Does self-interest really govern in our business world? If so, can we understand and manage it?
The host Scott Weaver shares his experience, how the role self-interest plays in today’s business climate, and some tips on creating win-win situations.
The host Scott Weaver shares his experience, how the role self-interest plays in today’s business climate, and some tips on creating win-win situations.
Show Notes
Self-Interest in Business
- Self-interest and freedom leads to economic well-being.
- Important role of specialization of skills.
Two ways to capture specialized knowledge to improve your productivity:
1) Hire or trade with other people, either
by outsourcing or internally.
2) by purchasing tools.
Tips for Doing Business
- #1: Watch out when self-interest becomes self-love
- #2: Maintain and protect your freedom
- #3: Be wary whenever somebody denies self-interest is in play
- #4: Set your expectations in business very early on
- #5: Do not withhold payment owed to others
- #6: When that new big opportunity arises, listen to your support team, particularly a spouse
Podcast References
Chapter 2 “Wealth of Nations” by Adam Smith, orginally published 1776, Bantam Classic Edition/March 2003
“The Prince” by Machiavelli, orginally published around 1532, Crofts Classic Edition 1947
Recorded and Produced at Arise2 studios