Use Noncompete Agreements To Protect Your Business
Q: One of my former employees has launched an online business very similar to mine and is contacting my clients and trying to steal their business from me. Do I have any legal recourse against him? -- Brad J.A: I hate to break this to you, Brad, but unless this former employee signed a noncompete agreement while on your payroll, there is probably very little you can do to stop him from wooing your customers. You should discuss the situation with your attorney, but unless this person is also breaking the law in some other way (violating your copyrights or trademarks or using stolen trade secrets, for example.) Your attorney will probably concur with me.develop a track record, and attend events where decision makers in these niches will be. Even if you think that ‘everyone’ could benefit from your product or service, narrow your target market to one that you feel comfortable in and where you will have the opportunity to generate a stream of business, not just one sale.Referral partners and vendor partners can grow your Wealth Network. Referral partners are people whose own businesWealth networking is about the NET. Focus on creating the net, and the wealth will follow.

The connection of many individual threads holds a net together. The connection of many individual relationships creates a Wealth Network

There are 3 steps to Wealth Networking. Each step or sub-step is clearly described in a chapter in this series. Print all six chapters, insert into a binder, and you’ll have your own copy of Wealth Networking- Unconventional Tactics in the Campaign for New Business at your fingertips at any moment.

The Three Steps are:

1a) Select the right events to attend and 1b) Prepare for them

2) Be ready to initiate a conversation, 2b) Smoothly end a conversation, and 2c) Create a meaningful card exchange

3) Perform effective post-meeting actions

Select the right events and prepare for them. Attend events where the people you want to meet will be. Attending events where you can network costs money and takes time so focus your Wealth Networking efforts on your best prospects. These are decisions makers who are strongly likely to need your product or service when they are experiencing the pain that your solution alleviates. Even if your product or service is widely appealing, narrow your focus. You’ll get more money from a narrow and deep sea.

You know who your potential customers and clients are by industry, demographics, location, or other means.

• If you have a consumer-focused operation your market is wide, but not unlimited. Attend events that attract people who will comfortably spend at the level of your high end sale.

• If you provide professional services, pick one or two niches in which to develop a track record, and attend events where decision makers in these niches will be. Even if you think that ‘everyone’ could benefit from your product or service, narrow your target market to one that you feel comfortable in and where you will have the opportunity to generate a stream of business, not just one sale.

Referral partners and vendor partners can grow your Wealth Network. Referral partners are people whose own businesealth Networking- Unconventional Tactics in the Campaign for New Business at your fingertips at any moment.

The Three Steps are:

1a) Select the right events to attend and 1b) Prepare for them

2) Be ready to initiate a conversation, 2b) Smoothly end a conversation, and 2c) Create a meaningful card exchange

3) Perform effective post-meeting actions

Select the right events and prepare for them. Attend events where the people you want to meet will be. Attending events where you can network costs money and takes time so focus your Wealth Networking efforts on your best prospects. These are decisions makers who are strongly likely to need your product or service when they are experiencing the pain that your solution alleviates. Even if your product or service is widely appealing, narrow your focus. You’ll get more money from a narrow and deep sea.

You know who your potential customers and clients are by industry, demographics, location, or other means.

• If you have a consumer-focused operation your market is wide, but not unlimited. Attend events that attract people who will comfortably spend at the level of your high end sale.

• If you provide professional services, pick one or two niches in which to develop a track record, and attend events where decision makers in these niches will be. Even if you think that ‘everyone’ could benefit from your product or service, narrow your target market to one that you feel comfortable in and where you will have the opportunity to generate a stream of business, not just one sale.

Referral partners and vendor partners can grow your Wealth Network. Referral partners are people whose own businests and prepare for them. Attend events where the people you want to meet will be. Attending events where you can network costs money and takes time so focus your Wealth Networking efforts on your best prospects. These are decisions makers who are strongly likely to need your product or service when they are experiencing the pain that your solution alleviates. Even if your product or service is widely appealing, narrow your focus. You’ll get more money from a narrow and deep sea.

You know who your potential customers and clients are by industry, demographics, location, or other means.

• If you have a consumer-focused operation your market is wide, but not unlimited. Attend events that attract people who will comfortably spend at the level of your high end sale.

• If you provide professional services, pick one or two niches in which to develop a track record, and attend events where decision makers in these niches will be. Even if you think that ‘everyone’ could benefit from your product or service, narrow your target market to one that you feel comfortable in and where you will have the opportunity to generate a stream of business, not just one sale.

Referral partners and vendor partners can grow your Wealth Network. Referral partners are people whose own business. You’ll get more money from a narrow and deep sea.

You know who your potential customers and clients are by industry, demographics, location, or other means.

• If you have a consumer-focused operation your market is wide, but not unlimited. Attend events that attract people who will comfortably spend at the level of your high end sale.

• If you provide professional services, pick one or two niches in which to develop a track record, and attend events where decision makers in these niches will be. Even if you think that ‘everyone’ could benefit from your product or service, narrow your target market to one that you feel comfortable in and where you will have the opportunity to generate a stream of business, not just one sale.

Referral partners and vendor partners can grow your Wealth Network. Referral partners are people whose own businesdevelop a track record, and attend events where decision makers in these niches will be. Even if you think that ‘everyone’ could benefit from your product or service, narrow your target market to one that you feel comfortable in and where you will have the opportunity to generate a stream of business, not just one sale.Referral partners and vendor partners can grow your Wealth Network. Referral partners are people whose own business activities surround yours yet have a gap inside that you can fill.

• For example, sales trainers teach sales people a system of selling. Eventually the sales process will lead to a sales presentation. I work with the sales trainers’ own clients on their presentation skills.

• Perhaps your business is corporate gift giving. A good referral partner for you could be a marketing services firm who advises companies that from time-to-time a corporate gift should be part of the marketing plan. You would provide that gift.

Take time to imagine a variety of possibilities that would bring individual threads together for a stronger, more focused net. Create partnerships with vendors whose customers are the same as your customers. An office supply company and a copy machine company have the same customers. Realtors, appraisers and lenders have the same customers. Alternative medicine practitioners can have the same clientele as nutritionists and personal trainers. If you don’t know the other vendors that your clients patronize, just ask them.

Wealth Networkers go where their best prospects go. These include professional and/or industry association meetings and conferences; places related to their status (CEOs, CIOs, etc.); community and educational events that attract your prospects.

When you join and participate in industry/professional organizations you:

• Learn what is on their minds

• Get educated about their problems and their desired solutions

• Demonstrate your interest and desire to help them.

Become an active volunteer in the organization. Develop relationships with people as you work together on a common goal. You will show that you are trustworthy and caring, and someone