12. Integrity – The most obvious attribute that isn’t on my original top list is “integrity” or honesty. If I thought I could make a lot of money backing somebody that made money through low integrity I would personally pass.
I know that sounds trite but that is exactly how my firm talks about things in partner meetings. If we’ve seen a company present where we feel that the CEO is shady. It becomes a large part of the conversation in our partners’ meeting afterward. A few months ago we saw a CEO present who had personally made hundreds of millions of dollars in a financial services business and had a plan to capitalize on the current market conditions. A large part of our post meeting conversation was how we felt the individual seemed to be of low integrity. We thought he might actually find a way to make money again – but we decided he wasn’t the type of individual we could work with.
I agree; integrity, honesty, transparency are very important in working in a partnership or business or as a team. It's more important than making money.
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