Your Reputation Is Everything
Jonathan Kilman
Chairman & CEO Converge Public Strategies/Executive Chairman Marcman Solutions/GP GOVO Venture Partners
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.
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.
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
Civic Strategist
4 年Lester Smith, Jr., CPA, CGMA Carmen Jones, MAML
Board Member | NYC Commissioner for International Affairs
4 年Brilliant