Honesty and Business Ethics

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10/4/2019

Honesty and Business Ethics

This was another enlightening week as we dove into the business of honesty and being ethical.  
Here are some of the highlights from my notes.

Why are ethics important?
  • fanatically ethical-no reason to compromise
  • are you good?  that's all we care about
"Making a Living and a Life" by LG Robbins
A-D level people/motivations
  1. Can you ask the Lord's blessings with a clear conscience?
  2. When questionable products or services are involved, is the person's involvement direct or indirect?
  3. Does the product/service hurt humanity?
"True blue, through and through"  S. Dew
Virtue will make/break you
*Virtue of Integrity  JS: "integrity=cornerstone of character"
JFS "true blue, through and through"  integrity and also proud of being LDS story
Helaman's stripling warriors  Leadership: Integrity or you can't lead
  1. Decide today, once and for all that you'll be trustworthy 
  2. Have faith that the Lord can/will help you then obediently seek His help
  3. Make covenants and keep them
  4. Stand up for what you believe
  5. Expect your integrity to be challenged
  6. Don't give up
  7. Covenant, review covenants with Heavenly Father and Jesus Christ to do what you came here to do.
Why are ethics important?
Top 10 must haves for a start up
10. Comfortable, cheap furniture
9.  A sign-go get customers!
8.  Too little money-innovate-not spend for success
7.  Common sense-
  • business must haves: customer, product, sales, profits, taxes to pay
  • business don't needs: CFO, VP, market studies, ad campaigns, website.business plans, forecasts
6.  Pride of fat baby-do what it takes to stay alive, stay close to customers
5.  A supportive family
4.  Like surfing real waves-don't try to make your own
3.  Confidence that you'll have 1000's of great ideas
2.  Sales (duh!)-get them started early-love tough customers, listen!
1.  A great partner-complimentary, ethical, loyal, smarter than you

"Risks in Business"                Jan Newman 2014
GETTING SKIN IN THE GAME!-time, effort, 
  • lower salary=aligned with the company
  • never do anything dishonest- it's just not worth it!
VC= venture capitalist

Magdalena Yeşil-case study
Super smart, driven, hard working, ethical, positive, good mother, entrepreneur, science

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