Stick contract easily

Aug 6th, 2022
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How to stick contract

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Hey everyone its Susan Peirce Thompson and welcome to the weekly vlog. So this week I wanted to share a tool with you because Ive been using it a bunch lately and to really good effect and the tool is called a StickK Contract. Otherwise known as a commitment contract and if youve been around for a long time and maybe youre a Bright Lifer then youve probably heard of StickK Contracts or commitment contracts because I was talking about them a bunch about three years ago and in fact I shot a vlog on them three years ago but it dawned on me recently, as I was using them a bunch, that theres a whole new generation of people engaged in our community now who might not be aware of this tool. And I think the ways Ive been using them are really illustrative of the ways that a commitment contract can really help to provide just that extra little bit of support to guide our habits and our behavior. So let me back up and just share a vignette that I first heard I think from Tal Ben-Shahar,

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Each time an individual breaks a contract that involves a penalty fee, stickK collects a percentage of that fee. Ayres said stickK collects 19.5 percent of contract defaults to charities and 29.5 percent to anti-charities. StickKs other major revenue source is its corporate contracts.
Making a Commitment Contract is 100% free, no matter how many of them you make. Even if you put money on the line, stickK wont charge you a penny upfront.
Therefore, we can say that currently stickk isfollowing freemium business model in its B2C segment.In case of B2B stickk is following a direct sale model for which the company hasdeveloped a sale process it believed would be effective for corporate and nonprofitclients.
Each time an individual breaks a contract that involves a penalty fee, stickK collects a percentage of that fee. Ayres said stickK collects 19.5 percent of contract defaults to charities and 29.5 percent to anti-charities. StickKs other major revenue source is its corporate contracts.
stickK works by helping its users leverage the power of incentives and accountability through the creation of Commitment Contracts. A Commitment Contract is a pre-commitment device that forces users to make decisions upfront (now) about their future behavior.
Making a Commitment Contract is 100% free, no matter how many of them you make. Even if you put money on the line, stickK wont charge you a penny upfront.
stickK works by helping its users leverage the power of incentives and accountability through the creation of Commitment Contracts. A Commitment Contract is a pre-commitment device that forces users to make decisions upfront (now) about their future behavior.
I just learned a new termsticky contracts. It refers to the tendency of drafters to stick with a given form contract, even if it contains suboptimal provisions. Gordon Smith has a post on the subject at the Conglomerate blog.

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