraling? I could cry and cry and cry, or I could take steps to remedy my big mistake. I did that, and wrote these steps so you do not have to learn this lesson the hard way either.

Check in

Breathe, and assess the situation. Review the contract you have agreed to or the situation you are in. Do you need out of the contract/situation completely? Or do you need to re-negotiate? Some contracts have a cancellation clause, or a “cooling off period,” which essentially provides you with your way out. If not, have a lawyer review to see what your possible next steps are.

Support System

Call your Mom! Discuss your predicament and get a dose of that unconditional love. Talk to your friends and family that may have been in the situation or can advise you on what to do specific to your situation. Lean on the experts in your inner circle, lawyers, or friends who specialize in contracts. (Or whatever you are up against.) They will be able to point you in the right direction and their advice is usually free! OR exchangeable for a case of beer.

Don’t give up

The disappointment and fear of the unknown can be all consuming. Don’t let it get the best of you or your relationships. Your friends and family are just trying to help, even when it comes across as attacking or condescending. You know you’ve learned the lesson, but just let them have their moment on their soap box, because after all, they are on your team and you can use all the help you can right now.

Going forward

Make a rule so that you can easily explain to others when you feel pressured into a similar situation. A friend of mine would always get sucked into the trap of the door-to-door salesman, until she made a rule- that she wouldn’t give money or sign up for anything at the door. Implement a rule that fits to your weakness. Perhaps a 24 hour rule? When reviewing contracts, take the day and night to think things over before signing. When approached again, you can simply state that you don’t sign contracts on the spot, and you will need 24 hours to review. Most people will respect your position and give you the time to review.

You will get through this! Believe it! All lessons don’t have to be learned the hard way, so implement rules in advance, so you’re never caught in this situation.

-Yours in the Hustle-


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