The “credit” conversation tends to circulate particularly heavy this time of year. So much so, that we deem this topic “crucial”. This conversation is not black & white but, there are some clear indicators on when credit should and should not be expected.

Charity - Typically, when someone gives to charity, it is out of the kindness of one’s heart. In the case of businesses that give back, they may have their logo on commercials for the charity or they may have their branding featured in charity events. However, when working with these organizations, the goal is to highlight the cause.

B2B - This one has some grey areas. In business to business exchanges, goods or services may be bartered or one business may be paying for a service from the other business. Often times you’ll have someone who believes in the business but, may not request monetary compensation for the work one does. Also often, a business owner may need a service and requests a quote but, simply can’t afford the going rate. The business that issues the quote may then issue a lesser quote or offer pro bono services.

Before we present our conclusion, popular opinion seems to be two statements:

“I don’t need my credit”.

“I don’t have to give you credit”.

Both are valid. One does not need credit from others to succeed. Those who one helps or influences may not be obligated to give one credit… Unless there is a contractual agreement on said credit.

Does credit matter? Absolutely. Speaking of credit in a financial sense, good credit equals good reputation with lenders. Seeing a positive credit history opens doors to access more funding. Bad credit closes doors. It’s that simple. Often times many are quick to share negative experiences but, not positive ones. Good reputation means something. Customer/Client reviews mean something. Accepting help from others and insinuating that you did everything on your own, “hurts feelings”.

With that being said, there is a difference between wanting credit and wanting validation. In the case where one helps the other and the business is positively impacted… You absolutely deserve your credit and it is up to the parties involved to determine what that credit looks like. We recommend a contractual agreement that states your stipulations before you close business. Both parties should be clear up front on one’s expectations and an agreement should be met.

In closing - Don’t seek validation. Put your credit in a contract.