How to avoid internet frauds! Can you?
What is due diligence? It sounds like a very fancy business term that has nothing to do with a simpleton like me. I have learned that sometimes, big words are used to hide the most basic truths about life. When you unmask the fancy jargon you realize that, whatever the word refers to, you have been doing for most of your lives.
Ask yourself this question, are there good and bad on earth? Are you a good or a bad person? Whatever your answer maybe, if you look deep enough, you realize, you have been good at some points and been bad at some points in your life. Ask again is there fraud in business? Is there fraud in online business?
If we focused on the bad, and the absence of honesty, ethics, and trust in the business world, “No One would go into business. We have asked a lot of questions and pondered many ideas, let’s look a little deeper.
In the end, we may be wiser when we understand the need for due diligence, how we have been applying it from earlier on in life, and how we could still go wrong when we have done our part.
How can I define due diligence?
This is the stamen that many people would say about due diligence. Let’s simplify the thinking. Due diligence is the act of finding out about a prospective company or business that you are about to have dealing s with to see if it is a correct fit for your needs. This is done to avoid disappointment from corrupt entities, scammers, Frauds, and unscrupulous business practitioners.
In first aid, due diligence refers to the act of doing or covering all that is necessary steps/points to ensure that life is not put at risk. When we juxtapose the first-aid definition to my business definition, it will go –it is the act of covering all the necessary steps/points to find out about your prospective business dealings, to ensure that the life of your wealth, capital, or business is not put at risk.
I have never done this in my life.
When you are a child and you decide or chose not to eat your broccoli, why is that? Using the above definition we may say. Because you are taking precautionary steps to avoid, at first bad taste in your mouth, Secondly the amounts of gas that is about to fill up your tummy, or just that you do not like Broccoli!, by doing that you have saved yourself the harms that are for mentioned. You did this as a child.
Your first experience of going shopping, say shopping for vegetables. Did you just go for the wet and soggy tomatoes’ or did you look, touch, smell, and maybe ask a few questions before buying? Buying clothes, don’t you find out what your size is, get the pants. Go to the fitting room try the pant on and even ask your mom or friend if they look good on you?
If you have done any of the activities mentioned here, you are aware of the basic elements of what due diligence is about.
Well, you cannot then just go into business because you have bought veggies and pants. You will know you need to refine the concept that you are familiar with, that put your needs ahead of anything else first. Finding out your needs in this business venture you are about to go into, Needs Analysis. Identify exactly what you want from that business.
Know what you want.
This will allow you to understand the In’s and the outs of the business you are about to go into. Remember it is not like looking at tomatoes’. There are courses in these fields that you can enroll in.
If you do not have an Online Business yet and would like to start an Online Business so that you can take advantage of this awesome Social Media app, try some of the best online business programs. Starting with My number one choice of all times:
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Look at the most important part of any sign-in, purchases, and acquisition, Financial! The cost of this whole venture is going to set you back and how all that capital is going to be regained and how long it will take you to earn that seeding capital. Buying a business or buying into one is not a lottery, which you buy a ticket once and you are set. Seeding costs can make or break you.
Imagine that friend who invited you to the fair. They just said to you to come with them to the fair. Without asking, you responded yes. When you get there she/ he says know you have to pay entrance. You pay confidently because you think that is it. Now you have to pay for food because you have been walking around long. You have to pay to go to a special show. Now you have to pay for the rides. Not this and that?
If you did not know of all these costs by knowing you are not even enjoying the fair you just want out because you are not even sure when they know you have to, will end.
Knowing your cost does not just mean you are more comfortable knowing. You can decide already if the costs are within your budget. Without these important statistics, you are more inclined to be taken for a ride.
Why most online business feels like Scams.
The World Wide Web has simplified things so much that anything done in this realm has to be easy or it does not belong online. This gives the impression that anything online is a quickie. No Delayed Gratification. That is why scammers succeed. Remember they have also done their Due diligence and have counter moves for all the correct questions you may want to know.
Back to you as a buyer. Need a get-rich-quick plan online? There is nothing as such anything worth keeping you have to work for. Easy come easy go! Many of us are familiar with this saying yet we still want a quick buck! That is how Frauds get to us.
They are slick and tricky – can con a corner!
They are confidence-man, Con Artists. They have made this into an art form. So why would you not fall for them? My first experience of corn artist was so unexpected yet I knew I was being coned; maybe I tried to beat them at their game. Do not con a corner. I learned the hard way. That is a story for another day. My point is yes! There are con artists and they want all your lunch money they don’t care if you lose your life savings. How they get to you is present an easy fix to your financial problems.
You might think they are too lazy to work for their money. They are not.
At the end of the day – this is what I think!
You might be your own worst enemy that is if you constantly are looking for get-rich-quick ideas. The reason I am so always graded is that so artists might be reading all these ideas to try evading them and these are insights into how they can continue to perpetuate their mischief. So I would not bet at really finding them out.
What I will say to Entrepreneurial Online Business Aspirants is, there are no shortcuts to wealth. If there are, they are through some kind of hard work and effort. You get what you put in. If you go looking for shortcuts, be careful you might be the one who gets cut. Our venerability towards fraud is our desire to peak too soon and avoid delaying gratification.
This is what society is learning these days, and unless we create an environment that rewards hard work and Ethics, and honesty. There will be more frauds and scammers trying to make a quick buck and giving us Web Entrepreneurs’ a bad name that we are all scammers.
Do your due diligence and before you start. Know your business, know how much you are prepared to spend, and after how long should you be receiving revenues. This is a measure, it is business after all, and you get what you put in (work).
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