Can the simple rules of capitalism help you with life’s predicaments? In both family and business, all of us are forced into situations where we have reached an impasse with someone else. Often the “facts” favor each party’s perception of the conflict. Before entering into a conversation that can become heated, one simple rule of thumb to remember is the supply and demand mindset. On the demand front, it’s important to never demand anything during the conversation. The goal should be to determine what the goal is and work towards an action plan that is acceptable to both sides. This is not easy to do when we think we are “right”, but it’s a simple rule to remember once the emotions start flaring.

On the supply front, it’s a good idea to start the conversation by admitting what part of the conflict you have supplied. This is the most difficult but most important part of resolving the problem because we often think in terms of facts and evidence, but the only reality is that both sides have contributed some part of the awkward stalemate. This also requires serious self-examination as the contribution may have been doing or saying nothing for too long of a time. When having difficulty identifying what your contribution may be, viewing the situation from the other person’s point-of-view can often help. In many cases, the admission of what one person supplied to the problem will result in other person following the same course, and in the end, the conversation has a much better chance of both parties having their demands met.