Are you considering taking a job in direct competition?
First and foremost, think about why the competition wants you and what are their needs.
Focus not only on the general job description but also on real expectations between the lines.
In general, statistics show that expectations of companies hiring a competitor’s manager are much higher than real possibilities, especially in terms of expected knowhow or quality of contact leads generating immediate income.
Therefore, transitions to competition have been successful for only a quarter of such changes over the long term and it is usually common among managers up to 35 years old or over 55 years old.
So what is important during the negotiation process to turn it into success?
Read you job description very carefully and make sure that you lawyer reads the competitive clause so you can be sure about consequences of your decisions.
Consider the new job as the next career step. Will you be moving towards your long term goals? Will you be learning something new with regards to the industry or your job description?
Ask yourself whether you would be willing to work at this position for the company for free for half a year. If you choose the job because it is financially attractive, there is a good chance it is going to be a short-term position with marginal effect on your long-term goals.
Make sure, your relationships (internal as well as external) are good. Make time for your key contacts.
Inform your manager about signing the contract with competition even though he/she will be angry and disappointed. You never know what life may bring and the best thing is to be open and straightforward.