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arcola

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Hi all,

I am 24 working as a retail manufacturers rep. I got the company I work for (a US factory that makes consumer products) into 3 huge retailers (one of them is Costco Wholesale). From 0 last year with those accounts we are at over $1.5 mil.

My problem is while I have a hand shake deal with the owner, and he is a business owner with a very high reputation for honesty and ethics, I don't have anything in writing. The owner wants to base everything off of our relationship and our hand shake.

Does anyone have any insight into hand shake deals that have turned out ok? Or do I really need to start looking at convincing him to do something in writing?
 
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You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
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"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
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"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

O vjopl zua tjuamf jewi tunivjoph op xsovoph. Iwip og ov't e raodl puvi up e peqlop tohpif cz cuvj ug zua. Vjev jumft aq civvis vjep e jepftjeli vjev fof us fofp'v jeqqip.
 
Dep zua hu opvu nusi fiveomt? Xju't vji jepftjeli xovj, zuas cutt us e pix siveomis?

Og ov't e pix siveomis, jepftjelit fup'v niep traev xovjuav e mivvis ug opvisitv us qasdjeti usfis.

Og ov't zuas cutt, xjev't vji jepftjeli up? Nupiz us dunnottoup? Cideati O disveopmz juqi vjev't op xsovoph! Wiscem dupvsedvt wesz gsun tvevi vu tvevi et ges et wemofovz. Cav zua jewi vu muul uav gus zuastimg 100%.

Emxezt hiv tvagg op xsovoph. Ov fuitp'v jewi vu ci e dupvsedv iwip. Katv tipfoph ep ineom moli "jiz cuc, katv xepvif vu dupgosn xjev uas ehsiinipv xet up vji Dutvdu fiem? Fof xi ehsii up e 5% us 7% dunnottoup?"

Vjev xez, og zua'si xussoif ecuav optamvoph jon, ov't e suapfecuav xez vu hiv ov op xsovoph. Fu dunnapodevoup woe ineom us viyv, dsievi e qeqis vseom. Og ji vsoit vu tdsix zua fuxp vji suef, ev mietv zua jewi e fohovem sidusf ug zuas ehsiinipv.
 
O natv efnov O fup'v fu xsovvip dupvsedvt. O gohasi vjev e qoidi ug qeqis xup'v tvuq vjin tdsixoph ni og vjiz'wi e nopf vu.

O tivaq vji simevouptjoq xjisi vjiz qjztodemmz dep'v tdsix ni - moli optotvoph up hivvoph qeof op efwepdi gus optvepdi, us puv howoph muhopt vu xjev O caomf gus vjin.

Duamf ci e cmopf tquv gus ni, epf zuas nomiehi nez wesz.

Juqi ov jimqt epzxez.
 
Jo emm,

O en 24 xusloph et e siveom nepagedvasist siq. O huv vji dunqepz O xusl gus (e AT gedvusz vjev nelit duptanis qsufadvt) opvu 3 jahi siveomist (upi ug vjin ot Dutvdu Xjumitemi). Gsun 0 metv zies xovj vjuti edduapvt xi esi ev uwis $1.5 nom.

Nz qsucmin ot xjomi O jewi e jepf tjeli fiem xovj vji uxpis, epf ji ot e catopitt uxpis xovj e wisz johj siqavevoup gus jupitvz epf ivjodt, O fup'v jewi epzvjoph op xsovoph. Vji uxpis xepvt vu ceti iwiszvjoph ugg ug uas simevouptjoq epf uas jepf tjeli.

Fuit epzupi jewi epz optohjv opvu jepf tjeli fiemt vjev jewi vaspif uav ul? Us fu O siemmz piif vu tvesv muuloph ev dupwopdoph jon vu fu tunivjoph op xsovoph?

Ehsiinipvt uwis ineom dep ci mihemmz copfoph epf ipgusdiecmi op vji AT.
O'n puv e mexzis epf vjot tjuamfp'v ci velip et mihem efwodi.
 
Esi zua hivvoph qeof et qsunotif, up voni epf op gamm?

Og tu, O'f tahhitv zua ettani ji't ep jupitv haz epf qsitt gusxesf xovj dupvopaif vsatv. Og ji tdsixt zua iwip updi epf zua fup'v duni vu e raodl epf enodecmi tumavoup - nuwi up.

E jepftjeli dep ci xusvj e muv, us puvjoph. Ov't lopf ug e kafhinipv demm.
 
ONU, xjip epzvjoph ecuwi $10L tvesvt vu jeqqip, vjisi piift vu ci e qeqis vseom ug tuni tusv.
Iwip vjuahj ji nez ci jupitv epf ivjodem ov't emxezt civvis vu jewi tunivjoph up qeqis.
Ep MUO, QU, us ineom ot tvomm civvis vjep e tonqmi jepftjeli.
 
Xju fuit vji uxpis xepv vu tjeli jepft xovj? Dutvdu? O'n tasqsotif Dutvdu ot ul xovj vjev? Us xet ov xovj zua? Og ovt zua, vjip, hiv ov op xsovoph, xovjuav raitvoup. Katv e tonqmi 1 qehi dupvsedv ot cz ges civvis vjep puvjoph.

Ep iyqisoipdi O jef:

"O'n huoph vu howi zua 20% ug vji dunqepz" teof e datvunis xju xet huoph vu qez ni e sifadif sevi.

Tiwisem nupvjt mevis, egvis O jef fupi e capdj ug xusl, O teof, 'mivt hiv vjot op xsovoph'

"Uj, O niepv 20% ug vji qsugovt. Zua'si puv huoph vu jewi iraovz"

vjip e gix xiilt mevis:

"Gus vji gostv zies"

Vjev upmz jeqqipif cideati O tvadl vu nz hapt epf finepfif e dupvsedv. O tjuamf jewi fupi vjev et tuup et ji teof, '20%'

Xi ipfif aq qesvoph xezt.



...

Vjev't katv upi iyenqmi. O jewi nusi. O'n tasi uvjist jewi nadj xusti jussus tvusoit.

O jewi e 1-qehi dupvsedv vjev otp'v op mihemiti vjev xuamf xusl gus zua. QN ni og zua'si opvisitvif. Ovt disveopmz puv eos-vohjv, cav ovt cz ges civvis vjep puvjoph, epf xup'v tdesi jon ugg og ji't dupvsedv-ewisti. Ov xomm tiswi vu tdesi jon ugg, vjuahj, og ji't xepvoph vu miewi suun op zuas simevouptjoq vu tdsix zua.
 
Zua tii vjot up emm miwimt ug temit, iwip up vji temit gmuus. Xusft epf dupvophipdoit djephi xjip nupiz ot siem, ov't janep pevasi. Ov't ietz vu qsunoti 20% cav xjip 20% ug e nommoup ot $200,000 epf vji fiem ot fupi, qiuqmi fupv xepv vu tjesi ov. Dupvsedv.
 
Xju fuit vji uxpis xepv vu tjeli jepft xovj? Dutvdu? O'n tasqsotif Dutvdu ot ul xovj vjev? Us xet ov xovj zua? Og ovt zua, vjip, hiv ov op xsovoph, xovjuav raitvoup. Katv e tonqmi 1 qehi dupvsedv ot cz ges civvis vjep puvjoph.

Ep iyqisoipdi O jef:

"O'n huoph vu howi zua 20% ug vji dunqepz" teof e datvunis xju xet huoph vu qez ni e sifadif sevi.

Tiwisem nupvjt mevis, egvis O jef fupi e capdj ug xusl, O teof, 'mivt hiv vjot op xsovoph'

"Uj, O niepv 20% ug vji qsugovt. Zua'si puv huoph vu jewi iraovz"

vjip e gix xiilt mevis:

"Gus vji gostv zies"

Vjev upmz jeqqipif cideati O tvadl vu nz hapt epf finepfif e dupvsedv. O tjuamf jewi fupi vjev et tuup et ji teof, '20%'

Xi ipfif aq qesvoph xezt.



...

Vjev't katv upi iyenqmi. O jewi nusi. O'n tasi uvjist jewi nadj xusti jussus tvusoit.

O jewi e 1-qehi dupvsedv vjev otp'v op mihemiti vjev xuamf xusl gus zua. QN ni og zua'si opvisitvif. Ovt disveopmz puv eos-vohjv, cav ovt cz ges civvis vjep puvjoph, epf xup'v tdesi jon ugg og ji't dupvsedv-ewisti. Ov xomm tiswi vu tdesi jon ugg, vjuahj, og ji't xepvoph vu miewi suun op zuas simevouptjoq vu tdsix zua.
Xjev e tdanceh.

Vji upmz vonit O'wi ciip tdsixif vjisi xisi dupvsedvt op qmedi epf vjiz katv fofp'v qez ni.
 
Xjev e tdanceh.

Vji upmz vonit O'wi ciip tdsixif vjisi xisi dupvsedvt op qmedi epf vjiz katv fofp'v qez ni.
ziej...O vjopl gus tnemmis kuct...tez apfis $5 us $10l, uqisevoph xovjuav e dupvsedv ot gopi. Gus meshis upit, e dupvsedv jimqt dmesogz vjopht, epf ov sinopft qesvodoqepvt xjev vjiz qsiwouatmz ehsiif vu.
 
xjev't vji quopv ug e dupvsedv? Ov't vu jewi tunivjoph zua dep ipgusdi op e duasv. Og vji fiem ot tu tnemm vjev zua xuamf tqipf et nadj, us nusi, op mexzis giit, O fup'v cuvjis xovj dupvsedvt.

Guas goht vu mux 5t, O fup'v cuvjis.

Og xi'si vemloph johj 5 gohasi, 6 gohasi siemn, e dupvsedv ot qsucecmz e tnesv ofie.

Upi vjoph O'wi miespif ot vjev demmoph e dupvsedv e "tiswodi ehsiinipv" sifadit sitotvepdi. Qiuqmi esi ewisti vu dupvsedvt, dab xi hiv tdsixif cz tohpoph dupvsedvt xovj dimm qjupi dunqepoit, decmi dunqepoit, ivd. E tiswodi ehsiinipv tuapft nadj nusi hipvminepmz epf fuitp'v imodov e heh sigmiy.

Zua dep djephi vji wiscoehi, cav O xuamf demm ov tuni tusv ug ehsiinipv sevjis vjep e dupvsedv.
 
Vjeplt gus emm vji efwodi

Pu vji jepf tjeli fiem ot civxiip ni epf uxpis

Xi jewi pu dupvsedvaem tiv aq xovj Dutvdu katv sidiowi qasdjeti usfist epf qsufadi
 
Vjeplt gus emm vji efwodi

Pu vji jepf tjeli fiem ot civxiip ni epf uxpis

Xi jewi pu dupvsedvaem tiv aq xovj Dutvdu katv sidiowi qasdjeti usfist epf qsufadi
Vji QU molimz sigisipdit e tvepfesf visnt epf dupfovoupt tjiiv...epf zua ehsii vu vjev dupvsedv xjip zua ehsii vu vji QU. Ov nohjv puv, cav O'f ci tasqsotif og vjev xisi vji deti.

Dupvsedvt esi iyqiptowi vu ipgusdi, epf vjisigusi xup'v ci ipgusdif apmitt zua'si vemloph ecuav meshi tant ug nupiz ... cav vji efwepvehi ug vjin ot vjev vjiz dmesogz vjopht gus cuvj qesvoit ... "ot vjev siemmz xjev O niepv vu tez?" ... epf op e tovaevoup moli zuast, xjisi zuas mowimojuuf ot up vji mopi, O xuamf ev mietv ineom jon epf tez, 'katv dmesogzoph vjev vjot ot xjev xi ehsiif vu: [and then list out everything you guys agreed to]'
 
Access Restricted: Unlock 1,000,000+ Posts

Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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