Monday 15th July 2019

    Being Ethical Is Long-term Greedy


    Once you've been in business long enough, you will realize how much of it is about trust. It's about trust because you want to compound interest. You want to work with trustworthy people for long periods of time without having to reevaluate every discussion or constantly look over your shoulder.

    Over time you will gravitate to working with certain kinds of people. Similarly, those people will gravitate to working with other ethical people.

    Being ethical attracts other long-term players

    Acting ethically turns out to be a selfish imperative. You want to be ethical because it attracts other long-term players in the network. They want to do business with ethical people.

    If you build a reputation for being ethical, people eventually will pay you just to do deals through you. Your involvement will validate deals and ensure they get done; because you wouldn’t be involved with low-quality stuff.

    Continued here