03 September 2013
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This is a true account of a friend of mine who suffered a setback at the hands of unethical businesses practices:
The subject of this story is a friend, 67 years old and retired. Well, he thought he had retired, but when most of his wealth was lost in the Landsbanki saga during the crisis, forcing him from retirement earlier this year. He returned to employment with a vision of publishing a new magazine from scratch.
An accountant by trade, his mission was to bring a community of firms together promoting networking and partnership opportunities. Companies would have a platform to marketing their individual services to each other, as well as independently to the public.
He intended to build a select roster of local businesses, creating a system within his publication wherein the more firms who purchased advertisements, the less the total cost for all. This would give businesses and local companies a medium to promote themselves to the local community. The intention behind stimulating a community of harmonious businesses was to keep wealth revolving around in the local area, rather than going to the big cities or larger firms.
After two months research, lots of networking and hard work he sold some advertising and launched the first copy of his publication. Happy to break-even he thought, but if it could generate a living for him in his retirement, then even better. Commendable and smart.
So what hurts..?
Well, one advertiser took a full-page advert, confirmed the terms with the gentleman, and agreed the final design and it went to print. The gentleman covered the costs of printing and distributing 3000 copies of the community interest magazine. The invoice was sent to this particular advertising client but they refused to pay.
Knowing that it would cost too much for the 67-year-old gentleman to take any action they turned their back on him. They got what they wanted but didn’t pay for it. When the gentleman went to see the client about the invoice they said they were too busy to talk as they had sold between 8-9 cars that week and.. oh, we are not paying for the advert.
They still have not paid so the gentleman has basically covered the entire cost for the client. Where is the community spirit in that..? A successful business with a deep pocket makes a retired gentleman pay for its advertising out of his own already shallow pocket.
The client wanted the phrase 'The Best or Nothing' on their advert. I felt like changing it to ‘The Best For Nothing’ as they got one of the best adverts in the magazine but didn’t pay for it, so the got it for nothing!
Will report back if they do the right thing. Their advert is below and my slight addition.