The Contract Mistakes That Could Cost You Thousands

Most business owners think having a contract is enough. But what’s in that contract and how well it protects you can be the difference between smooth sailing and an expensive legal disaster.

Here are the most common contract pitfalls I see:

1. Vague or missing payment terms
If it doesn’t say how much, when, and what happens if they don’t pay, you’re opening yourself up to disputes or delayed income.

2. No clear scope of work
When deliverables aren’t clearly defined, expectations clash. That’s how “small projects” turn into unpaid overtime.

3. Missing legal protections
Does your contract include a limitation of liability? Confidentiality clause? Dispute resolution terms? If not, you’re exposed.

4. Using free templates or copy-pasting from competitors
Contracts should reflect your business not a generic one-size-fits-all template that might not even be enforceable in your state.

5. Not having both parties sign
Yes, this happens. A contract isn’t a contract until both sides agree in writing.

The Fix?
Have your contracts reviewed (or created) by someone who understands your industry. A strong contract builds trust, reduces confusion, and protects you legally and financially.

➡️ Want to make sure your contracts are solid? [Book a legal audit.]