Honesty and reliability – the one-two punch for success. Those two factors have proven to be the common denominator for business prosperity. There are many reasons why some businesses succeed, while others fail miserably. A lack of honesty and reliability will certainly lead to the demise of any business, no matter how big it is or where it’s located.
Honesty
Integrity is usually the first word that comes to mind as it relates to honesty. When the word honesty is used, it is normally associated with people rather than businesses. It is true that the people working for a business do the work and are the representatives for the business. However, the honesty of a business is a reflection of the employees who work for that business.
Not sure if the business you’re dealing with it honest? Then ask yourself the following questions:
– Does the business follow a code of ethics?
>- Is the business truthful in ALL of its interactions with anyone associated with the business ranging from customers to investors?
>- Does the business fulfill its promises?
>- Is the business loyal and trustworthy?
– Does it promote a culture of reliability and fairness?
Business honesty is not conducted behind closed doors, instead honesty is very visible to everyone and anyone who comes in contact with the business. Whether it is producing high quality products or providing high quality customer service, business honesty is front and center for everyone to see. Satisfied employees and devoted customers are just two benefits associated with an honest business.
Reliability
Reliability goes hand-in-hand with honesty. A reliable business is a business that is both dependable and genuine. An honest business also must have trustworthiness as one of its core values.
How do you know if a business is reliable? Think about these questions:
– Do the investors or sponsors think the business is truthful?
>- Does the business follow a code of ethics?
>- Can the investors count on the business when the occasion demands?
>- Is it considered to be an honorable company?
A business might be reliable 99 out of 100 times. However, that one instance where the business got caught acting inappropriately can destroy years and years of ethical behavior. At the same time, one instance could mushroom into acting inappropriately two…three…or four times. At that point, the damage could be irreparable because the business not only has lost its reputation, but its sales as well!
Without its reputation and reliability, a business can count on losing customers and seeing sales drop. In order for customers to have faith and trust in a business, customers must believe in the credibility of the business. A credible business attracts quality employees, customers, investors, and stakeholders. So, it is imperative for a business to be reliable and trustworthy ALL OF THE TIME.
Honesty and Reliability
Honesty and reliability complement each other. Therefore, if a business is honest, then it must be reliable? Or, if a business is reliable or credible then it must be honest? That may or may not be the situation. Both honesty and reliability characteristics need to be one in the same in order to accomplish the one-two punch for success.
Therefore, it doesn’t matter the size of a business or where it is located. If it plans to survive and thrive in today’s ultra-competitive business world, every business needs to be honest and reliable. A thorough self-evaluation by the owners and/or management team will determine what areas need to be improved when it comes to honesty and reliability. Otherwise, the competition will capitalize on your weaknesses.
At the end of the day the motto for every business should be…honesty and reliability – the one-two punch for success!
