Your Reputation Is Everything

Your Reputation Is Everything

I've received no less than 4 million texts since March asking if I want to help sell PPE. Usually, the conversation is something like this:

Person: I have 18 million N95 and 6 million KN95 masks ready to go at x$ and y$. 50% down up front. Know anyone who needs them?

Me: Probably not. Where do you have the masks?

Person: I don't have them, a buddy of mine does.

Me: Where does he or she have the masks?

Person: OK, well, it's more complicated. They are in a warehouse, in China. My buddy knows a guy who has this connection to this guy with a company that manufactures medical supplies in China and they have a license to manufacture them.

Me: Where in China?

Person: No idea.

Me: So, to be clear, when you said you "have 18 million N95 and 6 million KN95 masks ready to go," you mean "a person I don't know says he knows another person I don't know who may or may not be in the manufacturing business in a place in China I don't know. This person fairly unrelated to me that I don't know (and don't know if he or she exists, or if it's a he, she or they) who may or may not manufacture medical supplies may or may not have masks. If they do have them, it's in a quantity I can't verify, in a place I can't identify. I also don't know how the masks (if they exist) would get here, because I don't even know where they are coming from. Shouldn't be a problem. But if you wire someone (let's be honest, we have no idea who it is, but I suspect I can get you a bank account number to send the money to, if you say yes) about US $25 million to an account of someone's then you could or could not receive masks, somewhere. Oh, also, I have no certificates so when I say N95 or KN95, I mean "stuff. " What do you think - do we have a deal?"

Your reputation is everything.

Nitesh Rastogi

Entrepreneur in Training

4 年

To mitigate compliance risks, an indepth KYC and DD must be done of any international supplier. I think any legitimate trading firm would interact directly and only with the factory sales personnel. And ofcourse also manage their freight directly. Atleast that's what we do.

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Carlos M. Cruz

Lobbyist, Author, Political Business Coach and CEO Carlos M Cruz, VP & Director of Business Development - Polaris Pharmacy Services, Partner Converge Public Strategies, President Cruz & Co. Realty

4 年

Well said

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Ed Fields

Civic Strategist

4 年

Lester Smith, Jr., CPA, CGMA Carmen Jones, MAML

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Edward Mermelstein

Board Member | NYC Commissioner for International Affairs

4 年

Brilliant

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