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Navigating Contract Pitfalls: Non-Negotiables, Non-Competes, and Commission Structures

In this episode, the hosts discuss the crucial aspects of written contracts, focusing on three major red flags: non-negotiable contracts, overly restrictive non-compete agreements, and complex commission structures. They emphasize the importance of legal advice and clear understanding before signing any contract. The episode also highlights how to identify and navigate these red flags to protect one's career and ensure a fair and successful partnership.

• 00:45 Introduction and Recap
• 01:34 Understanding Non-Negotiable Contracts
• 04:00 Navigating Non-Compete Agreements
• 08:25 Decoding Complex Commission Structures
• 11:25 Conclusion and Next Steps

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Navigating Verbal Agreements in Sales: Risks and Precautions

In this episode of Deep Dive, the hosts discuss the importance and risks associated with verbal agreements in the sales world, particularly between representatives and principals. They explore three common scenarios where such agreements might occur—the 'hot lead dilemma,' the 'power meeting temptation,' and involving activities like rep training and product launches before a formal contract is signed. Key points include the importance of documenting agreed terms, understanding the risks of unwritten agreements, and ensuring clear communication to prevent conflicts. The episode emphasizes that while verbal agreements can be necessary, written contracts should always be the goal for protecting interests and fostering strong business relationships.

• 00:45 Introduction to Verbal Agreements
• 01:45 The Hot Lead Dilemma
• 03:06 The Power Meeting Temptation
• 04:32 The Importance of Written Documentation
• 06:03 Conclusion and Teaser for Next Episode

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Mastering Contracts as a Manufacturer's Rep: Essential Tips and Clauses.

In this episode, we delve into the crucial role of contracts in the manufacturer's rep world. After making an excellent first impression and securing a partnership, understanding and negotiating contracts becomes vital. We discuss the importance of having a clear, detailed contract to protect both the rep and the principal. Key topics include commission structures, territory rights, termination clauses, and the significance of having a custom contract drafted by a lawyer. We also explore contract hygiene—staying organized and regularly reviewing agreements. Stay tuned for the next episode where we tackle verbal agreements and their safe execution.

00:35 Introduction and Recap

00:52 The Importance of Contracts

02:34 Key Contract Clauses

05:11 Contract Hygiene

05:49 Conclusion and Next Steps