You’re only as good as your word. This adage has held sway for generations because it contains so much wisdom. There is a reason why we talk in terms of needing to “build trust” and why it is so hard to mend fences once trust is broken.
This applies just as much in business as it does to relationships. In general, people can forgive mistakes — but they will never get over it if you outright lie or try to deceive them.
Fortunately, being forthright and upfront is actually easy, and it can do wonders for your company. Because so many salespeople are seen as unscrupulous and underhanded tricksters who will do anything to make a buck, standing out from the pack is not that hard.
The how is the easy part though: Just be honest. How about the why? Well, for those who still need convincing, the following areas represent three reasons why honestly always matters in business.
1. Growing repeat business
Getting someone to pay for your product or service even once is difficult. But you know what is even harder? Getting them to come back for more. This is where both the best global brands and revered local institutions thrive. And they are only able to attract and retain business — time and time again — by being honest with customers and offering exactly what they say they will.
They don’t cut services or raise fees once they think they have you locked in. They don’t skimp on quality but deliver exactly what they said they would. And this pattern of honestly is the only thing that can earn the trust — true trust — that creates life-long customers who enthusiastically provide the invaluable word-of-mouth recommendations needed to grow your company into a juggernaut.
2. Seeking forgiveness
A trusted company is often able to recover much quicker than one with little credibility. Everyone makes errors. But it is how you respond that makes the difference. This means owning mistakes, offering sincere apologies, and following it all up with action. And it is the final part of that equation that is the most critical. Anyone can say they’re sorry.
But what will you actually do about it? Brands like Facebook, for example, have lost credibility among many users by apologizing time and time again only to effect no major policy changes. If people stop believing that you are honestly sorry, they will no longer believe any thing you say and your brand may crumble away to nothing.
3. Protecting your brand
Some organizations choose to pretend that bad press doesn’t exist and just put their heads in the sand. But silence can often be seen by the public as an admission that fake claims are accurate. Amway is a great example of a company that has had to confront rumors — about the unfounded “Amway Scam” — and it has chosen to do so openly and honestly.
By fighting back and standing up to protect its good name, the company has solidified its reputation of responsibility among consumers and, perhaps more crucially, its trusted network of business owners. Companies often run into problems when they get into he-said, she-said battles. But those that present fact-based, objective arguments see their credibility and trust continue to grow in the marketplace.
Staying true
Ultimately, business owners should not need a dollars-and-cents reason to be honest. It is simply the only ethical way to operate — whether you’re a lemonade stand, local service provider, or multinational conglomerate.
But even for those tempted by the dark side in the pursuit of profits, there are practical, business reasons as well. Honesty and trust help you retain customers, improve your chances of recovering from mistakes, and lend you the credibility to stand up for yourself against false claims.
Each of these benefits can do much more for long-term growth than any one-time sale built upon falsehoods and fabrications. By being honest in all transactions and communications, you can always stay true to yourself, your customers, and your revenue goals.