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Casual Articles - Stop Your Employee From Becoming Your Competitor
Careers in Finance: Insurance vs Corporate low such binding contracts. Or local laws do not prevent such contracts, but the courts find in favor of your competitor's claims.It has been eight years since my friends and I graduated from business school, eight long years since we studied all about the law of supply and demand and dreamed about our future careers in the exciting and rewarding field of finance.There are six of us in our group and we have all managed to stay in touch with each other despite our hectic schedules. Who am I kidding? One big reason why we have stayed in touch with each other is because we help each other with contacts and networking. There’s nothing like a little school spirit to make the wheels of business spin a little faster. That is especially so since most of us have landed in different spheres of the financial industry. Different, yes, but I must also stress that these spheres are inter-connected. It really is a fascinating industr Claims that you are preventing them from obtaining gainful employment, that they have trained for, even if it means they have become your newest competitor. Not to mention that your existing clients are not under written contract with you to remain your clients. If this has happened to you, understand that you are not alone in this. You are but one more in the v Trade Journals in Franchising You know the routine. You've hired an eager individual willing to come onboard and learn the business. You've taught them, trained them, worked hand in hand and side by side for 2 solid years. Then all of a sudden your employee quits for no apparent reason.As many people know Industry Trade Journals in America have gone through a tough time in recent years due to slowing of advertising dollars. In franchising there is no difference. They use to give away subscriptions to Successful Franchising on franchise web sites; unfortunately that magazine was unable to weather the storm. They stop publishing in October of 2001. Now we see a re-emergence of Franchise Times, who has hired a new salesman, who is going to all the franchisors and telling them to advertise.Most franchisors have theories of where it is best to advertise. Most DO NOT advertise in such trade journals. A few do, mostly for brand name recognition, although in my opinion it is a total waste of money. Franchisors who really care about their franchisees would spend the advertising dol To your disbelief and utter amazement, you realize that you have just wasted the last 2 years of your life. A week or so goes by and you learn that your former employee has started a similar business and there's nothing you can do to stop them. Or is there? The questions start racing through your mind at light speed. "Why did they just up and quit without notice?" "I thought they liked working here?" "How come I didn't see this coming?" "What could I have done differently?" "Could I have been better prepared for this?" Then the worst possible thought hits you. "They know all my clients!" "Which clients of mine are they going after?" "Will my customers stick with me or go with the new kid on the block?" Still confused at their abrupt departure from your employ, you start contacting all of your regular clients. You begin learning that many of them have already been solicited by your former employee. Your fears are confirmed and the pain hits you like a knife in the back. To add insult to injury the new rates quoted are nearly half what you charge and your clients are wanting some fast answers to your much higher fees. Some thinking that you are gouging them start jumping ship faster than rats on a sinking and burning ship. Upon examining your options you discover that it's to late. Now you're considering that maybe you should have put together that "Non-Compete"..., "Non-Solicit" ... or "Non-Divulge" contract. You could of had that individual sign it, before they worked one minute for you. At least that's what some business owners have told you they do. In hind sight that solution now seems fair and reasonable. Well it's reasonable until you learn that your state, county or city laws no longer allow such binding contracts. Or local laws do not prevent such contracts, but the courts find in favor of your competitor's claims. Claims that you are preventing them from obtaining gainful employment, that they have trained for, even if it means they have become your newest competitor. Not to mention that your existing clients are not under written contract with you to remain your clients. If this has happened to you, understand that you are not alone in this. You are but one more in the vi A Guide to Buying a Website Business on Ebay . Or is there?So you've seen all of those appealing listings on eBay for websites that promise a living from doing almost nothing. Now I've seen countless people buy these things and I dont know why. In real life, if a person came up to you and promised everything like that you would naturally figure it to be a scam and not pay attention to it. So why don't people do the same on ebay? It's because these auctioners are crafty, they often times provide you with tables of potential sales and usually state things like "If you just make 5 sales a day, you'll earn $3900 a month!". This is what ropes most people in (and by most I mean inexperienced or first timers). Little do they know that getting 5 sales a day is a feat.Unestablished SitesGo ahead, go on ebay and search "website business", infac The questions start racing through your mind at light speed. "Why did they just up and quit without notice?" "I thought they liked working here?" "How come I didn't see this coming?" "What could I have done differently?" "Could I have been better prepared for this?" Then the worst possible thought hits you. "They know all my clients!" "Which clients of mine are they going after?" "Will my customers stick with me or go with the new kid on the block?" Still confused at their abrupt departure from your employ, you start contacting all of your regular clients. You begin learning that many of them have already been solicited by your former employee. Your fears are confirmed and the pain hits you like a knife in the back. To add insult to injury the new rates quoted are nearly half what you charge and your clients are wanting some fast answers to your much higher fees. Some thinking that you are gouging them start jumping ship faster than rats on a sinking and burning ship. Upon examining your options you discover that it's to late. Now you're considering that maybe you should have put together that "Non-Compete"..., "Non-Solicit" ... or "Non-Divulge" contract. You could of had that individual sign it, before they worked one minute for you. At least that's what some business owners have told you they do. In hind sight that solution now seems fair and reasonable. Well it's reasonable until you learn that your state, county or city laws no longer allow such binding contracts. Or local laws do not prevent such contracts, but the courts find in favor of your competitor's claims. Claims that you are preventing them from obtaining gainful employment, that they have trained for, even if it means they have become your newest competitor. Not to mention that your existing clients are not under written contract with you to remain your clients. If this has happened to you, understand that you are not alone in this. You are but one more in the v Consultants & Ethical Organizations - Nu Leadership Series eir abrupt departure from your employ, you start contacting all of your regular clients. You begin learning that many of them have already been solicited by your former employee. Your fears are confirmed and the pain hits you like a knife in the back.“In the past a leader was a boss. Today's leaders must be partners with their people... they no longer can lead solely based on positional power.”Ken BlanchardCorporate executives appear to be faltering and need help. Scandals grow larger and more intensive day-by-day for organizations. Some people may proclaim that a highly respected consulting firm can get this job done. Executives only need to hire a good consultant, and the ethical issues will disappear. By being an objective party, a consultant can evaluate an organization and provide them new insight on organizational behavior.In this line of reasoning, consultants become the executive’s moral compass; they serve in this role to produce ethical people at all levels. Unfortunately, given most consultants’ po To add insult to injury the new rates quoted are nearly half what you charge and your clients are wanting some fast answers to your much higher fees. Some thinking that you are gouging them start jumping ship faster than rats on a sinking and burning ship. Upon examining your options you discover that it's to late. Now you're considering that maybe you should have put together that "Non-Compete"..., "Non-Solicit" ... or "Non-Divulge" contract. You could of had that individual sign it, before they worked one minute for you. At least that's what some business owners have told you they do. In hind sight that solution now seems fair and reasonable. Well it's reasonable until you learn that your state, county or city laws no longer allow such binding contracts. Or local laws do not prevent such contracts, but the courts find in favor of your competitor's claims. Claims that you are preventing them from obtaining gainful employment, that they have trained for, even if it means they have become your newest competitor. Not to mention that your existing clients are not under written contract with you to remain your clients. If this has happened to you, understand that you are not alone in this. You are but one more in the v Starting Up Chic ship.Any woman can be an entrepreneur. After working with startup businesses for years, I know this. However, if you want to be a Chic Entrepreneur you have to combine style with industriousness. Chic Entrepreneur’s are a rare and powerful commodity. They tend to be in the 10% of startup businesses that actually succeed. Why you ask? That’s because a Chic Entrepreneur knows what she’s doing and she acts like it.She is classy and always on top of her business game. Chic Entrepreneur’s know that to be successful in today’s tough business climate they have to provide unique value to the market, have a strategic plan, wow customers and inspire employees, ante up the necessary startup costs and turn those costs into a waterfall of cash flow.You can be a Chic Entrepreneur, too. You can e Upon examining your options you discover that it's to late. Now you're considering that maybe you should have put together that "Non-Compete"..., "Non-Solicit" ... or "Non-Divulge" contract. You could of had that individual sign it, before they worked one minute for you. At least that's what some business owners have told you they do. In hind sight that solution now seems fair and reasonable. Well it's reasonable until you learn that your state, county or city laws no longer allow such binding contracts. Or local laws do not prevent such contracts, but the courts find in favor of your competitor's claims. Claims that you are preventing them from obtaining gainful employment, that they have trained for, even if it means they have become your newest competitor. Not to mention that your existing clients are not under written contract with you to remain your clients. If this has happened to you, understand that you are not alone in this. You are but one more in the v Take Advantage of All the Benefits Your Employer Offers low such binding contracts. Or local laws do not prevent such contracts, but the courts find in favor of your competitor's claims.Are you taking advantage of all the benefits your company has to offer? Most employees are not really sure of the benefits they are entitled to or what their company offers, and many are missing out on free money they don’t even know about.There are three top benefits you MUST be sure to sign up for if your company offers them:Health Insurance Flexible Spending Account (FSA) 401(k)Health insurance.If you are lucky enough to work for an employer who pays the whole premium for an individual health insurance policy, make sure you sign up. As healthcare costs rise each year, companies are cutting back on the amount of the premium they will pay for, which means you pay the difference. Health insurance is an excellent benefit, even if you have to pay a p Claims that you are preventing them from obtaining gainful employment, that they have trained for, even if it means they have become your newest competitor. Not to mention that your existing clients are not under written contract with you to remain your clients. If this has happened to you, understand that you are not alone in this. You are but one more in the vicious cycle of abuse, that other businessmen and women have suffered, at the outright betrayal from their so called "Trusted Employees". So what's a business owner or manager to do? How do you even the playing field without violating the law or swaying a court of law against you? How can you slow down or stop employees from becoming the competition? With the possibility of "Non-Compete"..., "Non-Solicit" ... or "Non-Divulge" contracts being contested, then the alternative would need to be a contract that cannot be contested in any court. To protect your interests and assets there is a legal and binding way that will not violate either parties employment rights but provide you legal recourse. Do you want to know what it is? Before you move forward with any pre-employment contract development stop and consider what you as the employer provide for your hired staff. Items that show your business value has grown, due to your provisions, but does suffer lose when an employee quits. What types of provisions could build value into your business? Do you provide paid and continued education? Do you provide tools and equipment? How about a company vehicle? Company phone? Company Uniforms? Access to client files and data? All of these items are but part of your company's assets that you provide and must be well documented that you provide them. Even the education you provide for your employees, whether directly through hands on or indirectly such as a company paid class or seminar. Without these items the employee would be helpless to perform their needed and required tasks. So how can you protect these assets from going out the door and preventing employees from soliciting your clients? Would you be surprised if I said, "PROMISSORY NOTE". That's correct. A promise of payment from a promissory note is a legal binding contract and will stand up in court. The reason it is binding is that the person signing it agrees to pay the predetermined maximum amount
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