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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

The 3 Ps– What Gordon Gecko Can Teach Your Business

Written By: Carol Roth | No Comments
Forget “Greed is Good”, Gecko has a new tune and outlook for business today

Frank Angelone of SocialTechZone.com and I worked together on this post- I hope that you enjoy it.

Wall Street 2 has been out now for a few weeks and it made us think about the changes that Mr. Gecko has undergone and what your business can learn from it.

If you remember, Gordon originally made the phrase “Greed is Good” a cultural icon, but a lot has changed.  Mr. Gecko transformed from being driven by a money-and-success-at-all-cost mentality to a different sort of moral code.  While making money is a key reason to be in business, if you have that as your sole focus, you can lose the forest through the trees and actually impair your business.  So, if you are inspired to transform from a money-only focus like Gordon, focus instead on the “3 Ps”- which aren’t greedy and can help you achieve success.

Patrons – Some companies focus so much on the money, they forget where the money comes from- happy customers!   Businesses that serve their patrons position themselves to succeed.  Many entrepreneurs are me-focused (like the Gordon Gecko of old).  Simply shifting your mindset from being all about you to bringing what you have to the service of your customers can make all the difference.

People – The old Mr. Gecko was more interested in using people than developing people (even Bud Fox).  However, people- whether employees or partners- are critical to an organization.  An open culture makes for a great place to work and raving fans inside of your organization translates to a great brand.  Take Southwest Airlines, for example.  They’re a representation of a company doing the right thing.  They create an atmosphere that employees want to be a part of.  The fact that Southwest’s employees are happy translates into great experiences for the customers (and ultimately, into profits).

Patience Many overnight successes are decades in the making.  Money comes with time, hard work and patience.  Many people want results instantly- the quick fix or the silver bullet.  Who doesn’t?  But if it sounds too good to be true, it probably is.  There is a reason it is called “work” to begin with.  Greed is synonymous with impatience. It is all about wanting it now, at any means possible.  That didn’t work out so well for Gordon, now did it?  It won’t for your business either.

While it is important to have a focus on money, profits are influenced by a broader purpose (including the 3 P’s above).   Use Gordon Gecko’s evolution as inspiration to take your business to the next level.

Do you have any other Wall Street lessons to add to the mix?  We would love to hear them.

Frank Angelone is a blogger at SocialTechZone.  He talks about social media strategy for individuals and small businesses, as well as providing tech tips for improving their computer performance.  He also runs a tech support company providing remote technical support.

Article written by
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a judge on the Mark Burnett (Shark Tank, The Voice, Survivor, The Apprentice) produced technology competition series, America's Greatest Makers, airing on TBS and Host of Microsoft's Office Small Business Academy show. Previously, Carol was the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country, and a contributor to CNBC, as well as a frequent guest on Fox News, CNN, Fox Business and other stations. Carol's multimedia commentary covers business and the economy, current events, politics and pop culture topics. Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011-2015) and has her own action figure. Twitter: @CarolJSRoth