Greed

If you've seen "Scarface" and you know that the rules were relayed to Tony very early in the game. One of them was simple, "Never underestimate the other man's greed."

Michael Douglas won an Oscar for "Wall Street"... His stand out scene is when he receives a standing ovation after explaining why greed is good... He broke it down. He made sense.

I see greed everyday, in negotiations for margins and profit-share... This is good. Good, because this is about the bottom-line and everybody should be kept on their toes. Of course there are moments when it gets out of hand.

Being blatantly greedy is quite silly. Don't get me wrong, we all have greed within us on various levels based on our individual situations but showcasing clear greed is still silly.

Once you are known for greedy tactics, you will always deal with tough negotiators who feel the need to be hard headed and unreasonable. A reputation for being fair will at least ensure that people approach the table with an open mind. In fact, a reputation for greed will result in alliances against you... Never good.

As a young entrepreneur, I can relate to greed. When you are new and desperate in the game, you develop a level of greed based on that desperation. Your inability to say no to work and money results in many mistakes. When you're young, you view a cheque as your very last, it's difficult to have patience and vision.

I advise all my young dudes to forget about profit in the beginning. Focus on building a name, have a reputation for quality and a high level of service. People will recommend you... The money will come. When you take on every job, eventually you'll upset one customer who will bad mouth you and hurt your business.

Use your greed to drive you, keep you hungry and ambitious... but like poker, don't show your hand. Don't be a push-over in negotiations, but don't be silly.

Don't be the fat bully at the buffet... There's plenty to go around.