On Trusting People Because of Associations – DON’T

Got an interesting message asking me about someone he might do business with. It was very smart of him to do due diligence.

If anyone tells you or implies that they’re my friend then tries to borrow money from you or get an “investment” ask me first. So easy for people to look trustworthy through associations. I’ve learned this is many times not the case. I’ve learned the hard way. Don’t base your decision on who their friends are. Check for ability to pay, for soundness of plan, for existing debts. Check for a track record of fulfilling obligations not escaping. Every business has downturns but not every businessman retains credibility by showing real commitment through hardwork, honesty, and a willingness to take a personal hit, a lifestyle downgrade, and even embarrassment, before costing others.

And be careful who you lend your credibility to, who you co-sign with, who you vouch for and associate with. When $h!+ hits the fan you’ll be one of the first to stink.
#db

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David Bonifacio

David Bonifacio Entrepreneur, social worker, writer, artist, CEO of Bridge, CEO of Elevation Partners, Managing Director of New Leaf Ventures. #db

2 thoughts on “On Trusting People Because of Associations – DON’T”

  1. Very timely. Question: Does it count if a person does not accept/welcome the value of money in one’s life? Thanks!

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