The Rich Are Greedy

"KEEP A LITTLE SOMETHING FOR YOURSELF If you bend to every demand, there'll be nothing left to justify the transaction. And yet if you demand everything, there'll be no transaction. There's a great episode of Taxi in which Louie De Palma, the character played by Danny DeVito, is given an opportunity to literally fill in a blank check to complete a deal, and he pulls out his few remaining hairs in coming up with a figure. He knows there's a number that will make his benefactor balk, and another that will make him sigh with relief that the figure didn't come in any higher; and the dilemma comes in determining the very highest dollar amount Louie can justify without killing the deal. It's played to comic effect on the show, but there's a resonant truth in it. I'm not suggesting you gouge your customers and underpay your employees, but take the time to find the precise middle where both sides profit. When you're in business for the long haul, repeat business will be your keystone. See that it's still there when you come calling that second time."

Bill Rancic. You're Hired. How to Succeed in Business and Life. (pp. 44-45). HarperBusiness.

At least in the business and negotiations context, the rich can be greedy.

"Yet if you demand everything, there'll be no transaction" says the winner of the first season of the Apprentice in the USA. Certainly in the long haul.

There are two sides to every transaction, a buyer and a seller.

Practical business is not an academic exercise. Nor is it an exercise in charity.

Yet the belief remains that the buyer and seller will come to an acceptable equilibrium, in the marketplace.

Do you deserve your profits (fees or charges)?

To discuss the book, leave a comment, question or like in the comments section below!