Whaddya need a Business Contract?

A contract is an agreement between two parties. It can be a bilateral or unilateral contract, and the end result is execution of contract (completion). There are 5 essential elements required to support a valid contract:

1. Agreement. This includes offer and acceptance communicated to the party involved in the preliminary negotiation.
2. Consideration. Something of value or bargained for in exchange for a contract.
   The value does not have to be equal on both sides.
3. Capacity. Must be at legal ability to accept or create a contract. If one party is no capacity to deal with the contract, the contract is void.
4. Legal Purpose. Must have a legal purpose enforce the contract.
5. Genuine Consent. Genuine consent does not have to be shown by in writing except for contracts covered by the Statute of Frauds (and those must always be in writing).

To execute the contract from to start to finish, these elements will help complete the tasks assigned for both parties. Without any of these elements present in contract, it will be easily void.

FYI. Always consult a professional when you need to create a business contract, to make sure all important matters are covered.

Checklist - Where's Your Online Business Headed?

I would like to share this article that I got from SCORE.org website looking for business documents as I need one for my online business. I hope this help you build your business.

Setting realistic short-term marketing goals with help you clarify your long-range objectives. The list of questions will help you define the future of your online business.

I. What are your Internet marketing goals for the next year and the next three to five years in these areas?

- Dollar Sales
- Unit Sales
- Profits
- Market share
- Markets to enter
- Customer-base expansion

II. What are your six biggest marketing challenges, in order of urgency? (e.g., consumer trends, technology challenges, customer to mix, competition, staffing, margins, media, etc.)

1. ______________________________________________________________

2. ______________________________________________________________

3. ______________________________________________________________

4. ______________________________________________________________

5. ______________________________________________________________

6. ______________________________________________________________


III. What major threats and opportunities will your company face in the next three to five years, in these areas?

- Products and services
- Staffing
- Customer attitudes and trends
- General business conditions
- Competition
- Changes in technology

IV. What new competition do you expect within the next three to five years?
(Consider technological developments and product/service innovations, as well as alliances, mergers and acquisitions.)
______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

V. Which competitors do you expect will decline or disappear within the next year? Three to five years? Why?

1. ______________________________________________________________

2. ______________________________________________________________

3. ______________________________________________________________


VI. What proportion of your online sales a year from now will come from new products or services? _________________ %

From new market? ____________________ %

Sales from new products? ____________________ %

What about three years from now? ____________________ %

From new market? ____________________ %

Microsoft And Yahoo Talks Back On

We’ve got multiple sources at both Yahoo and Microsoft telling us that official talks are back on between the two companies. But we’re hearing something different than CNET - the talks are about a full buyout again, not a sweetened search-only deal.

The information we have is thin, but what one source is saying that Microsoft is talking a price lower than the $33 they were offering when the talks disintegrated in May. Given Yahoo’s recent share price (it’s below $21 today), and the fact that just about everyone other than their board and top execs are publicly screaming for a deal, I’m not surprised.

Source: TechCrunch

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