Had my high school English teacher told me that a comma could cost me $5,000,000, I would have paid far more attention! I’m sure that’s what the Oakhurst Dairy company is thinking after it had to settle a dispute over the placement (or misplacement) of a comma.
How many times do we reach verbal agreements or come to terms with another party but never stop to fully document what we’ve agreed to? It happens more often than you think. In fact, I suspect that had Oakhurst Dairy and its drivers accurately documented the true intent of the exemption clause, Oakhurst Dairy could have potentially avoided the $5M mistake.
How do you know if you are doing this well or not? Take this quick assessment:
Add all of your percentages together. The closer you are to zero the greater the likelihood that you are doing an excellent job at documenting your agreements and ensuring all parties are on the same page. The further you are from zero, particularly if you exceed thirty total percent, you might have an issue with how you document your deals.
Some quick and easy tips:
Don’t let something like a comma derail your entire deal.
About the author:
Sure, we could whip up a snappy bio about Brian’s experience as an entrepreneur, business owner, and Fortune 500 executive. While we’re at it, we could go on for an afternoon about his 20 years in marketing and advertising, developing brilliant consumer-engagement strategies for the likes of Google, Amazon, Samsung, Virgin Mobile, Microsoft, and Sony. But knowing Brian, he’d rather we not. Instead, he’d likely ask us to focus on something else — namely, other people ...