Commodity Quote by Victor Kiam
“Though negotiations are a rough game, you should never allow them to become a dirty game. Once you've agreed to a deal, don't back out of it unless the other party fails to deliver as promised. Your handshake is your bond. As far as I'm concerned, a handshake is worth more than a signed contract. As an entrepreneur, a reputation for integrity is your most valuable commodity. If you try to put something over on someone, it will come back to haunt you.”
About This Quote
Source Speech: Business Ethics Talk, 1984
Business deals should be honored; integrity and reputation outweigh legal contracts, as broken promises damage trust and future opportunities.
In simple terms: Keep promises, value reputation.
Key Takeaway
Honor agreements, protect reputation.
Themes
integrity
trust
reputation
business ethics
contracts
Mood
cautious
determined
Type
ethical
practical
When to use this quote
- negotiations
- entrepreneurial ventures
- partnerships
- client relations
Key Concepts
Moral philosophy
social capital
contract law
Questions to Reflect On
- How do you handle a partner who fails to deliver?
- When is it acceptable to renegotiate a deal?
A Different Perspective
Rigid adherence to contracts can ignore legitimate breaches or changing circumstances.
