Get it in writing.
If I could give influencers and other content creators just one piece of advice, that would be it.
Every deal needs to be in writing.
Make no mistake. If you are creating content and want to get paid for your work, you my dear are running a business.
This is true whether you are working with an established company or with the gal next door. Get it in writing.
Emails get lost. People forget. People lie.
Yes, people lie. Even people you know well can lie when money is on the line. Especially when money is on the line.
If you want your business to be taken seriously, and to avoid being taken advantage of, you need to use contracts in your business.
Contracts are like a roadmap to the business relationship, a preemptive list to the questions that should be answered before you enter into a business relationship.
For example, if you are working with a brand, you need to know how much you will get paid, when you will be paid, when the work is due, and if you can use the content you create again in the future.
Invest in a good lawyer to draft template contracts to use in your business, or to review complicated contracts.
Here are 5 important things to consider when reviewing a contract.
Names of the parties
It’s a wise move, and a topic for another blog post, to set up a business entity like a LLC to operate your business in order to limit your personal liability for business debts and lawsuits.
If you have set up a business entity like a LLC to operate your business, make sure the LLC is listed as the contracting party and not you individually. For example, for The Law Mother LLC, I would sign “The Law Mother LLC, by Siobhan Fitzpatrick, Member.”
Why is this important? If you just sign in your individually capacity, you’ve lost all of the liability protection of your LLC.
On the same note, make sure the name of the party you are contracting with is correct too.
Description of services and deliverables
The contract should clearly state what you are expected to deliver and when. This will include an agreed number of posts on the agreed platforms according to a delivery schedule specified by the brand/advertiser.
Brands and advertisers may also want to pre-approve content and have guidelines to follow when creating content. For example, specific colors and fonts to use.
Don’t be afraid to negotiate on payment terms. And I’m not just talking about the dollar amount (but don’t be afraid to push back on that too).
For example, many brands pay on a 90 day cycle (net 90). Three months is a long time to wait to get paid. Ask for a shorter cycle like net 30.
If you are receiving payment in the form of free products, discounts, or other perks, make sure these are spelled out to in the contract
An exclusivity clause would prevent you from taking projects from competing brands for a specific period of time, usually a year. If you agree to an exclusivity clause, take the value of potential lost business into account when negotiating your fee.
Ownership of the content
Who owns what you create is a critical term in any content creator’s contract. If it’s something you want to use in the future, make sure you don’t inadvertently sign away your rights.
Terms like “made for hire” or “assignment” indicate that you are giving away your ability to use what you create for your own purpose.
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Copyright © 2022 by Siobhan Fitzpatrick. All Rights Reserved.Tags: Contracts, Influencers
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