Is Honesty Really The Best Policy in Business? With Rabby Mendel Potash
Is honesty really the best policy in business? In Episode 894 of Fried On Business , Jim Fried sits down with Rabbi Mendel Potash for another conversation in their business ethics series, this time focused on honesty, transparency, disclosure, negotiation, and the purpose behind doing business the right way. Jim starts with a real-world dilemma: business negotiations are rarely completely straightforward. Sellers have asking prices, brokers have “whisper prices,” buyers have limits, and everyone is trying to protect their position. So where does legitimate negotiation end and dishonesty begin? Rabbi Potash approaches the question through Jewish teaching. He explains that business is more than a way to make money; it is part of a person’s mission and an opportunity to become a better human being. If dishonesty violates that mission, then even a small financial gain can come at a much greater cost. The conversation turns practical as Jim discusses real estate transactions, material defects, disclosures, hurricane damage, construction problems, and situations where saying “I don’t know, but I’ll find out” is far better than misstating the facts. Rabbi Potash introduces the biblical principle of “honest weights.” In ancient commerce, merchants were commanded not to manipulate the weights used to measure goods. For Jim, that ancient idea translates directly into modern business: use honest numbers, disclose what must be disclosed, be transparent about what you know, and do not create a false impression simply to close a deal. The episode ultimately asks a bigger question: What is business for? Jim and Rabbi Potash argue that business can create value, strengthen relationships, help other people, and make the world better—but only when integrity remains part of the foundation. Their bottom line is simple: transparency, ethical conduct, and “honest weights” are not obstacles to successful business. They are part of what makes success worth having. Trust built over years becomes a competitive advantage in business. Fried On Business is proudly presented by Warren Henry Automotive. --------------------- Jim Fried has been a real estate business person since 1980 and has had his own radio show since 2009. Mr. Fried specializes in capitalizing commercial real estate transactions, unearthing urban land opportunities and is also a private lender. He has been active in the real estate industry for many years as a financial intermediary, broker and investor. He has experience with many property types including, but not limited to: apartments, condominiums, retail centers, office buildings, industrial parks and health care – with a special focus on memory care. Jim has closed over $3BB in real estate transactions during his career in markets across the eastern US. Jim uses his communication skills to inform and entertain on his weekly podcast show – Fried on Business. Of course, the show discusses real estate, but he also tackles issues such as branding, sports business, philanthropy, entrepreneurship, public private partnerships as well as health and wellness. He is also a mentor to many up and coming people in the real estate industry through his membership on the Board of The University of Florida’s Bergstrom Center for Real Estate Studies. Mr. Fried is a winner of the Miami-Dade Public School Alumni Achievement Award. Contact Jim via email at jim@friedonbusiness.com

