{"id":2144,"date":"2024-03-26T14:44:18","date_gmt":"2024-03-26T18:44:18","guid":{"rendered":"https:\/\/talkcounsel.com\/blog\/?p=2144"},"modified":"2024-03-26T14:49:15","modified_gmt":"2024-03-26T18:49:15","slug":"why-ignoring-background-checks-is-like-driving-with-your-eyes-closed","status":"publish","type":"post","link":"https:\/\/talkcounsel.com\/blog\/why-ignoring-background-checks-is-like-driving-with-your-eyes-closed\/","title":{"rendered":"Why Ignoring Background Checks is Like Driving with Your Eyes Closed"},"content":{"rendered":"\n<p>Obinna, a young entrepreneur brimming with tech startup ideas, was always ready to hustle. He saw the potential for disruption in everything. So, when a fellow entrepreneur named Femi pitched a revolutionary new delivery app, Obinna was hooked. Femi had the charisma down, the market analysis seemed sound, and he even had a mysterious investor named Gbenga lined up. Excited by the prospect, Obinna jumped in without a second thought.<\/p>\n\n\n\n<p>Months later, Obinna found himself knee-deep in trouble. Shipments weren&#8217;t going out, funds had mysteriously vanished, and his rosy projections turned into a pile of overdue bills. Turns out, Femi&#8217;s &#8220;market analysis&#8221; was liberally borrowed from a competitor, and Gbenga\u2013 the investor\u2013 had a history of financial misadventures. Had Obinna dug deeper, perhaps with the help of a background check, his business wouldn&#8217;t be teetering on the brink of failure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Beyond Employees: The Smart Play is to Background Check Everyone<\/h3>\n\n\n\n<p>Obinna&#8217;s tale is sadly familiar to many small business owners, who sometimes prioritize a quick deal over due diligence. When we think of &#8216;background checks,&#8217; it&#8217;s easy to picture them solely within the context of hiring employees. But the truth is, business owners <em>need<\/em> to think bigger to protect themselves. Business partnerships, supplier agreements, and investor relationships are just as crucial to your success&#8230; and can be just as risky.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Recommendation: <\/strong><a href=\"https:\/\/talkcounsel.com\/blog\/a-guide-to-msas-sows-work-orders-and-change-orders\/\">The Paperwork Tango: A Guide to MSAs, SOWs, Work Orders, and Change Orders<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The &#8220;Why&#8221; of Background Checks (and Why They&#8217;re Not Just Nosiness)<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Protect Your Reputation:<\/strong> Shady business partners or investors with questionable track records can tarnish your hard-earned reputation by association. A background check can help you avoid those ticking reputational time bombs.<\/li>\n\n\n\n<li><strong>Mitigate Financial Risk:<\/strong> Embezzlement, fraud, or hidden liabilities on the part of those you partner with become <em>your<\/em> problem. Background checks can uncover a history of financial recklessness before it tanks your operation.<\/li>\n\n\n\n<li><strong>Legal Compliance:<\/strong> Depending on your industry, specific laws and <a href=\"https:\/\/www.bigreport.com\/resource-center\/background-screening\/background-screening-in-the-financial-services-industry\/\">regulations<\/a> might require background checks for certain partnerships or stakeholders. Don&#8217;t get caught on the wrong side of a legal issue out of ignorance.<\/li>\n\n\n\n<li><strong>Peace of Mind:<\/strong> Knowing you&#8217;ve done your homework before committing time, money, and resources to a venture reduces the kind of gut-wrenching stress Obinna experienced.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">&#8220;Ok, Sold&#8230; But Isn&#8217;t This Overkill? &#8220;<\/h3>\n\n\n\n<p>It&#8217;s a fair question. Not every partnership necessitates a deep dive worthy of Sherlock Holmes. Consider these factors:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The Level of Involvement:<\/strong> Larger investments or a partner with a hands-on role in your business? That warrants a closer look.<\/li>\n\n\n\n<li><strong>Access to Sensitive Stuff:<\/strong> Are they handling client data, finances, or core business operations? A background check becomes more important.<\/li>\n\n\n\n<li><strong>That Spidey-Sense:<\/strong> Sometimes, a gut feeling tells you there might be more than meets the eye. Listen to it \u2013 a little digging could be validating or set your mind at ease.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Recommendation:<\/strong> <a href=\"https:\/\/talkcounsel.com\/blog\/250k-fund-launched-for-legal-aid-to-small-businesses-by-talkcounsel-tullopy\/\">$250K Fund Launched for Legal Aid to Small Businesses by TalkCounsel &amp; Tullopy<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Upshot: Don&#8217;t Be Hasty. Be Smart.<\/h3>\n\n\n\n<p>Hey, don&#8217;t forget, just because someone gives a firm handshake and flashes a nice smile doesn&#8217;t mean they&#8217;ve got their stuff together. Treat potential investors and partners like you would new hires. Doing a background check is like having insurance against any nasty surprises down the road. Take a lesson from Obinna&#8217;s experience \u2013 be smart now to avoid regrets later. Make background checks routine for building solid, successful business connections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bad partners = bad business. Background checks are your insurance policy. <\/p>\n","protected":false},"author":1,"featured_media":2145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-how-tos-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Ignoring Background Checks is Like Driving with Your Eyes Closed<\/title>\n<meta name=\"description\" content=\"Discover why skipping background checks in business is like driving blind. Learn from Obinna&#039;s cautionary tale and prioritize due diligence.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/talkcounsel.com\/blog\/why-ignoring-background-checks-is-like-driving-with-your-eyes-closed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Ignoring Background Checks is Like Driving with Your Eyes Closed\" \/>\n<meta property=\"og:description\" content=\"Discover why skipping background checks in business is like driving blind. Learn from Obinna&#039;s cautionary tale and prioritize due diligence.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/talkcounsel.com\/blog\/why-ignoring-background-checks-is-like-driving-with-your-eyes-closed\/\" \/>\n<meta property=\"og:site_name\" content=\"TalkCounsel&#039;s Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-26T18:44:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T18:49:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/talkcounsel.com\/blog\/wp-content\/uploads\/2024\/03\/pexels-plato-terentev-5917762-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christian Nwachukwu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Nwachukwu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why Ignoring Background Checks is Like Driving with Your Eyes Closed","description":"Discover why skipping background checks in business is like driving blind. 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Don't skip background checks."},{"@type":"BreadcrumbList","@id":"https:\/\/talkcounsel.com\/blog\/why-ignoring-background-checks-is-like-driving-with-your-eyes-closed\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/talkcounsel.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Why Ignoring Background Checks is Like Driving with Your Eyes Closed"}]},{"@type":"WebSite","@id":"https:\/\/talkcounsel.com\/blog\/#website","url":"https:\/\/talkcounsel.com\/blog\/","name":"TalkCounsel&#039;s Blog","description":"Search and hire attorneys directly from the comfort of your couch.","publisher":{"@id":"https:\/\/talkcounsel.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/talkcounsel.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/talkcounsel.com\/blog\/#organization","name":"Talkcounsel's Blog","url":"https:\/\/talkcounsel.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/talkcounsel.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/talkcounsel.com\/blog\/wp-content\/uploads\/2022\/02\/Logo-Text.png","contentUrl":"https:\/\/talkcounsel.com\/blog\/wp-content\/uploads\/2022\/02\/Logo-Text.png","width":2574,"height":531,"caption":"Talkcounsel's Blog"},"image":{"@id":"https:\/\/talkcounsel.com\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/talkcounsel.com\/blog\/#\/schema\/person\/7378080e3720cbc3e300d4e4633776f3","name":"Christian Nwachukwu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/talkcounsel.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/820856cb0c4dd5f84622231c24e71ff69a2f5ed50a07d8d12489afc1ad1d129a?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/820856cb0c4dd5f84622231c24e71ff69a2f5ed50a07d8d12489afc1ad1d129a?s=96&d=retro&r=g","caption":"Christian Nwachukwu"},"description":"Christian is an attorney-turned-entrepreneur who has been featured in various media outlets, including Yahoo Finance, Benzinga, Markets Insider, Entrepreneur, Guardian, Associated Press, and Market Watch. As a contributor to Entrepreneur Magazine, he provides business insights on entrepreneurship, marketing, and startups.","sameAs":["https:\/\/talkcounsel.com\/blog"]}]}},"_links":{"self":[{"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/posts\/2144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/comments?post=2144"}],"version-history":[{"count":0,"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/posts\/2144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/media\/2145"}],"wp:attachment":[{"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/media?parent=2144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/categories?post=2144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/talkcounsel.com\/blog\/wp-json\/wp\/v2\/tags?post=2144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}