1430: Ethical Business Practices and Your Stomach by Colin Wright of Exile Lifestyle on Entrepreneurship

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[00:00:26] [SPEAKER_02]: This is Optimal Work Daily.

[00:00:28] [SPEAKER_02]: Ethical Business Practices and Your Stomach by Colin Wright of Exile Lifestyle.com

[00:00:35] [SPEAKER_02]: The Trouble with Business

[00:00:38] [SPEAKER_02]: I'm in an evolutionary stage with a few of my businesses,

[00:00:41] [SPEAKER_02]: and I want to go over something that's been on my mind as a result.

[00:00:44] [SPEAKER_02]: For many, the concept of ethics seems to fade away as soon as they enter the board room, cubicle or home office.

[00:00:51] [SPEAKER_02]: It's just business.

[00:00:53] [SPEAKER_02]: That's the prevailing excuse for doing things that they would not do in normal non-business society.

[00:00:59] [SPEAKER_02]: No need to worry, it's a consequence-free environment so long as you play by the rules of the business world,

[00:01:04] [SPEAKER_02]: which are very different from those everyone plays by the rest of the time.

[00:01:08] [SPEAKER_02]: I understand why this ethical segmentation takes place.

[00:01:12] [SPEAKER_02]: First, the main point of starting a business for most people is to make money.

[00:01:16] [SPEAKER_02]: This is the be-all end-all purpose behind starting such an enterprise,

[00:01:19] [SPEAKER_02]: and therefore, any cost is legit in order to make a profit.

[00:01:23] [SPEAKER_02]: Second, since specialization is at a peak,

[00:01:26] [SPEAKER_02]: most people will never have to be the sole morally loose sprocket in a given machine.

[00:01:31] [SPEAKER_02]: Each and every employee is just a piece of the greater whole,

[00:01:34] [SPEAKER_02]: and it's easy to convince yourself that there is someone higher up

[00:01:37] [SPEAKER_02]: who is assuming the moral burden of the decisions made.

[00:01:40] [SPEAKER_02]: Third, because everyone else seems to be making money in unscrupulous ways,

[00:01:44] [SPEAKER_02]: it's easier to convince yourself that cutting corners and short-shifting your ethics won't be so bad.

[00:01:50] [SPEAKER_02]: How else can you compete?

[00:01:52] [SPEAKER_02]: Unfortunately, these points provide the justification,

[00:01:55] [SPEAKER_02]: but not a solution to the problems that result from all the unethical business behavior out there.

[00:02:00] [SPEAKER_02]: What can be done?

[00:02:02] [SPEAKER_02]: If you're running a business, you likely have customers or clients,

[00:02:05] [SPEAKER_02]: and the first step is simple.

[00:02:08] [SPEAKER_02]: Do not do anything to these people that you would not want done to you.

[00:02:11] [SPEAKER_02]: I'll give you an example, one that started a bit of a debate on Twitter the other day.

[00:02:16] [SPEAKER_02]: I hate pop-ups on websites.

[00:02:18] [SPEAKER_02]: I simply can't stand them.

[00:02:20] [SPEAKER_02]: If a site has one, I'll never visit again.

[00:02:22] [SPEAKER_02]: They bug me that much.

[00:02:24] [SPEAKER_02]: To me, pop-ups have all the noxious charm of a TV commercial but with less content.

[00:02:29] [SPEAKER_02]: The message I see is, your time is mine.

[00:02:32] [SPEAKER_02]: Seth Godin would call this interruption marketing as opposed to the preferable permission marketing.

[00:02:37] [SPEAKER_02]: There is evidence that having a pop-up on your site can increase your newsletter subscription rate,

[00:02:42] [SPEAKER_02]: ebook purchase rate or whatever else you want to advertise.

[00:02:45] [SPEAKER_02]: But is it worth it?

[00:02:47] [SPEAKER_02]: Why would I do something to my readers that I know annoys me?

[00:02:51] [SPEAKER_02]: Am I better than them in some way that they should have to stomach it and I should not?

[00:02:54] [SPEAKER_02]: Of course not, so I don't use pop-ups.

[00:02:57] [SPEAKER_02]: Same with banner ads and text ads.

[00:02:59] [SPEAKER_02]: This site is ad-free.

[00:03:01] [SPEAKER_02]: Why all this trouble?

[00:03:02] [SPEAKER_02]: Why all these missed opportunities?

[00:03:03] [SPEAKER_02]: Because I doubt I would have the same enthusiasm for this project if I didn't think I was building something the way it should be built.

[00:03:11] [SPEAKER_02]: My ethics aren't yours of course and everyone needs to figure out where their personal lines are drawn,

[00:03:16] [SPEAKER_02]: but crossing those lines has consequences.

[00:03:20] [SPEAKER_02]: Consequences

[00:03:21] [SPEAKER_02]: My enthusiasm plus the goodwill of my non-annoyed readers is a huge advantage gained by this method of running a business.

[00:03:28] [SPEAKER_02]: My readership numbers could probably be higher if I used every trick in the book,

[00:03:32] [SPEAKER_02]: but my click-through and participation rates are off the charts because people are more likely to get involved

[00:03:38] [SPEAKER_02]: if they don't feel pressured and put upon by their host.

[00:03:41] [SPEAKER_02]: I wanted interaction with my readers and I get it.

[00:03:44] [SPEAKER_02]: All I had to do was treat them the way I'd want to be treated.

[00:03:48] [SPEAKER_02]: I know the golden rule is no big moral revelation,

[00:03:51] [SPEAKER_02]: but for some reason it seems to be almost completely unknown in the business world.

[00:03:55] [SPEAKER_02]: There are many strong professionals out there who aren't living up to their potential

[00:03:58] [SPEAKER_02]: because they ignore their personal ethics when on the job.

[00:04:02] [SPEAKER_02]: I used to wrestle with this thinking it was a weakness that I couldn't stomach doing what needed to be done

[00:04:06] [SPEAKER_02]: in order to maximize my numbers,

[00:04:09] [SPEAKER_02]: but I've come to realize that letting my gut lead the way is what allows me to lead the lifestyle I do.

[00:04:14] [SPEAKER_02]: I can operate a handful of ventures at any given time without stressing out or feeling weighed down by them.

[00:04:19] [SPEAKER_02]: In fact, I wake up excited every day looking forward to what I get to do for work.

[00:04:25] [SPEAKER_02]: My businesses bring value to me and my clients, customers and readers

[00:04:29] [SPEAKER_02]: and that brings me a great deal of satisfaction.

[00:04:32] [SPEAKER_02]: And you know what? The money follows.

[00:04:35] [SPEAKER_02]: If you've got a business or job that isn't bringing you joy along with cash, you're selling yourself short.

[00:04:40] [SPEAKER_02]: If you wouldn't be comfortable telling your base all about every decision you make,

[00:04:44] [SPEAKER_02]: every tactic you use and every scheme you come up with, you've got a problem on your hands.

[00:04:48] [SPEAKER_02]: Avoid burnout and work to live, not just to make a living.

[00:04:53] [SPEAKER_02]: Don't sell out your base to make a buck.

[00:04:55] [SPEAKER_02]: Build a base that will gladly help you make money as you help them achieve their goals.

[00:04:59] [SPEAKER_02]: Live ethically to live happily.

[00:05:02] [SPEAKER_02]: Update, January 26th, 2017

[00:05:05] [SPEAKER_02]: I'm still a big proponent of this idea and I've extended it even further actually to everything in my life.

[00:05:12] [SPEAKER_02]: I find that being open and truthful by default helps me avoid awkwardness and moral conflict.

[00:05:17] [SPEAKER_02]: It also ensures decisions are a lot easier to make

[00:05:20] [SPEAKER_02]: because you don't have to choose between what you think is the right thing

[00:05:24] [SPEAKER_02]: and what may be more profitable but less aligned with your ideals.

[00:05:27] [SPEAKER_02]: It also doesn't hurt to live a life that you don't necessarily just put out there

[00:05:31] [SPEAKER_02]: but that you wouldn't worry about everyone knowing about should you get hacked or something.

[00:05:35] [SPEAKER_02]: That's been big on my list too.

[00:05:37] [SPEAKER_02]: Be okay enough with everything I do and say so that if it all comes out someday,

[00:05:42] [SPEAKER_02]: I'll be able to stand behind how I lived.

[00:05:44] [SPEAKER_02]: You just listened to the post titled,

[00:05:50] [SPEAKER_02]: Ethical Business Practices in Your Stomach by Colin Wright of xylelifestyle.com

[00:05:56] [SPEAKER_02]: This show is sponsored by BetterHelp.

[00:05:59] [SPEAKER_02]: We're all marveled at how quickly kids learn

[00:06:02] [SPEAKER_02]: and that sense of wonder meant they have while doing it

[00:06:04] [SPEAKER_02]: but as adults sometimes we lose that curiosity.

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[00:06:20] [SPEAKER_02]: Whether or not you've been through significant trauma,

[00:06:23] [SPEAKER_02]: therapy can be a great tool for setting boundaries,

[00:06:25] [SPEAKER_02]: learning new skills and ultimately becoming the best version of yourself.

[00:06:29] [SPEAKER_02]: If you're thinking of starting therapy, give BetterHelp a try.

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[00:06:58] [SPEAKER_02]: So long time listeners of our shows might be surprised to hear Colin Wright

[00:07:02] [SPEAKER_02]: being narrated on this show.

[00:07:04] [SPEAKER_02]: He's normally narrated over on Optimal Living Daily

[00:07:07] [SPEAKER_02]: but if you want to hear his voice instead of mine,

[00:07:10] [SPEAKER_02]: he actually has his own podcast it's called Let's Know Things

[00:07:13] [SPEAKER_02]: and that's where he puts the news into context.

[00:07:17] [SPEAKER_02]: Checking out his podcast would be a great way to show your support for him

[00:07:20] [SPEAKER_02]: and for our show as well.

[00:07:22] [SPEAKER_02]: And a little bit of background about Colin,

[00:07:24] [SPEAKER_02]: he is an author, a speaker and a full-time traveler since 2009.

[00:07:29] [SPEAKER_02]: Since then, he's had a unique way of choosing where to live.

[00:07:32] [SPEAKER_02]: He's polled his audience.

[00:07:34] [SPEAKER_02]: Colin is also a well-known minimalist,

[00:07:36] [SPEAKER_02]: in fact to be able to be a full-time traveler starting back in 2009,

[00:07:40] [SPEAKER_02]: he got rid of everything that wouldn't fit into his luggage.

[00:07:44] [SPEAKER_02]: Now that is some serious minimalism

[00:07:46] [SPEAKER_02]: and Colin has a lot to share, a lot of great content and insights

[00:07:49] [SPEAKER_02]: so come by xylelifestyle.com for a lot more.

[00:07:54] [SPEAKER_02]: And that's going to do it for today.

[00:07:56] [SPEAKER_02]: Thank you so much for listening and for being a subscriber.

[00:07:58] [SPEAKER_02]: Have a great start to your weekend

[00:08:00] [SPEAKER_02]: and I'll be right back here with you tomorrow

[00:08:02] [SPEAKER_02]: where your Optimal Life awaits.