Is Your Greed Holding You Back In Business?

kelowna accountantPart of answering this question requires defining greed itself. It really is a perception rather than the type of thing that has a consistent definition. Is it your understanding or lack of understanding on how to move your business forward that’s holding you back?

This really becomes the question because if you know what you’re doing and you are making the right decisions, your business will be moving forward.

Think of a piece of a pie for a second. Would you rather have 100% of no pie or 10-50% of good-sized piece of pie?

When I think about greed, I imagine someone who wants 100% of the pie they can create. This thinking is too small sometimes as it’s necessary to give away a piece at times in order to move towards a greater benefit.

Related: Is Meeting For Coffee Wasting Your Time?

 

kelowna accountantThe Tale of The Two Sisters

There’s a story I remember about two sisters. Both sisters are given one orange to share and they fight and argue about who gets the orange until their mother decides to split it down the middle.

One of the girls gets her orange and peels off the skin and throws it in the garbage before eating the inside. Her sister gets her half and throws away the inside because she only likes the peel.

Their mother and likely everyone else thought it was a win-win situation.  It could have been a win-win and both sisters could have had 100% of what they wanted, had they managed to figure it out – I think about greed in the same way.

Had the girls recognized each other’s preference, they would have both been happier. If you sit there and restrict what you’re prepared to give out to other people then you’re bound to run into problems.

Related: Can Your Business Keep Up With Your Lifestyle?

 

Leverage Your Resources

kelowna accountant

I’ve dealt with this a lot with professionals here in Kelowna. I’m not necessarily saying it’s a greed thing; many times it’s just a business sense thing. If you sit down and look at a professional business, the best way is to work on a leveraging model. Utilize other people’s expertise to end up with a bigger pie with less work.

If you’re holding all the keys to the kingdom and not sharing the wealth, you don’t let other people expand their capabilities, knowledge and have the ability to make you money because you’re closing them out. A lot of times, this is done out of fear of losing control.

Why are you holding everything back from others? That becomes the real issue. If you set your goals appropriately and allow others to expand, the opportunities to overcome your greed are greater because you’ll be a part of a larger pie and end up with more of it.  The pie can only grow so big without others involved in the growth.  I enjoy working towards a larger pie, and so do many of my clients.

Do you get more value from sharing the wealth when you’re saving money or time? Leave a message in the comments below.

 

 

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