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Tom Riach
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Tom Riach   My Press Releases

Wealth 35 : My Word Is My Bond

Published on 1/14/2015
For additional information  Click Here

MY WORD IS MY BOND


My Word Is My Bond” is the 35th in my 'Wealth' series of original copyrighted WakeUp2Wealth Press Releases written by Tom Riach (that's me above) from my home in the sunny south of Portugal.

Wake Up 2 Wealth

Wake Up 2 Wealth's Daily View Of The World!


MY WORD IS MY BOND



'My word is my bond' is not an expression that you hear much these days. You're even less likely to come across it actually being applied in practice – and that's a shame. Because those words hark back to a time when a man's word was binding and it was considered dishonourable to go back on ones word. Today is different.


Today there is a lack of trust. And there is a lack of trust because people lack respect for others, the latter being fundamentally due to their own lack of self respect. After all if you don't trust yourself to behave with decency then you're not going to expect to find it in anyone else.


Most people 'hate' politicians. They harbour this deep loathing because politicians are, often rightly, perceived to be devious, deceitful and lacking in integrity. But, in truth, people get exactly the politicians they deserve. Why? Because politicians are of and from the people. They come from the same culture and society which they represent and therefore display and practice the same tendencies as the rest of the population. So, if people want their political representatives to behave with honesty and integrity then they must first start to behave with honesty and integrity themselves.


And today everything is contracts and litigation. Selfishness and greed pervades much of society and rapacious lawyers and government give it momentum. Politicians interfere in ever more areas of people's lives and the legal profession actively promotes the 'blame game' in liability claim litigation. They also encourage ever more complex contractual arrangements and more of them. Yet, as regards contracts, any lawyer will tell you that there isn't a contract which man can write which another man can't break.


POWER POINT - “There is not a contract man can conceive which another man can't break.”


And the more complex the content of a contract then the more scope there is for that content, the wording or the substance, to be challenged. In other words, the more contracts there are and the more complex they are simply provides more work for the legal profession. Many contracts, and often the legal profession, are of little benefit to the general public. In practical application a contractual dispute will not be 'won' by the party 'in the right', it will be won by the party with the most financial muscle, the one who can afford to take it furthest into litigation. Where's the justice in that? Where is the benefit of such a system to you and I? Would we not be better reverting to a simple handshake and honouring it? Then we'd have no expensive lawyers, no meaningless papers. And most significantly, we'd take responsibility for our own actions and put ourselves back in control of our own destiny.


POWER POINT - “Take responsibility for your own actions and put yourself in control of your own life.”


Take my word for it. I'm not the kind of guy to mess about. Check me out by CLICKING ON the photo below.

My Word Is My Bond

That's me on the right, on stage at Vilamoura Casino presenting awards in my capacity as consultant to a major leisure and tourism company.


You can Contact me and arrange a FREE chat with me NOW! - Go to Contacts section at the bottom of this article.


MY WORD IS MY BOND


Many years ago I drafted a franchise agreement for a project in which I was involved. I was very thorough in my work, covering every conceivable point and including in fine legalese lots of 'in-the-event-ofs', 'not-withstandings' and 'wherein-as-befores'!! On completion I took the document along to a local lawyer to have it checked. After a thirty minute examination it was declared perfect, flawless – not a single alteration was recommended. I was then charged several hundred pounds sterling for the consultation! Not surprisingly I quickly resolved to write all of my own contracts from then forward and forego having them scrutinised by a law firm. Subsequently I produced contracts for my clients too and at a fraction of the cost charged by lawyers.


To this day, I will write contracts for clients but just as often I will recommend that they don't use one, that they proceed on trust and a shake of the hand. That they practice the 'My word is my bond' philosophy. I give this advice because I myself have not used contracts for my own work for several years … and, believe me, I get along just fine without them. Critics will not only say that this practice is risky but also that my refusal to do contractual work is typically losing me a substantial percentage of potential clients. My response to this last point is that I'm gaining one hundred per cent of the clients with whom I wish to work! And by definition, these are honourable clients who present no risk at all!


POWER POINT - “Filter out potential clients and time wasters with whom, for whatever reason, you don't want to work. The ones with whom you do want to work will be low risk, low hassle, high profit.”


When you work only with those clients who are agreeable to a non-contractual arrangement you will be employing the 'I Want' business principle; that's where your business plan is based on your 'wants' – in this case 'I want to work only on a non contractual basis'. Additionally you will be spending all of your time only with quality clients rather than wasting the bulk of your time with clients who do not conform to your 'I Want' business plan.


Here is a real example of one of my non-contractual business arrangements :


For many years I have run my Wake Up Leisure and Learning Breaks (click on that title to learn more about them). In conducting this business -

  • Guests contact me and arrange their visit by email

  • There is no exchange of contracts

  • They say they'll arrive and I say I'll be there for them

  • When they arrive they pay me for my services

  • When they pay me then I provide my services


That's it, simple. No contracts, no lawyers and no extra cost, just trust. I trust the guest to turn up and to pay me. The guest trusts me to be there and to provide the service. The only risk to me would be if the guest didn't show. It's never happened and if it did, it wouldn't concern me. The risk to the guest is if I am not there to meet them, but I do have assistance. So risk negligible, contract unnecessary.


But the biggest point is this : I have deliberately constructed the business this way!


POWER POINT - “Construct your business and the manner in which it operates to suit your own wants.”


The type of the business I've constructed and the quality of the people who therefore get involved (those to whom their word is their bond and for whom their integrity is their most valued asset) means that the business is sure to succeed on a strictly 'My Word Is My Bond' basis. And it proves conclusively that, if we want it enough we can, even in the modern world, work without contracts and work according to 'My Word Is My Bond.'


POWER POINT - “Choose to work only with quality people to whom their word is their bond and for whom their integrity is their most valued asset.”


Foot Note : Even where no written contract has been entered into, a contractual arrangement can still in law be deemed to exist (depends on jurisdiction and circumstance). So litigation can still be pursued where considered necessary but without having incured the front end fuss of documentation and legal fees.


I live and 'work' in the sunny south of Portugal. Need I say more?


This is my 'office'!

My Word Is My Bond

Click on Joseph T.Riach, Freelance Writer to learn more about the author or to inquire regarding his work or commissions.


MY WORD IS MY BOND

is an original copyrighted Tom Riach press release, short and to the point. I hope you enjoyed reading about ”My Word Is My Bond” and found it informative/entertaining. To learn more or to get in touch with me please visit me on my website at WAKE UP 2 WEALTH.

See you there! Regards, Tom.


© Copyright Joseph T.Riach 1998-2015. All rights reserved.


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