Backstabber Protection (or, Why a Good Offense is the Best Defense)
So your start up is begining to turn a profit, and you're ready to reap the rewards of hard work and sacrifice. Then, like a scene out a soap opera, you find out your most trusted manager is starting a rival company behind your back. Sure you need to take the backstabber to court, but there are ways to protect yourself before it gets to that point. The Kaufman Foundation has a seris of useful articles outling options entreprenuers should take to watch their backs. Some key ideas:
"Insist that employees sign a non-compete/non-solicitation agreement at the time of hire. Just as important as putting the agreement in place, however, is ensuring it is reviewed regularly with employees. In my company, employees are reminded of the agreement they signed at the time of their annual performance review."
"Ensure contracts are in place with every client-even if work for that client is intermittent. Once a client relationship is established, it is easy to assume that it will last as long as good service is provided. However, I learned that no matter how strong the relationship, many clients must focus on the bottom line and will be tempted by competitors offering a "better deal." While the agreement I have with clients is not a long one, it does outline terms and conditions regarding terminating the relationship."
"The operations manager is a key player with valuable information about your business, so ensure an oversight process is in place. While you want to trust those you hire, do not overlook the importance of ensuring that checks and balances for key staff members are established and utilized."