Glenn Beck Blogs: The B-School of Scandal

Television host and conservative pundit Glenn Beck challenges everything from politics to political correctness on his hour-long CNN Headline News show. Beck, however, has become a business franchise of his own, with a radio show, website, speaking tours, bestselling books, and a comedy magazine, Fusion Magazine, that he publishes. Beck will spend Thursday blogging about his business and yours. One day. One place: Portfolio.com.

Every day, I have no choice but to read and watch an endless supply of news and analysis. Sometimes it can all get a bit overwhelming. That's why you always have to search for the little nugget of information or relevance that you can apply to your daily life. Watching the news provides just as many business lessons as any university; it's just a matter of how you look at them. These, for example:

John Edwards Scandal
LESSON: Make sure your major partners are loyal, honorable, and forthright.

We've gone through so many scandals with politicians on both sides of the aisle that we've begun to believe it's par for the course. We excuse their lapses of character. Well, character does matter. In business, I've found that working with dirtbags, even if they seem like they can do their job well, always burns you in the end. The main reason I know that is because for most of my life, I was the dirtbag. If your gut tells you that someone is shady, believe it. There's always someone else that will want your business. Look hard enough and you can find someone to deal with without having to feel like you can never get clean again.

Another helpful tip: Don't cheat on your sick wife.

Georgia Versus Russia
LESSON: A contract is only a contract--if the other party bothers to follow it.

The entire business of doing business has changed so drastically since our parents and grandparents were running things. In many ways, for the better--but in so many other ways, for the worse. We've gone from a look in the eye and a handshake to never-ending contracts that no normal person could ever understand. And the longer the contracts are, the more people are paid handsomely to figure a way out of them.

Seeing Georgia attempt to secure a cease-fire with Russia is both terrifying and laughable. Russia simply does whatever it wants to do, contract or not. Contracts don't make things happen, trustworthy individuals do. Try to only do business with those you don't need a contract with, because with most others, even an ironclad contract won't be ironclad enough.

All of this is yet another reason to avoid having business associates that are also former K.G.B. members.

Larry Craig Scandal
LESSON: Make sure your partners have the same vision of important transactions that you have.

Choosing your partners in business can be daunting because there are so many different variations to consider. That's why it's important to focus on the bigger issues. Does your partner envision the deal the same way you do? Do you both have the same goals? Will he arrest you inside an airport bathroom? It's important to know the answers to questions like these before entering into an agreement.

Fannie Mae/Freddie Mac
LESSON: Don't run your business like Fannie Mae or Freddie Mac.

This one is pretty self-explanatory.

Eliot Spitzer
LESSON: Make sure your company is competent throughout the business.

Besides the obvious, there's one important reason Eliot Spitzer was going to a professional instead of a giggly intern. Discretion. It was part of the customers' expectation that the escort company of choice made sure what happened in the back of the limo doesn't end up on the front of the papers. They failed as miserably as Eliot failed at fidelity.

Remember, no matter how great your product is, the person buying it is also buying everything from your customer service to your shipping, and perhaps, your ability to make sure you're not being wiretapped. One bad link in the chain can make an otherwise pleasurable experience into an embarrassing resignation speech.