Living Entrepreneurship Blog / Babson Entrepreneurs



Entrepreneurs of all kinds need to be wary of scams in every aspect of their lives and businesses. Scams and cons can come through channels most often seen as flashing advertisements and urgent emails, but we do not always expect them to be on the other side of the table in a nice suit. Keep these tips in mind while vetting out a potential business deal:

  1. Be aware. – Scams happen. People are going to try to contact you for your money or for your information. Be skeptical of those who approach you asking for sensitive information (passwords, numbers, personal information etc.).
  2. Research. – If you are not sure that the person or company that has approached you is trying to con you then look them up. Be sure to look at information that has been produced from multiple sources.
  3. Know your worth. – If people are giving you really low offers, telling you that you owe them something, or are quoting you extremely high numbers, then be skeptical. If the offer is too good, then it probably is.
  4. Ask questions. – You can often catch them off guard by asking probing questions. This works especially well after you have done some research on them. Also ask for references and then follow through with contacting those people.
  5. Don’t be afraid to say NO! – They may to try to get you emotionally involved in the situation. Don’t be afraid to say no and to walk away from the deal.

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