The first time I started a CPA firm was over 30 years ago, yet I still remember the hard learned lessons. After developing a relationship with an atypical banker, I found myself on the receiving end of a number of questionable client referrals. Because I needed the cash flow, I accepted a number of clients that I knew had less than high integrity. They, in turn, referred their friends of similar character. From that list of clients, two went to jail for fraud and one sued me for a large penalty resulting from a wage and hour audit!
From chapter 1, verses 8 through 19 in the Book of Proverbs, we are warned to stay away from persons who have questionable character. We may think we can prevent their unacceptable behavior from affecting us, but that is often not the case. We may think our stand for integrity will cause them to change, but their heart attitudes usually prevent that from happening. Many well-meaning individuals have reached out to befriend unethical people and become just like them!
A man I met years ago told me he was called to "hold hands" with large number of people. He meant, of course, that he felt he was to develop business and personal relationships with a lot of people. He went on to say that there were only a few of those people, however, he was to "get in bed with." He went on to explain that only a few people could be trusted in close, personal relationships and that it was those long-term relationships he sought.
The lesson in all of this is that relationships with "good company" brings more good company. Good company helps us grow and prosper. Avoiding bad company can save our lives and our businesses!
Tuesday, June 30, 2009
Monday, June 29, 2009
Getting the Counsel of Others
As we have discussed in previous blogs, a person's behavior is conditioned through life experiences. Because of this, our ways usually seem right to us. In fact, our desire to do or be something will often block our ability to see or understand pitfalls that may await us. What may seem normal behavior to us, may actually be extreme behavior to others!
Many investors were ruined financially by Bernie Madoff's Ponzei Scheme. While it is likely most of these investors did some background investigation of Madoff's organization before investing, the opportunity to earn large returns may have affected their decision-making. For example, rather than questioning how this organization could pay high rates of return when others could not, potential investors may have acted on persuasive comments made by their friends or other investors.
It would take both my hands and feet to count the many times I have made investments, or pursued a business or personal venture, simply because I wanted to do the thing. Often ignoring wise counsel, I plunged wholeheartedly into something that was out of its time or not for me to do. I can't count one instance of success when I have done this.
Here is a life principal that works. Proverbs, chapter 1, verse 5 states: "A wise man will hear and increase learning, and a man of understanding will acquire wise counsel." Listening, learning and understanding are the basic principles for success in business, work and life!
Many investors were ruined financially by Bernie Madoff's Ponzei Scheme. While it is likely most of these investors did some background investigation of Madoff's organization before investing, the opportunity to earn large returns may have affected their decision-making. For example, rather than questioning how this organization could pay high rates of return when others could not, potential investors may have acted on persuasive comments made by their friends or other investors.
It would take both my hands and feet to count the many times I have made investments, or pursued a business or personal venture, simply because I wanted to do the thing. Often ignoring wise counsel, I plunged wholeheartedly into something that was out of its time or not for me to do. I can't count one instance of success when I have done this.
Here is a life principal that works. Proverbs, chapter 1, verse 5 states: "A wise man will hear and increase learning, and a man of understanding will acquire wise counsel." Listening, learning and understanding are the basic principles for success in business, work and life!
Ethical Principles That Work
In the weeks to come, we'll be exploring a series of ethical principles from the Book of Proverbs in the Holy Bible. Whether or not you believe the Bible is God's Word, or whether or not you consider yourself a spiritual person, these Biblical principles work for you as they have worked for others for centuries.
There are two requirements, however, for these principles to work in our lives. First, we must decide to believe they will work. More than mental assent, we must believe these principles in our hearts. Second, we must apply these principles to bless others, not ourselves. A Biblical principle many call the "Golden Rule" works to cause others to treat us they way we treat them. "What we sow, we reap." In applying Biblical principles to bless others, we can create a huge tidal wave of blessings for ourselves and our families.
I observed the Golden Rule at work through an old friend years ago; his name is Steve. Steve is the person we often talk about that would "give you the shirt off his back." Steve managed rental properties for me after his layoff from a steel mill. Anything I needed done, anytime night or day, Steve would do. Steve went the extra mile for all his friends and family. If someone needed money, he was there to help even though he didn't have much himself. Steve served others with his time and his money every day we were together. He started a small residential repair business in the 1980s. From the beginning of this business, Steve and his crew have always had work, even when others didn't! Steve planted seeds that brought him an abundance of friends and life fulfillment. What Steve gave to others, he is still getting back!
The Biblical principle of sowing and reaping, like many life principles in the Book of Proverbs, is a natural law that always works. If one sows good behaviors, he/she gets a good return on investments in others. Join us in the weeks to come as we explore "ethical principles that work!"
There are two requirements, however, for these principles to work in our lives. First, we must decide to believe they will work. More than mental assent, we must believe these principles in our hearts. Second, we must apply these principles to bless others, not ourselves. A Biblical principle many call the "Golden Rule" works to cause others to treat us they way we treat them. "What we sow, we reap." In applying Biblical principles to bless others, we can create a huge tidal wave of blessings for ourselves and our families.
I observed the Golden Rule at work through an old friend years ago; his name is Steve. Steve is the person we often talk about that would "give you the shirt off his back." Steve managed rental properties for me after his layoff from a steel mill. Anything I needed done, anytime night or day, Steve would do. Steve went the extra mile for all his friends and family. If someone needed money, he was there to help even though he didn't have much himself. Steve served others with his time and his money every day we were together. He started a small residential repair business in the 1980s. From the beginning of this business, Steve and his crew have always had work, even when others didn't! Steve planted seeds that brought him an abundance of friends and life fulfillment. What Steve gave to others, he is still getting back!
The Biblical principle of sowing and reaping, like many life principles in the Book of Proverbs, is a natural law that always works. If one sows good behaviors, he/she gets a good return on investments in others. Join us in the weeks to come as we explore "ethical principles that work!"
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