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Answer Upon - Stop Your Employee From Becoming Your Competitor
number six in a series taken from:How to Evaluate and Profit from a Business Opportunity - The Entrepreneur's GuideIt's important that you understand how the business makes money. You must take that business down to its essence. For example banks make money by loaning it out at higher rates than it pays to get the money. What it pays to investors as interest, to its shareholders as dividends, and what it pays in interest to the other institutions it borrows from are its costs. It has to get the money (Its inventory) it has and has access to out into our hands as loans at rates that produce more income than its costs.It really is no different than a car dealer. The dealer has inventory -- cars, which it doesn't own until it sells, on which it pays interest (usually to the manufa
The reason it is binding is that the person signing it agrees to pay the predetermined maximum amount allowable by law and then the note is filed at your local courthouse and is on file as a legal binding debt and is payable on demand to the holder of the note.
The quickest way to implement this procedure is to go down to your local office supply store and pick up the notes. Before hiring any individual, inform them that they are required to sign a note and must provide their bank account information.
Once information is gathered, file the paperwork at the courthouse so that you have an official record of the promise to pay. Inform the employee that if he/she quits and does not return the company assets entrusted to them you will call in the note.
Explain that if they quit your employ to start a business and solicit your existing clients you will take them into court to collect on the note. Also you will be contacting their bank of the outstanding
I was thinking today about those people who come to us for help.You know, the Customers.And the only reason I’m bringing this up is because of some of the comments that were posted on that major web site about that organization that helps people beautify their homes had been just sort of swimming around my head the past day or two.And it got me to thinking about how we “train” our clients to accept the level of service we wish to provide.I’ll say it one more time.We train our clients to accept the level of service that we wish to provide.Now if this is not hitting home with you, go ahead and turn off the computer. You don’t need to read this article at all. Just go and watch the game, or a movie or purple dinosaurs with cute names.I’m talking about
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 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 allowable by law and then the note is filed at your local courthouse and is on file as a legal binding debt and is payable on demand to the holder of the note.
The quickest way to implement this procedure is to go down to your local office supply store and pick up the notes. Before hiring any individual, inform them that they are required to sign a note and must provide their bank account information.
Once information is gathered, file the paperwork at the courthouse so that you have an official record of the promise to pay. Inform the employee that if he/she quits and does not return the company assets entrusted to them you will call in the note.
Explain that if they quit your employ to start a business and solicit your existing clients you will take them into court to collect on the note. Also you will be contacting their bank of the outstanding
There was a time before the recession when you didn’t have to analyze precisely what parts of your leadership message worked. Whatever you were saying seemed to get the job done; a PPT presentation full of facts, statistics and quotes. Perhaps you have been called to action with a company memo or a training mandate. Change initiatives were launched from above yet when the dust settled after the wagon train pulled out, the flame ebbed until an emissary was sent to puff on the embers. These were rational approaches, however, not very creative.The disruptive changes of the new economy requires something different. Change can no longer be imposed, it must be facilitated. A strategy has emerged that persuasively delivers the content of dry analysis, linking it together into a compelling illustr
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 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 allowable by law and then the note is filed at your local courthouse and is on file as a legal binding debt and is payable on demand to the holder of the note.
The quickest way to implement this procedure is to go down to your local office supply store and pick up the notes. Before hiring any individual, inform them that they are required to sign a note and must provide their bank account information.
Once information is gathered, file the paperwork at the courthouse so that you have an official record of the promise to pay. Inform the employee that if he/she quits and does not return the company assets entrusted to them you will call in the note.
Explain that if they quit your employ to start a business and solicit your existing clients you will take them into court to collect on the note. Also you will be contacting their bank of the outstanding
Six Sigma methodologies aim at improving overall quality by eliminating defects and achieving near perfection by restricting the number of possible defects to less than 3.4 defects per million. Six Sigma methodologies were originally developed for implementation in the manufacturing sector but with time their use has spread to the services sector as well. In the services sector, Six Sigma concepts are used mainly for eliminating transactional errors.Today, the concepts and methodologies of Six Sigma are increasingly being used in the healthcare industry for improving the quality of services rendered, increasing efficiency, and eliminating human errors that can often prove fatal. However, the use of Six Sigma in the healthcare industry is a relatively new phenomenon as compared to other servi
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 allowable by law and then the note is filed at your local courthouse and is on file as a legal binding debt and is payable on demand to the holder of the note.
The quickest way to implement this procedure is to go down to your local office supply store and pick up the notes. Before hiring any individual, inform them that they are required to sign a note and must provide their bank account information.
Once information is gathered, file the paperwork at the courthouse so that you have an official record of the promise to pay. Inform the employee that if he/she quits and does not return the company assets entrusted to them you will call in the note.
Explain that if they quit your employ to start a business and solicit your existing clients you will take them into court to collect on the note. Also you will be contacting their bank of the outstanding
Preparing for job interviews, candidates try to collect information to formulate their best answers to questions that are most likely going to be asked. Despite this extensive preparation, the actual interview could turn to be boring. Worse still, you could begin to sense the interview’s failure. Unless you do something to turn the situation around, it is going to be a battle lost. So what better way to save the interview than by asking a few pertinent questions? (Hint: you should be doing this anyway!)Top 7 Questions You Should Ask An InterviewerThe questions you ask should not just be for the sake of asking but they must demonstrate your interest in the position and the company. In addition, the more seriousness and earnestness with which you ask them the more they are impressed wi
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 allowable by law and then the note is filed at your local courthouse and is on file as a legal binding debt and is payable on demand to the holder of the note.
The quickest way to implement this procedure is to go down to your local office supply store and pick up the notes. Before hiring any individual, inform them that they are required to sign a note and must provide their bank account information.
Once information is gathered, file the paperwork at the courthouse so that you have an official record of the promise to pay. Inform the employee that if he/she quits and does not return the company assets entrusted to them you will call in the note.
Explain that if they quit your employ to start a business and solicit your existing clients you will take them into court to collect on the note. Also you will be contacting their bank of the outstanding
When a group of Human Resources professionals and a group of employees were asked the question, “What would increase productivity” the number one answer for both groups was ‘productivity would increase if working relationships were better.’What is often lacking in work relationships is respect. Bosses often have poor listening skills, don’t know how to manage their stress and the result is lost trust, and low levels of loyalty. Employees fight amongst themselves, call in sick when they want a day off and lack the motivation to get the job done efficiently. One of the easiest ways to increase teamwork is to simply start showing respect, and working to earn more respect.Modern definitions of respect include feeling or showing honor or esteem for; and a second definition is to treat w
The reason it is binding is that the person signing it agrees to pay the predetermined maximum amount allowable by law and then the note is filed at your local courthouse and is on file as a legal binding debt and is payable on demand to the holder of the note.
The quickest way to implement this procedure is to go down to your local office supply store and pick up the notes. Before hiring any individual, inform them that they are required to sign a note and must provide their bank account information.
Once information is gathered, file the paperwork at the courthouse so that you have an official record of the promise to pay. Inform the employee that if he/she quits and does not return the company assets entrusted to them you will call in the note.
Explain that if they quit your employ to start a business and solicit your existing clients you will take them into court to collect on the note. Also you will be contacting their bank of the outstanding note which could put a freeze on their account.
It should give your employees some food for thought. If they do not return company property they risk going into court and having the note called in. If they solicit your customers they risk going into court and having the note called in.
On final point. If the employee wants the note cancelled then they would be required to pay the maximum allowable amount on the note to the note holder. But only if the note holder is willing to cancel the note.
Once paid, the note becomes null and void and is destroyed. It also allows the employee the freedom to become a competitor without legal recourse against them from the former note holder.
Make sure to check with a local attorney to determine what guidelines to follow when implementing a promissory note agreement. Also check with your local small claims court to learn what the maximum allowable amount a note can be issued on an individual. Become familiar with the filing process at your local courthouse.
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