By k | August 31, 2012 - 6:00 am - Posted in New Business Development

When a business is sold,
the intelligent buyer
puts in some sort of non-compete clause.
The seller can’t open
a similar business
in a similar geographical area
for a certain amount of time
after the sale.

Like price,
this clause can be
an emotional stumbling block
for many business owners
so it is often beneficial to think of solutions
before offers are made.

For writers,
dealing with this clause is easy
(we utilize the same tactic
we use to deal with
the right of first refusal clause
found in most publishing contracts).
We write in another genre.
Instead of writing paranormal erotic romances,
we write sci-fi erotic romances.

We can use many of the same skills
and we can benefit from our experience,
ramping up our businesses quickly,
yet we’re not directly ‘competing.’

Of course,
if we don’t sell our companies,
this alternative business
can be a great business to expand into.

What business would you build
if you had to exit your current business?

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