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Start-up Street: When business advisors cheat entrepreneurs

Not always and not often, but there are business advisors who lack the ethics and strike deals for personal gain. Here’s what entrepreneurs must be watchful about…   

May 18, 2023 / 08:43 AM IST
Start-up Street: When business advisors cheat entrepreneurs

Certain business or financial advisors can take advantage of the lack of knowledge and the faith reposed in them by entrepreneurs and mislead them or defraud them.

Whenever certain things look promising, you can be sure of two things: one, like lemmings, many will gravitate towards it. Two, a number of dubious players will quickly emerge waiting to take advantage of the former. The same phenomenon has happened with the sudden boom in start-ups in India. Everyone and his uncle are entrepreneurs. And hey presto, out of the woodwork have surfaced a number of advisors and mentors all claiming to offer the magic potion for entrepreneurial success. Unfortunately,...

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