Everyone talks about picking the low-hanging fruit.  The easiest to reach, the easiest to harvest, the best place to start, right?  Maybe, maybe not.  It may be more costly in the long run.

With the age of the internet and the proliferation of opportunities which arise from global markets and competition, it is sometimes too easy to be tempted by the “low hanging fruit”.  This fruit may look sweet.  It can really sour your business, however, if the opportunities it represents are “too good to be true”.

By now most of us have experienced the e-mail scams offering us a percentage of millions of dollars if we just help some stranger in a strange land get his/her money out of the country.  We automatically send that to the delete folder.

We may not be so quick to “delete” offers and proposals from other sources offering potential riches in return for activities which seem to be completely above board.  Unfortunately, we do not always know what is legal and what isn’t, what is genuinely a solid business relationship or one that is shaky at best.

The business world abounds with opportunities to earn referral fees, placement fees, finder fees, transaction fees, percentages of deals, equity interests, and a multitude of other “alternative revenue streams”.  The question you need to ask before you pick this “low hanging fruit” is “what are the ’details of the deal’ and the potential ramifications to me and my business”.

Forbidden fruit often comes packaged as “everyone else is doing it”.  Tempting, but oh so treacherous.  Remember what you used to hear as a child when you said that to your parents – “If everyone was jumping off a cliff, would you do that too?”  I certainly hope not!  So don’t jump off a cliff in your business by being quick to accept offers from strangers without reading the fine print and understanding the laws and regulations which govern issues such as securities transactions, assignment of interests, and international intellectual property rights.

Be open to offers; be cautious in accepting what is offered.  Some questions for your consideration whenever any opportunity comes your way:

• Who is making the offer?
• What do you know about this person?
• What are the details of the offer?
• Does the person making the offer have the right to act?
• Does the person own or represent someone who owns the “goods”?
• Is the transaction legal under regulations and guidelines relevant to the type and nature of the deal?
• What are the terms and conditions regarding terminating the deal?
• What is each party responsible for doing, delivering, contributing?
• What happens if things “go wrong”?
• What are you putting “at risk” – can this impact your credentials, licenses, reputation?
• How much liability will you have for the other person’s actions or inaction?
• Are you exposing financial assets to risk – directly or indirectly?
• Will you be in a position of oversight to activities and results?
• Are there measurable outcomes and required results?
• How will you know that the “level of effort” required will be expended, and what happens if it isn’t?
• Is the person capable and qualified – some people talk a good game but have no ability to execute on the plan?
• Are you willing and able to follow through on any commitments made through this “joint venture” to ensure that things promised get done?
• Who is the “customer” and what will be the impact of your relationship/reputation if the “joint venture” doesn’t deliver?

Entering into any venture with someone else requires careful analysis and reasoned decision-making.  The person you “know” may turn out to be all façade and no substance with big ideas and limited ability to get things done and follow through.  Enter into transactions, deals, and opportunities with the belief that good things can happen and the understanding of the things that can go wrong.

If you choose to pursue low hanging fruit whose exterior appears flawless but whose flavor is unknown, look at all the angles and be careful where you stand.  Make sure that you will not put your ability to harvest all the fruit in the orchard out of reach.