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Many business owners and entrepreneurs get confused about what a contract is, and isn’t. Imagine for a moment you’re in the KoffeeKlatch kitchen. I ask you to make me a cup of coffee. This isn’t a contract, it’s a favour. You’re not obligated to make me a cup of coffee.
Imagine that KoffeeKlatch isn’t a vibrant business community serving smart entrepreneurs, but a coffee shop. I walk in and give you £5 and ask for a coffee. If you take the money I’m now entitled to a cup of coffee.
This infographic explains simply and effectively what a contract is, and how it works.