Fraud protection through transparency is the new way of doing business. Let’s face it…the old ways of doing business are dying. Long gone are the days of hiding information or passing a sub-par service off as legitimate. Your clients know when something doesn’t seem right, they feel it just as you do when you engage with someone who isn’t being authentic. Today’s customer looks for businesses that operate within some sort of ethical code, moral based system, or have a foundation of social entrepreneurism. It’s simple really… people want to connect. They’re looking for authenticity and they want to know they can trust the businesses they engage. People are tired of getting ripped off and they’re tired of giving money to the wrong people. They want to know who is behind the business, what they stand for, and if they operate in integrity. Yes, your clients still want value, [...]
How to do a Background Check: Where the Spy World meets the business world – Understanding Due Diligence.
I is important to understand that even if you know how to do a background that background checks do NOT constitute full due diligence. The concept of due diligence is vast, obscure and overwhelming. Most of our clients privately confess to us that they only have a vague idea of what due diligence means and absolutely NO idea how to do it. Sound familiar? If so, don’t worry, you’re in good company. Most people throw around the term due diligence and claim they do it, but secretly hope no one ever asks them specifics about it. Most never really understand what it is, when to do it, where to look for information, who to trust to do it, etc. and so on. BusinessDictionary.com defines due diligence as: “The duty of a firm's directors and officers to act prudently in evaluating associated risks in all transactions.” What we have discovered is [...]
All the training in the world and all of the information on how to do a background check won't protect your business. The government does background checks and they don't work. As you may recall the Office of Personnel Management had a major security breach in June, affecting 14 million individuals who hold security clearances. A recent Business Insider Article titled “The US agency plundered by Chinese hackers made one of the dumbest security moves possible” covers some of the major issues that led to the breach of information. The article points out some “common sense” security practices, such as basic data encryption, that were overlooked by OPM. But encryption was not the biggest failure…not doing any due diligence on the service provider is what ultimately brought about the security breach. Did they do a background check? Most likely. Did they fully vet the people, definitely no. The article highlights [...]
Business fraud is easily prevented when you do your due diligence. However, the concept of Due Diligence is both confusing and terrifying to most business owners. People constantly come up to us and, in hushed, confidential tones, confess they have no idea how to do due diligence for their business. They’re typically scared of trusting the wrong person, but they don’t know how to make sure to find the right one. That’s where we come in. By demystifying the due diligence process, we empower business owners to take control of their decision-making process and operate with confidence. We help them verify that the people they involve in their business are who they say they are and can do what they say they can do. This minor tweak to their business approach changes EVERYTHING. Imagine this scenario: Your business needs a new website. You open the yellow pages, contact your network [...]
There are all different types of fraud business owners should look for. However, when your looking to raise capital, fraud is typically the last thing on your mind. That's because raising capital is exciting. Having the money to fuel your business is an entrepreneur’s dream. The reality of the matter is there are scammers, fraudsters, and “opportunities” out there that prey on entrepreneurs raising funds. We call these types of people “Vulture Capitalist.” Getting involved with a Vulture Capitalist is one of the fastest ways to lose your dream. Here’s how to recognize Vulture Capital: The opportunity requires sizable money up front. This is ALWAYS a red flag. If you have to pay money up front before you actually receive ANY capital, then buyer beware! If you owe money up front in the form of a “finder fee,” a “funding fee,” a “service fee,” etc…then you’re at risk of being [...]
You have a security alarm installed to protect the valuables in your home, but what kind of protection do you have for your valuable business? Partners, investors, employees… All sorts of people come and go in your business. Maybe you’ve found out the hard way, but not everyone is who they say they are. Not everyone is on the up-and-up. And not everyone can be trusted. Wouldn’t it be great if you could tell ahead of time whether someone is worthy of your trust? Wouldn’t it be great if you knew before you let in the wrong people who “robbed you blind?” Getting involved with scamsters and frauds can be incredibly expensive , it could even cost you your entire business. Trusting people without doing proper due diligence is taking a gigantic – and totally unnecessary business risk. You deserve to know exactly who you’re dealing with and whether they’re [...]
I get it. The title of this post doesn’t immediately connect to Due Diligence. But trust me when I say the connection is clear, distinct and extremely significant for your business. Things they are a-changing. If you don’t see this in your particular business sector, look again. Since the onslaught of social media, peer review sites, internet marketing and the global village, business-as-usual ceased to exist. The statement, “The only constant is change,” has never been more true. And it’s affecting your bottom line. Everyone knows this. And everyone’s scrambling trying to provide THE solution to riding these waves of change. But the one topic I hear discussed only in backrooms and mastermind circles is Enlightenment. Call it what you will: awareness, consciousness, intuition, energy, super-hero powers, whatever; it all results in the same thing. Your clients, customers, industry partners, competition, vendors, and team members are tuning in and turning [...]
Your business relationships depend on your ability to effectively communicate your needs, your goals and your vision. Knowing what questions to ask and understanding how people process and internalize communication is THE essential element for business success. Avent-Guard™ provides the tools and tips on how to verify the information you are given so you can protect yourself and your business.
As the CEO of your company you are the visionary for your business. It’s the visionary’s job to focus and create opportunities that drive the company forward. However, business is like magic in that if you focus on what the magician appears to be doing (like they want you too) then you miss what is actually happening (the trick). When you are too close to the vision, you miss the factors that sway you from the vision and invite in risk. Avent-Guard™ gives you the tools necessary to filter out the “tricks” that put your business at risk.
How many times a day do you abdicate your power in your business? How many times a day do you do something that doesn’t feel right or is not in line with your business or your purpose? The number one reason why business owners HAVE to perform due diligence in the first place is because they continue to abdicate their power to others. Whether you’re a man a woman, a seasoned business owner or a starting entrepreneur Clear Business DirectoryTMprovides the tools you need to stand in your power and build success!