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With offers with low barriers of entries...

by socialentry
7 replies
How do you prevent say an account manager from running away and simply copying your business model?
#barriers #entries #low #offers
  • Profile picture of the author ImDanHoward
    Hey Socialentry...

    You could have them sign a NDA (Non Disclosure Agreement) or a Non Compete Agreement. Those are two things you could put into action to help.
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  • Profile picture of the author Rearden
    Therein lies the rub.

    The inherent nature of capitalism is that, in order into a large organization beyond yourself, you trade your knowledge and experience on the potential for others to copy and improve.

    Protect your assets -- your financials, your business model, your client list; assume they will be taken.

    Non-competes rarely are held up; and, if you end up suing the guy, expect to pay 5-figures to your lawyer (who'll be the only winner) before you see him in court. Then good luck actually collecting on damages.
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  • Profile picture of the author TopKat22
    Keep key elements to yourself. Very few offline businesses (at least in my experience) would bother with trying to figure it out.

    If you make them way more money than you cost them, they will just keep letting you do your thing and reap the rewards.

    I guess the first thing is to only deal with people of high integrity.

    I've always said in any business deal, never do business with anyone if you don't trust them enough that a simple hand shake can close the deal. The contract then is just to remind everyone of the details.

    Because in fact, most contracts are too costly to force compliance anyway.
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  • Profile picture of the author Rearden
    Social Entry: PS -- your marketing approach is probably going to be your biggest asset if you're effective.

    Keep that to yourself.
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    David Duford -- Providing On-Going, Personalized Mentorship And Training From A Real Final Expense Producer To Agents New To The Final Expense Life Insurance Business.
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    • Profile picture of the author Irish Intuition
      Originally Posted by Rearden View Post

      Social Entry: PS -- your marketing approach is probably going to be your biggest asset if you're effective.

      Keep that to yourself.
      That is good advice.

      All ideas get 'borrowed' at some time or another. If they go after
      your clients and you have a non-compete you may be able
      to stop them. That said it is not an easy battle having a non
      compete. It needs to go to litigation and that costs big $$$

      Worry less about getting ripped off and more about branding
      yourself/business.
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  • Profile picture of the author Rearden
    Right. There are a lot of pikers out there who think they can do it better than the boss can.

    Then they realize that running a business is more than simply sales or technical aspect of the business, especially if they wish to grow it beyond a one-man show operation.
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    David Duford -- Providing On-Going, Personalized Mentorship And Training From A Real Final Expense Producer To Agents New To The Final Expense Life Insurance Business.
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    • Profile picture of the author ShayB
      If possible, have certain people do only one part of the process, like an assembly line.

      For example, in my biz, the process is:

      Marketing
      Follow Up
      Recording an Interview
      Having it transcribed
      Formatting it for a Print on Demand Service
      Uploading the PDF
      Ordering the proofs, etc.

      By having each person doing only one part, they only see pieces of the puzzle, not the whole picture.

      It would be difficult for them to duplicate the biz model this way.
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      "Fate protects fools, little children, and ships called Enterprise." ~Commander Riker
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