Avoid business costly business mistakes - practice due diligence and commit contracts in writing

Let us promote entrepreneuralism

From Inc by Jean Bilik | June 20, 2013

Philippines   |  June 30, 2013

You are a start up entrepreneur;  your heart is on fire and your sales is on a roll and everything is positive.  You are  very positive and you come across all types of people who want to share your success;  some are real but some are street smart who are out to rip you apart.  (not just your pocket)

Jean, the CEO of Knock knock was bilked to the tune of $l.5 million by a mentor and a friend who brokered her manufacturing in China.  She did not watch her transaction with the friend close enough.  Some of her advice so that you will not be gypped:

l.  If it sounds too good to be true, well it is...

2.  Put all contracts into writing, make all conditions prices terms very clear in unmistakeable  terms and language;

3. Only the paranoid survive;  there are no friends

4.  Ask for original documentation (on line processing may be good but you can be fooled)  ask for original vouchers, invoice, deposit slips

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