Every day we gather our resources and our connections to make the world a better, busier or bulkier place. Have you ever thought about how you are buying your services and spending your favors?
The best piece of advice I can give is to never spend your goodwill where you can spend your good dollars. Goodwill is a hard won trophy built with an investment of character and integrity. You earn it by showing yourself as honorable, reliable and worthy of a friendship at least and a partnership at best. With goodwill a partner can share it with others and it never diminishes. Like ideas, goodwill never separates, it duplicates, creating more and more goodwill.
Dollars on the other hand can be earned in many ways far more easily. They can be replaced if lost and simple to find if needed. Dollars take little effort and can be managed by hired guns or summer students. They are undiscriminating, and unfettered by accountabilities and responsibilities. Dollars can be stolen or gambled and, truly, you cannot take them with you when you go…to a new job or a new relationship.
So when you think to yourself “How can I save money and get this done” make sure you are still spending money not goodwill. If you find you are spending goodwill, make sure you can afford it.