Being shafted is unfortunately a reality in the business world. And if you’re prepared for it, you can make the best of the situation – either lessen the impact or sometimes even avoid it altogether. And the worst that can occur is to be blindsided … to be shafted without even realizing it was going to happen. Being blindsided leaves you reeling and often unable to react strategically. Don’t let this happen … keep an eye out for signs that indicate you may be in danger of being shafted.
1. Your competitor wants to work with you on a joint project
It can be exciting — and certainly a little flattering — that your competitor suddenly wants to work with you. Don’t be flattered. They are your competitor for a reason. Collaboration is different. You don’t collaborate with a competitor, rather with someone with whom you can share benefits across platforms or businesses. If your competition wants to work with you, a shafting might be on the game plan… keep your wits about you.
2. You are being flattered, more than normal
If someone is flattering you to no end — and without much reason — it usually means they are about to shaft you or they already have. The flattery is often delivered with an excessive smile and outrageous compliments that should make you question what they are really on about. Just nod and move on. Don’t get sucked in and be beguiled into revealing what you are doing in business.
3. If it looks too good to be true, it is likely not true
Nothing has changed in hundreds of years. If it looks too good to be true, IT IS too good to be true. I am not saying be negative about everything that comes your way — such as a great opportunity. Just that you need to do your due diligence and make sure you know everything about this “opportunity” before moving forward. There is often a sinister component to these offerings.
4. You’re told there is limited time to commit
Let’s face it, there’s always time. If you are being rushed into a decision don’t make it. If it is genuine then it will be around in a week or a month. You should take your time to think about it and discuss with your business partners or advisors.
5. You hear those two words ‘trust me’
Ha! Famous last words people hear as they’re feeling the steel slip in between their shoulder blades. If someone needs to say “trust me” then you can guarantee 99.9% of the time they are untrustworthy. Run.
6. You’ve told people about your ideas
You discuss a project idea with someone, and three months later you read about the launch of that idea. This is a lesson we all learn at least once in our lifetime. You think someone is a trusted advisor or friend when in fact they are just pumping you for information or ideas as they don’t have the same ability as you. Then before you know it they launch the idea or business without even telling you about it.
7. They don’t want to put it in writing
Be wary when all discussions are done via the phone or in person. Discussions on the phone or in person are fine, but unless it is agreed to in writing by both parties thereafter, you are right in line to get screwed over.
Sometimes it is best to have another party to sign a confidentiality agreement before opening your mouth.
