FARHAN AKHTAR
B.A. (V.S) OMSP
2K22/OM/26
SEM :- V
ENTREPRENEURSHIP
TOPIC :-
DEVELOPMENT PRELIMINARY CONTRACTS WITH
VENDORS, SUPPLIERS, BANKERS,
PRINCIPAL CUSTOMERS
PRESENTING TO :-
D. GNYANESHWAR
Preliminary Contracts: The
Building Blocks
Laying the groundwork for successful partnerships, preliminary contracts
establish the foundation for future collaborations between vendors,
suppliers, bankers, and principal customers. These agreements set the
stage for a harmonious and productive working relationship.
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Why Preliminary Contracts
Matter
1 Clarity 2 Risk Mitigation
Preliminary contracts They help identify and
provide a clear address potential issues or
understanding of roles, conflicts before they
responsibilities, and escalate, ensuring a
expectations between all smoother collaboration.
parties.
3 Relationship Building
Negotiating preliminary contracts fosters trust and open
communication, laying the groundwork for long-term
partnerships.
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Key Vendor Agreements
Product Specifications Pricing and Payment Terms Exclusivity and IP Rights
Clearly define the goods or services to Establish mutually agreeable pricing Outline any exclusivity agreements
be provided, including quality structures and payment schedules to and protect intellectual property to
standards and delivery timelines. ensure financial stability. maintain a competitive advantage.
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Negotiating with Suppliers
Research the Market
Thoroughly understand pricing, terms, and industry
standards to negotiate from a position of strength.
Communicate Clearly
Articulate your needs and concerns openly, and be willing
to compromise to reach a mutually beneficial agreement.
Prioritize Long-Term Value
Focus on building a collaborative relationship, not just
securing the best short-term deal.
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Securing Banker Relationships
Trust
Establish a strong, personal rapport with your banking partners to foster trust and
reliability.
Transparency
Provide detailed financial information and projections to demonstrate the viability of
your business.
Responsiveness
Promptly address any concerns or questions from your banking contacts to maintain a
positive relationship.
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Onboarding Principal Customers
Customers
1 Needs Assessment
Thoroughly understand the customer's requirements, pain
points, and desired outcomes.
2 Tailored Solutions
Propose customized products or services that directly
address the customer's unique needs.
3 Ongoing Support
Provide exceptional customer service and be responsive to
any issues or concerns that arise.
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Ensuring Contract Compliance
Regular Audits Periodically review contracts to
ensure all parties are fulfilling
their obligations.
Clear Communication Maintain open and transparent
communication to address any
potential issues or concerns.
Dispute Resolution Establish a well-defined process
for addressing and resolving
any contractual disputes that
may arise.
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Next Steps: Formalizing
Partnerships
Comprehensive Contracts Regular Reviews
Schedule periodic reviews to
Develop detailed, legally- assess the ongoing
binding contracts that fully effectiveness of the
capture the terms and partnership and make any
conditions of the partnership. necessary adjustments.
Continuous Improvement
Foster an environment of open communication and collaboration to
identify opportunities for growth and optimization.
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