Sharing Daily Discoveries About Personal Finance And Business Topics

In Who’s Best Interest

Today I was talking with a person where we shared advice and knowledge about various industries as this was one of those topics where everyone seems to have an opinion as to the best way to do things. Generally speaking, the ultimate answer is usually there is no one way to reaching your goal. He was telling me how he made some adjustments to the way he ran certain parts of his business which brought him more results. It interests me as many people who I work with would advise against it.

As we kind of analyzed the situation as to why certain people would advise you into a certain direction, the ultimate answer was that the solution or advice that the person gives you could be more about what is in their best interest as opposed to yours. The typical example would be going to a store and blindly trusting the store expert to get you what you need. While one shopping direction would be in your best interest in terms of saving money for what you actually need, it doesn’t serve their best interest because they need to make as much money as possible. Therefore, like most business situations people are trying to get the most out of it for themselves first.

It makes you think how it is super important to really understand your business relationship dynamic. Again with the store example, that’s why we are usually weary if the person helping you is on commission right? A great way to tackle this I feel is to simply ask a variety of people. Ask everyone from people who are in the same situation as you to people who don’t have any kind of investment in your life decisions. The more you know the better you will be in making the decisions that are in your best interest.

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