The world is full of frauds. This is the reason professionals are always on guard. They are polite on the face but always cautious. They expect the worst from everyone and consider everyone a selfish person. This ensures their safety and saves their businesses from potential scams. Any professional that doesn’t follow these rules usually ends up becoming a victim. Here are the most common reasons businesses face scams and how you can keep yourself safe from them.
Not Writing Contracts
If someone is offended when you ask them to sign a contract, it means they are either unprofessional or have bad intentions. You should always write and sign a contract before getting started with a project even if you are a new business. Get some contract templates for your business and alter them for every new project.
It’s no longer difficult to sign contracts online, and they are just as legally binding as documents signed by hand. Many new businesses are thankful that they found a client and don’t do anything that could make the client change his mind. They also need to consider if they will be able to afford a scam at this stage if they don’t use a contract.
Not Properly Reading Invoices
It could be a client or your own employee that might tweak invoices. As a businessman or self-employed professional, you can’t fully rely on anyone. You can either check everything yourself or hire another professional to ensure quality and safety. It’s not possible for SMEs to hire outside parties to check all books as they don’t have enough budget.
There have been many cases when invoices shown to the employer and the invoice added in the record were different. You are the only person that loves your work and no one can do a better job than you. It is not impossible to create a business structure and workflow that keeps everything transparent and minimizes the probability of inside and outside scams.
Not Doing a Background Check
You should always do a background check before getting in business with someone. Whether it’s an employee or a client, you should get reviews and references to see if they are reliable. You can’t hire a person to specifically keep an eye on them. While you should take all precautionary measures from your side, it’s still not wise to work with someone with bad reputation. Sooner or later they will find a weak spot and hit you there.