Five Rules for Balancing Business and Friendship
The Virtual Handshake Blog - March 22, 2005
By RLI Corp. Vice President, Executive Products Group, A. Q. "Skip"
1. Never renege on your handshake. Multimillion-dollar, complex
deals are sealed by handshakes or verbal agreements on the
phone, and you live by them. If you don’t honor them on paper
afterward, you’ll lose longstanding friendships that are
productive business-wise and socially.
2. No ethical
shortcuts. Be open and honest in everything you do, go the
distance to make sure all that you do is on the up and up. By
the same token, make sure you associate with colleagues/friends
with the same ethical and moral compass.
3. Defend the inner circle. Watch the people around you; see
if they try to cut corners or find an easy way out of things —
cheating on taxes, taking financial shortcuts. If you notice
that they do these things in their personal lives or in social
situations, they’re almost certain to do it in their business
4. Stick to win-win situations. Make sure every deal you make
is mutually beneficial — to you and your company, and to your
colleague and your colleague’s company. In short, make sure each
deal makes good business sense for all involved.
5. Don’t ask, don’t sell. Never ask colleagues to compromise
business standards for you just because you’re down and need the
business. And they should never ask the same of you.
April 12, 2005