Shark Infested Waters – Navigating Charlatans, SCAMMERS, and ‘Snake-Oil’ Salesmen

Smart business owners get help for areas where their own knowledge is lacking. If chosen correctly, these outside resources are truly experts in their fields. But how do you ensure that you are hiring qualified professionals and not con artists? In a digital marketplace where anyone can appear to be reputable and everyone claims to be an expert, no one is impervious to potential ‘shark attacks.’ Finding the RIGHT experts to fill your business needs can make the difference between success and financial damage with ruinous setbacks.

As you grow your business, predators will be on the hunt, trying to strip you of your hard-earned money.  I was scammed by an individual who was a direct referral from a trusted source. Because of the high recommendation, I let down my guard and lost both time and money.

The recommended consultant presented some very impressive credentials. The company claimed to have previous experience working on the type of marketing campaign I was seeking. And they were referred by a friend. I made assumptions. I went beyond what was expected of me as a client, investing more than the original fee to provide personal support. I assumed they had my business’ best interest at heart. They did not.

These are the signs I noticed before I went too far down the road:

1. There was a lot of talk, but no actual work being performed.
2. It appeared they did not, after all, have the experience they claimed.
3. When I questioned them about the lack of work being performed, there was silence on their end, followed by scare tactics: “I’m the only one who can put you on the map to propel your business to the next level.”

Recognizing the scammer red flags, I immediately terminated the business relationship. It was the best thing I could have done for my business. Since then, I have put myself on the map with the help of credible experts.

Being scammed can happen to any of us. The best way to identify these scammers is to ask a lot of questions and hold people accountable each step along the way.

Here are a few things to remember:

• Scammers pretend to be someone you trust. They seem believable by pretending to be business owners themselves.
• Scammers create a sense of urgency. They rush you into making hasty decisions before you have time to research them. Reputable experts will not pressure you into making quick decisions or payments.
• Scammers use intimidation and fear. They tell you that something terrible will happen to your business if you don’t hire them to help you.
• Just because they came to you as a referral, doesn’t mean they are the EXPERT FOR YOU.
• It’s not personal. It’s just business – Just because they are your friend, doesn’t mean they are the expert for you.
• ALWAYS GET IT IN WRITING – A clear, concise contract that defines what work will be accomplished and what compensation will be transferred for said work is an absolute must. If they do not produce what was promised in the first stage of the relationship, it is up to you to hold them accountable each step along the way.
• Don’t be afraid to shop around and circle back. You wouldn’t trust your home rebuild to the first contractor bid you received. You would get several bids before making your decision. If you would take these basic steps to protect your home, you definitely want to take them to protect your business.
• Y.A. – Cover Your Assets. The only one really looking out for your business is you. Do your job. The business comes first. Due-Diligence is a must.
• Finding the right expert isn’t easy. But once you’ve found the right one, never let them go. Keep good people in your corner.

Disclaimer: This information is made available by Bagla Law Firm, APC for educational purposes only as well as to give you general information and a general understanding of the law, and not to provide specific legal advice. This information should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.