Years ago, I was working with a client who really thought she was better than she was.
She was looking at selling her business at one point and expected to earn $150,000 from the purchasing business. When I explained the financials to her and we did some quickie calculations, the owners had salaries about $50,000 and the employees were averaging $30 to $35K.
I had to explain that who would pay her $150,000 if they were only able to pay themselves $50,000. So, she did not sell her firm. The offer price was insulting low when I inquired about it. I never found out how insulting.
She had been lagging in her payments to me, so I contacted the referral source, just to let them know I was about to implement some collections procedures.
When I called to talk to the client, I called both the office and cell, I could only leave messages. After a week or so I re-contacted the referral source. They also were getting the same treatment. I visited another client and they mentioned that one of their clients owed them money and were not answering e-mails or calls.
Yes, it was the same client. Apparently, she had left a trail of unpaid vendors. Which is hysterical, since once I met her and saw how she ran her business, I explained that I though her overhead was too much and should drastically reduce space and utilities. But I was always told that a huge deal was in the works and would address everything.
Apparently, the deal never came through. One gracious client was trying to locate her to see if she was alright, he considered her a friend and was worried. Far as I know after she imploded, no one ever heard from her again.