Ryan Ho's Entrepreneurship Blog

Agreement is the act of agreeing, coming to a mutual arrangement that is accepted by all parties to an arrangement.

There is another type of agreement which is gentlemen’s agreement. It is an informal agreement between two or more parties involved and relies upon and reflects the honor of the parties for its fulfillment which is not governed by any law. It is also known as a promise or verbal agreement.

Depending on the position you are in, you can have a verbal agreement or to have it pen down in black and white to protect your interests in-case anything goes wrong so you can claim and protect your business and your own intellectual property and trade secrets.

Experience with time will tell you that sometimes verbal agreements do not work and that is when you should pen it down in black and white to protect your interest and rights. If you are considering doing a business, consult a professional lawyer and have him or her write out a few local terms and conditions, privacy, refund, employment, breach of contract agreements before you start telling anybody about your business ideas.

Whatever that involves money and anything that will help either a person or a group of people to make money, have to be guarded nicely and be put in a safe nest for housekeeping making sure everything is law abiding and thus establishing a multiple win solution for all business partners, investors and employees interests at heart.

Have you started thinking about your own agreement? If your answer is no, you should and start thinking, think back of past experience which will help you come up with a list of conditions to be written in an agreement.

Protect your money, property and nest like how an animal protect their young in the wild.

Popularity: 2% [?]

Endorsement is a agreement either between two individuals or between a company and an individual with celebrity-liked status with creditability, trust and reputation. He/she can be either an media artist, model or athlete and others.

Endorsement is just a simple business strategy which allows the company and business to leverage on the celebrity’s reputation and the trust which they have built with us through different Medias inclusive of their own effort and hard-work over the years. It is the act of getting paid to endorse products and that doesn’t mean the celebrity endorsing the product have to use the product himself/herself when endorsement agreements are carried out as long as the agreement of a highly remunerative compensation in return for the celebrity to endorse a product.

Celebrity endorsements can be taken likely with a pinch of salt because when the celebrity himself/herself don’t even use the product or is unable to use the product and services because of specific gender targeting, than the endorsement may create a curiosity among the customers and the public which is another strategy which businesses often do depending on the market they want to penetrate into.

The most recent case is Ris Low endorsing a condom brand – Zander Asia who is the distributor of the condom as reported in Channel News Asia. She has said in a morning live interview that she endorse the product condom purely because it promotes a healthy image, which most of us will agree, other queries or doubts with regards to this endorsement, lets leave it to you to discuss and think about it.

Business endorsement is another story and a completely different ball-game in this same aspect. When a business endorses a product or service, the firm is entrusting their reputation, creditability on the line for any business endorsements.

If in the event should a endorsement products or services failed to satisfy the customers’ needs and failed in delivering the promise, the business that’s endorses the product and services will instantly overnight facing huge business loses which will definitely implicate other business endorsement they have a hand into even if they are not related together with the company that pay the business for the endorsement deal together down in times of trouble.

An perfect example is Tiger Woods after the sex scandal for sex addiction and most brands has since removed him and terminated the endorsement contract with him. More details in Time website.

With such heavy risks, that is why not many, in fact only a handful of businesses out there are willing to put the business brand and reputation to endorse their products and services. The most successful business endorsement is Trump which belongs to Donald J.Trump a billionaire property investor.

The next time you decide to buy any products or services with endorsements, find out if there is any ambassador who took up the endorsement and if he/she is a businessmen/women or it’s a firm that’s endorsement the products and services.

If you find any businessmen especially successful ones personally endorsing any company, products or services, than don’t even think about it and jump right in joining them to earn wealth together if there’s ever an opportunity to work together with them. Businessmen access and do their own investigation for months first before any commitment etc so if they are happy with the results which risking their business reputation which could tarnish and collapse over night due to a silly mistake, they will jolly well make sure that this doesn’t happens.

Make the right choice in purchasing opportunity, products or services from businessmen endorsements rather than celebrity endorsements. Be smart, save money, and time and grab whatever opportunity that comes your way.

Popularity: 1% [?]