Business Betrayal By A Friend I Trusted... - Business - Nairaland
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| Business Betrayal By A Friend I Trusted... by lazeal(op): 6:45pm On Mar 11, 2018*. Modified: 7:12pm On Mar 11, 2018 |
Hello Nairalanders, |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 6:46pm On Mar 11, 2018*. Modified: 7:11pm On Mar 11, 2018 |
In order to give him control, to make him feel like team member, I decided not to get in touch with the client, neither did I request for their name or contact... this was my greatest mistake. I did this because I trust him because our friendship had gone far such that if i need any worker, I ask him to refer someone to me. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 6:47pm On Mar 11, 2018*. Modified: 7:52pm On Mar 11, 2018 |
Anyway, he eventually gave me a phone number but a dead one that is always off (it was easy because he said the girl told him she off her phone because of someone else), he claimed he is only able to get in touch with the girl via the mother's phone. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 6:47pm On Mar 11, 2018*. Modified: 7:52pm On Mar 11, 2018 |
The text I sent, while still being silly, I used his phone to type it. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 8:04pm On Mar 11, 2018 |
Since I know the final destination of the proposed idea, I have started making inquiries in order to get the top man of the place. I know a place like Nairaland would have helped me faster in solving this problem but I am worried at the same time about the information going too public. I wish there was a way for me to get this done easily and get in touch with the client. |
| Re: Business Betrayal By A Friend I Trusted... by blessedvisky(m): 11:28pm On Mar 11, 2018 |
Hmm. Na wa oo. You gave him too much Control. Well, you have learnt |
| Re: Business Betrayal By A Friend I Trusted... by modernWays: 12:15am On Mar 12, 2018 |
Just listen to yourself, you left everything for him just because you trusted him or you dont have time to do it by yourself? He has out smart you sir, but in case of next time, if you want to entrust enything in the hands of others even your blood relatives, make sure you hold an important key/secrete that he/she cant bypass without. An written agreement backed by law is not enough when dealing with close friends, relatives or dubious persons. And most importantly, never trust any human being with your money, ideas and woman. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 5:58am On Mar 12, 2018 |
modernWays:He can't get the product. I am the only one that knows where to get it. Thanks for ur other words. |
| Re: Business Betrayal By A Friend I Trusted... by modernWays: 7:31am On Mar 12, 2018 |
lazeal:Since he cant get the product to supply the said person, i dont see why you're troubling yourself over this issue. Just let him be for now, it is possible he is afraid of being sideline just like you( especially since your brother is involve). Except he had got the secrete of where to get the product, no one will hide such information and be successful if you actually have the final says on the product. Dont spoil your relationship with him now, just relax, ignore and wait for him to ask you about the product. This is where you demand to speak with the buyer and stands on your right. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 8:09am On Mar 12, 2018*. Modified: 12:03pm On Mar 12, 2018 |
modernWays: You are right. I have no intention of sidelining him. I even told him if he has added more money to what what I proposed, he should take it but let me speak to the man and safe the whole situation. |
| Re: Business Betrayal By A Friend I Trusted... by Shamsedeen(m): 10:40am On Mar 12, 2018 |
You seem to believe that guy is your only hope. Don't you think if you mention the product or give a little idea of the business here,you might get a better and trust worthy partner? It's quite ok to guide your idea jealously but you don't have to be rigid. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 12:00pm On Mar 12, 2018 |
Shamsedeen: Lol bro, I am not thinking he is my only hope and he knows I am his only hope rather as you would find out soonest. I was only being patient because that is me naturally so that when people hear my story, they wouldn't blame me |
| Re: Business Betrayal By A Friend I Trusted... by iHart(m): 11:44pm On Mar 12, 2018 |
the business has not actually matured so nobody is betraying you! |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 1:27am On Mar 13, 2018 |
iHart: He was actually hiding something but I made it clear that I would pull out since he does not want me to get in touch. I mean this whole thing is my whole idea and I have even shared our next move with him, however after this experience with the advice of others here, he will have to sign some legal docs before I will take him on the train cos the next one has an even bigger and better potential than this. |
| Re: Business Betrayal By A Friend I Trusted... by MrMcJay(m): 6:07am On Mar 13, 2018 |
OP, Get a lawyer to prepare a memorandum of understanding between both of you. Let there be confidentiality, non-compete and profit-sharing clauses in it. Thereafter, get it executed at the High Court. If he tries to act funny, his signature on that document would be the beginning of his sorrows. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 7:54am On Mar 13, 2018 |
MrMcJay:Thanks so much for this. God bless you. I have started by limiting my interactions with him for the past few days now. |
| Re: Business Betrayal By A Friend I Trusted... by Celcius: 11:47am On Mar 14, 2018 |
@lazeal I'm sorry this happened to you. These are some of the challenges we try to address while working with startups/entrepreneurs. @MrMcJay made a good point. All of it you will find in a piece I posted today- http://www.foddscapital.com/partnering-finance-challenge/ No matter what the scale of business might be, it is best to get an MoU. Now, if you can not look a partner in the eye and say you need to write an MoU, this will be our general assumption: 1. That the business is not set to grow 2. You are desperate or afraid of your partner. All a recipe for failure. We should always note that as business grows, it becomes increasingly difficult to allot shares and assets. |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 2:18pm On Mar 14, 2018 |
Celcius:Thanks so much for this. I have taken note of every tips shared here. I do hope everything works out later so I can share the good news with everyone and also seek your advice on structuring my idea into an establish company or organization. |
| Re: Business Betrayal By A Friend I Trusted... by LaudateII: 2:29pm On Mar 17, 2018 |
lazeal:I am sorry about all what you went through, but there are a lot of unexplained aspects. I read your story and I have a few questions. 1). Have you supplied any product/service through your friend to a particular person/company/3rd party? Or are you just seeking for a contract, to be given to you or your friend, so that you can both supply the goods/services? ![]() 2). Do you have any proof that the supplies were actually made to that specific person/company/3rd party, by your friend? 3). Do you have any info on the time period for payment (e.g. 30 days or 45 days etc) or can you ascertain exactly how long it takes, for payment to be made, after goods/services are supplied? 4). If it is a genuine deal, most people/companies/3rd parties who require the goods, or those who have received the goods, would definitely have an idea of what you were talking about, when you called them on the phone. At best, they might ask you to call someone else in charge of that aspect within their organisation, by giving you another name, e-mail or number to call. At worst, if they do not want to divulge information on the phone, they might ask you some relevant questions such as:a). What is the name of your firm, when were the goods/services delivered, and to whom? b). Ask you to write a formal letter stating the whole transaction and how it took place, so they can direct it to the relevant authorities, within the firm. c) List out the relevant procedures/steps you need to go through, to actually get the contract. It may not get you the deal at the end of the day, but you would have gotten relevant information, on how next to proceed. ![]() Finally, your friend is not being transparent and honest. He is not divulging relevant facts, and his secrecy could cause you to lose money and reputation, at the end of the day. Please be careful with him. If there is truly a contract in place, (as in there is a specific person/company/3rd party who truly requires your goods/services), then your friend should show you details of the contract and/or the LPO for the job. Then make sure you keep a copy with you, which you can go and verify at the firm which issued it. Last word: If you decide to proceed further with this friend, please ensure you both agree on the rules of engagement. There should be a minimum amount of info, that he needs to provide to you, like customers' name, delivery point, LPO copy and payment period. If he cannot give you all these, kindly walk! |
| Re: Business Betrayal By A Friend I Trusted... by lazeal(op): 4:44pm On Mar 18, 2018 |
LaudateII:We are seeking the contract after the saw a sample of it at his place visit. They came for something else and developed interest and that was how it started. At the time they visited, we were trying to deal with another people. 2). Do you have any proof that the supplies were actually made to that specific person/company/3rd party, by your friend?only sample has been shown to them for demo, no supply yet. 3). Do you have any info on the time period for payment (e.g. 30 days or 45 days etc) or can you ascertain exactly how long it takes, for payment to be made, after goods/services are supplied?There are no time duration fixed on it. They keep promising that payment will be made. It was while waiting cos of delays that I urge my friend to find out if anything like this is going on at the final destination for the product and the response he said he got is that there are discussions already in motion and which the man found out and became angry with us for making inquiries behind his back. 4). If it is a genuine deal, most people/companies/3rd parties who require the goods, or those who have received the goods, would definitely have an idea of what you were talking about, when you called them on the phone.Thank you sir. No goods has been supplied just yet because the agreement is that they pay part before we supply. Technically, the man is reselling to the the final destination after paying us off. So my understanding is that he is waiting for final instruction from them and he doesnt want to stock the product without getting final approval from them. Please can I send you a pm? |
| Re: Business Betrayal By A Friend I Trusted... by F3JS6r8: 6:26pm On Mar 18, 2018 |
iHart |
| Re: Business Betrayal By A Friend I Trusted... by iHart(m): 8:32pm On Mar 18, 2018 |
F3JS6r8:what can i do for you? |
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At best, they might ask you to call someone else in charge of that aspect within their organisation, by giving you another name, e-mail or number to call. At worst, if they do not want to divulge information on the phone, they might ask you some relevant questions such as: