If your bank becomes concerned (which can certainly happen during the startup phase), it may suggest consulting services and, if necessary, even recommend a consulting firm right away. Don’t dismiss the idea right away—good advice can be very beneficial to you.
But ask yourself a few important questions:
– Is the consultation a prerequisite for ensuring that your loan or credit line isn’t terminated? In a situation like this, you definitely need support! Be sure to seek help—for example, from the TFU.
– Are you getting good value for your money? Help choose your own advisor! TFU can help
– Can arrangements be made for the bank to cover (part of) the costs if the advice is provided by a highly qualified professional? The TFU may be able to assist with this as well.
Important to note:
– Specify the nature and scope of the consulting services in writing—and be very precise. Stay in control of the process! Ask for regular updates on progress and carefully verify the services being provided.
– Agree on payments based on the project’s progress. Even if payment is required in advance, don’t pay the entire amount at once.
– If you feel that the service is not being provided in your best interest, seek support (e.g., from the TFU) and stand up for yourself. The same applies if someone tries to take control away from you.
As we’ve mentioned time and again in previous blog posts: As a TFU company, you’re entitled to our help! You’ve already paid for our advice and support through your service fee. So don’t throw your money away!
