Beware of visionaries in business

I keep coming across a type I call a visionary. I thought I’d share my blog post with you as a warning so that you, too, are careful out there. Who’s the visionary? It can be anyone who comes up to you with a great business idea and paints a rosy picture. You see enthusiasm in his or her eyes. Hyperbole and complimenting you is the name of the game. Now, scammers do that, too, but I’m not talking about scammers. The visionary is more like a well-intentioned guy who believes his own propaganda and want to suck others into their delusion.

Visionaries really believe in their dream and they don’t want to scam you but their dream has no basis in reality or it’s loosely linked to reality at best. Vanity publishers are kind of like that – they are going to call you and tell you how great your manuscript is, that you’re going to be the next global sensation. Except, even if your book is crap, they are going to tell you it’s genius because they want your money. They likely haven’t even read your book or just a chapter or two to convince you. All you’re going to end up with are fifty books in the attic and that’s that. Vanity publishers aren’t doing anything illegal – it’s not their fault your ego buys into their vision. As always, it’s the fine print that matters most. So yeah, there are similarities between visionaries and vanity publishers.

There’s nothing wrong when you want to aim high, of course, but there needs to be some logic to it. All in all, if you buy whatever the visionary is selling, you’re likely going to end up in a mess just as if you’re dealing with a scammer. Only intentions differ.

What are the red flags to look out for?

A shaky voice or overly confident – while a shaky voice might be an obvious giveaway or just someone who is nervous because they really want to make a good first impression, someone who appears overly confident is a potential red flag as well. Overconfidence tends to mask weaknesses and lack of planning. You’re supposed to be mesmerized by bombastic words and not pay attention to detail. Using hyperbolic language all the time is definitely a red flag. Sure, promotion is vital, but pay attention to the language the person uses. If it feels like a cheerleading contest rather than a business, something’s likely wrong.

The visionary wants to drag your name onto the list of his or her team members as fast as possible. He or she really believes you’re going to be a great addition to the team. But if he or she keeps asking you to be added to the list, ask yourself: why do they need me on that list so badly? Worse yet, if you’re added to the list without your permission – then you’re definitely dealing with someone who isn’t going to be a serious business partner and it’s time to bolt.

The visionary loves teams – well, good. Go to that team meeting and see who’s there. Watch the dynamics between the people in the group. If you can’t go or don’t see a reason to, tell the potential business partner to snap some photos or record a video or two of the team meeting. If there’s nothing on the website and you aren’t getting any photos or videos while they keep coming up with excuses (they need to edit, whatever) – that’s a definite red flag. Likely, there was no meeting or some limited meeting. The visionary, of course, painted a picture of success for you. Awesome meeting, and so on. Except, that’s just his or her word or in his or her head.

The visionary might say that he or she met with some influential individual and mentioned you. It’s a cheap manipulation to make you feel important. No tangible benefits, just words and asking you to believe whatever the visionary says. Chances are, there was no meeting with any VIP and you’re just told what the visionary thought you’d wanted to hear to keep you around. Or if you have access to that particular VIP – just ask them.

Ask, ask, ask. Don’t accuse them of lying. No need and why antagonize them if they are actually doing something great? Asking questions is a skill you need. If the visionary mentions someone who’s going to be working with you – ask, ”Could you tell me the name of that person, he or she sounds impressive.” Stuff like that. If there’s silence, it’s a red flag.

Indeed, there’s a fine line between visionaries and scammers. Except, scammers know their project is a lie and they just want your money, while visionaries really believe their project is awesome and world-changing.

Take someone well-versed in business, psychology, or both, with you to a meeting with the visionary. Tell your friend or acquaintance to pose as a potential investor, for example. And see what your friend or acquaintance says about the visionary’s comments. If the visionary sends you stuff online, forward these messages to your friend or acquaintance and see what they say. It’s way better than calling someone a liar to their face. What for? Let them think you are all-in while you smile and ask around. Look for discrepancies.

Never sign any contracts or whatever, no matter how harmless the visionary claims it is. A lawyer must go over a contract or whatever, before you sign anything. Some visionaries can castigate you for doubting them. Indeed, that’s their modus operandi – when things go wrong, and they will, you’re going to be the one to blame. Get off the crazy train before it chugs.

Don’t go around calling people fakes and scammers or you might find yourself facing a Chinese psychic. The woman was so offended by me calling her a fake, she said that the curse was going to make me reincarnate as a Jewish girl with my memories intact on some parallel Earth. Well, who knows, maybe it’s going to be a more stable world than this one.

On a serious note, it’s vital to be careful. There’s a lot of well-meaning but delusional people out there. They weave webs of wonder but these webs only exist in their minds. Be careful.