My First Lesson in Business
My First Lesson in Business
The trap had been set. I arranged my baseball cards in the three boxes that I had arranged in a circle around my bedroom floor. I checked again to make sure that anything of value had already been packed away in the dresser drawer in the closet. Bill’s mom would be dropping him off in a few minutes. I salivated as I thought about the bundles of cards he would lug up the stairs to my room. I had spied his best material the week before. He had a smattering of rookie cards as well as the old standbys. I had my eye on his Don Mattingly. Assuming that it wasn’t damaged in transfer, the card was in pristine condition. Of course, I could have forked out the ten bucks and bought it from a dealer, but I figured that Bill didn’t even know the difference. Not being a collector, he was much more interested in our foundering Cubs players. Taking candy from a baby. My first lesson in business.
The Art of Deception
Bill couldn’t believe his luck. He looked at the pile of cards stacked in front of his knees as he sat cross-legged in front of me. He had all nine Cubs starters. Before making a decision, he pushed each player into an imaginary diamond in front of him. The outfielders on the periphery protecting their pretend wall of ivy. Across from him, I sat with just one. The Don Mattingly rookie card.
I waited patiently. From working deals with collectors much more savvy than Bill, I knew that you couldn’t rush a trade. Appearing too anxious could tip the other side off that you thought you were getting too good a deal. And this was going to be a whopper of a deal. The rookie could be sold and used to buy hundreds of lousy Cubs players.
Bill pondered for a few moments and then a twinkle formed on the periphery of his glassy eyes. He grabbed his nine cards and placed them carefully into the box containing the rest of his mediocre collection.
I placed my card on the sideboard next to my bed. Once Bill left, I would find a suitable plastic case to protect it.
The art of deception. My first lesson in business.
No regrets
Bill’s mom came a few hours later to pick him up and shuttle him back home. By then we were immersed in role-playing the latest episode of GI Joe with our action figures. We imitated the various characters voices and moved the figurines to and fro. All the while, my eyes would wander up to the nightstand and glimpse the beautiful piece of cardboard that was now mine.
Bill’s mom helped him gather his toys and cards, and made a gentle attempt of tidying any disarray she imagined had to do with her son. Before leaving, she looked at Bill sternly.
You didn’t make any unfair trades, did you?
Bill’s cheeks turned a rosy red as he sheepishly answered his mother. I averted my eyes for a moment but recovered quickly.
No regrets. My first lesson in business.
The Telltale Heart
I slept poorly night after night. I kept hearing Bill’s moms words over and over. The pink of his cheeks as he squirmed through the answer. It was only later that it hit me. Bill, unaware as he was, probably thought that he had taken advantage of me. In his untrained mind, he figured that he got nine cards and I only got one.
I pictured him tossing and turning in bed similarly. Feeling bad and not knowing that I had, in fact, plotted out the whole playdate to get my hands on that one card.
We passed each other in the playground during lunch period. Each of us averted our eyes for similar reasons. We both realized that something dishonest had occurred. Both of us felt guilty.
My first lesson in business. The taste of victory is tainted by dishonesty.
Sliding Doors
I could tell you that I kept the card, walked away from our friendship, and rarely talked to Bill ever again.
Or, I could say that I invited Bill over the next week. Made a foolish trade, returning to him the Mattingly in a lavish protective case, and accepted some horrendous grouping of the St Louis Cardinals infielders.
I’ll let you decide which ending you like better.
But I will share with you my first lesson in business.
It feels much better when all parties walk away from negotiations winning.
The proverbial “trade rape”…. i did it all the time in fantasy football, sometimes it’s easy to get caught up in winning over giving others a fair shake. Maybe it’s the feeling that it’s their own fault for not knowing better.
… do we get a pass since it was just a game?
I think we do get a pass in games. The idea is to maximize advantages. There is a time though, in business or pleasure, when you know you are being unethical. I find that it is important in business to keep this in mind.
I would say both parties walked away from the negotiation table winning. All Bill was interested in was the Cubs players. He got what he wanted. You got what you wanted. So it’s a win-win situation.
Now, if you told me that you “tricked” him into wanting the Cubs players then that’s a different story…
Fair enough, but there was definitely asymmetrical knowledge that favored me. The clincher, is that he could have sold his card and bought all the Cubs cards he wanted.
Completely agree!!
Great business lesson. I think the subsequent guilt could put a a damper on a deal. Maybe because it was a close friend highlighted it. I wonder you would have felt the same way had it been a complete stranger at a swap meet or something. Likely why most people don’t like doing business with friends and family
Good point. I wonder if that would of made a difference or would the guilt have still been there.
China it turns out is more capitalist than USA. In China if you need something you go to the market, and each class of items has a market. I went to the computer market in Hong Kong and it was a 8 story building of booths. The booths were filled with goods to make computers, motherboards, hard drives, power supplies, bootleg software, occasional real software. Around each booth were people. There were toothless old grandpas in bib overalls and kids in school uniforms and all manner of people and one round eye from FL. I watched the commerce take place and it was clear if you understood the market you could come away with a hell of a deal. If you didn’t you were hosed. This market thing duplicated across items. I Nan Jing I was walking around and turned down a street. This street was screw boulevard. The were rows of booths with buckets of screws, and just like computer land if you understood the market and could deal you could buy your screws dirt cheap. No Lowes with their 10000% retail markup, just raw commerce. It was beautiful. When I traded commodities it was the same way. You made your money by winning more than you lost and you did every legal thing you could to gain advantage. There is no shame in commerce and there is no reason to give away your advantage out of some kindergarten teacher’s understanding of fairness. In commerce if you’re a dumb ass you don’t get a trophy.
True. Yet I think for long lasting relationships, it’s sometimes nice when everyone finds their needs met.
I can’t relate to the trading of baseball cards, as I was into a Barbie doll phase at that age. And still have Suntan Barbie , the Country Camper and some unopened boxed Barbies. But, What I can relate to and respect is that younger you showed great integrity! It’s definitely needed in our world!
My daughter loves Barbie’s. And I still own baseball cards. Childhood dreams die hard.
I’ve been on the receiving side of one of those trades and found out shortly thereafter. It’s actually a big fear now with our oldest. He’s into Pokémon cards but I fear he’ll be taken for a ride. Then again it might be a good lesson.
That’s funny, with my son I fear the exact opposite. That he will take someone for a ride.
I’ve learned that I sleep better knowing a business deal was win-win. Both of us should come out in a good position. I was making a deal once when I was a young doctor and asked why this person had not gone for a previous deal we both knew about. He said, “I know about X’s business deals and I’ll have no part in them.” That was an eye opening moment for me. I learned that if you treat everyone fair and square, you get a lot of repeat business. If you always slant deals in your favor, people start avoiding your deals. You business will grow a lot more if you are known for fair deals.
Dr. Cory S. Fawcett
Prescription for Financial Success
I agree. if you go at negotiating with the right intention. Good things happen now and in the future.
One lesson I see is the role of his Mother, “You didn’t make any unfair trades, did you?”. Even if you and your friend had a win-win, in business deals there are always other people whose opinions influence things, for better or worse.
True. i guess the point is if you want to do business with that person again, it better be reasonable.
A rule for me is not to do business between family and friends. It has a way of ruining relationships and no amount of profit is worth that loss. I don’t like loaning or borrowing from family either. The turkey doesn’t taste as good at Thanksgiving dinner.
Oh well, there goes that plot of swamp land I was going to sell you! I guess I’ll be seeing you at Thanksgiving.
I’ve been a Cubs fan for 34 years, so a kid I can imagine the excitement of having an entire team of Cubs cards and not thinking about the potential value of a Don Mattingly card. And saying horrendous and St Louis Cardinals in the same sentence is priceless.
Once a Cubs fan, always a Cub fan.
Trading cards used to be like a poker game, that’s how I saw it. Wear sunglasses, don’t smile or use facial expressions.
BTW, I’ll trade you a Mookie Wilson for that Mattingly… 😉
Mookie, Mattingly, although my eyes still light up, they are worth nothing now.