Friday, February 14, 2020

Flashback Friday - A Simple Yes Will Do - Martin Wiles

A Simple Yes Will Do

While growing up, "Little House on the Prairie," was one of my favorite television shows. One touching characteristic of the series was how the town’s inhabitants trusted each other. After all, it was through teamwork and trust that the town had materialized on the Midwest farmlands. Farmers normally had no funds to buy seed and other items needed to plant their fields. But not to worry. Charles Ingles—like any other farmer, could saunter into Oleson’s Mercantile and walk away with seed and any other needed items to plant his fields. Mr. Oleson simply gave farmers the materials based on their promises to pay him when the crops came in and were sold. No paperwork to sign. No binding contracts. Just a simple promise to pay, perhaps accompanied by a handshake. Good track records and reputations led to mountains of reliance. Read more...

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