"اما مدیران چنین شرکت‌هایی، که بیشتر مدیران پول دیگران هستند تا پول خودشان، نباید انتظار داشت که با همان دقت و مراقبت پیگیرانه از آن مراقبت کنند."

When people are in charge of someone else's money, they aren't going to be as careful with it as if it were their own. This idea, pretty simple when you think about it, highlights a common challenge in business and finance. Those who manage funds that aren't theirs might not always make decisions with the same level of care and attention as if it were their own money on the line.

Historically, this concept comes from Adam Smith's "The Wealth of Nations," written back in 1776. Smith was laying out some major economic principles, and this bit was about the behavior of company directors. Back then, and still now, there was concern about how people entrusted with other people's investments might not have the same commitment to safeguarding those funds as they would their own.

Think about a modern-day example: the 2008 financial crisis. Many of the decision-makers in big banks and financial institutions were handling vast sums of other people's money. They made risky investments and took chances that, in hindsight, were reckless. When everything went south, it wasn't just their money that disappeared—it was millions of ordinary people’s savings, homes, and futures at stake. The directors and managers weren’t as personally affected, which was a huge part of the problem.

So, how can you apply this nugget of wisdom? If you're in a position where you’re managing other people’s resources, try to act as though it’s your own. Imagine the consequences if a bad decision could directly impact your pocket, your family’s stability, or your future. This mindset can help keep you grounded and more conscientious in your actions.

Let’s paint a picture. Imagine you’re the treasurer for a local charity. You’re handling donations that the community has entrusted to your organization. Instead of treating it like an unlimited pool of cash to spend on fancy events, you keep a tight budget, always questioning if each dollar spent is truly necessary and if it’s being used in the best possible way. You think about the donors—your neighbors, friends, and local businesses—and how much they trust you to make a difference. This perspective not only helps you make better decisions but also builds trust and credibility for the charity.

Or consider a small business owner who’s looking to expand. They take out a loan, using other people’s money—through a bank or investors—to fund their growth. If they think of this money as their own hard-earned savings, they’re likely to be more cautious, avoid unnecessary risks, and focus on sustainable growth, rather than making hasty decisions that could jeopardize their business and the money of those who believed in them.

Ultimately, the key is empathy and responsibility. When you treat other people's resources with the same care and caution as you do your own, you're more likely to make choices that benefit everyone involved. This approach isn’t just good practice—it’s fundamental to building trust and ensuring long-term success in any venture.