Why business needs to be honest

Estimated Time To Read This: 3 – 4 minutes

In the modern business environment we know that relationships are everything. Honesty is a crucial component for any relationship. As the selling marketplace changes to a more online environment, trust becomes more challenging. This is why businesses need to be honest all the time. Word of mouth travels fast and to build long term success we have to make sure that every customer is satisfied, which starts with honesty and trust.

Being honest has other benefits too. When you are completely honest, expectations become very clear. It is hard not to live up to expectations when you are completely transparent as to what you can and can’t do. Also honesty can help weed out poor prospects that may end up being a waste of time otherwise.

Does this mean that by being honest you will lose business? The answer is – potentially, in the short term. If your product does not have clear benefits for a customer, they may choose to go to a competitor, but the odds are that they’ll remember you and your honesty. Customers may initially go to another supplier for a comparable product but you will be top of mind when they are looking to replace their current system/product. Additionally, if the current product does not live up to expectations, you will be the first person that the customer will call. The key here is that you have to really understand what your customer is looking for, and demonstrate how your product meets those needs. You must do this without dodging and avoiding questions or topics. This is easier said than done.

I would like to use a real world example. When I used to work retail, I would often have customers come in to the store I worked at and ask questions. I would give them the most honest answers I could. If our products couldn’t meet their needs (often price) and a competitor had something that could, I would let them know. I would leave the decision in their hands. Sometimes the people would buy our product because “I had been so helpful” and other times they would go and purchase the competitors product. I felt good knowing that I was actually helping people make decisions based on what they needed instead of just what I was selling. Even if those people left to purchase their product somewhere else, they would most often return later when they needed something else and look to speak to me. I may not have gotten the sale at the time but I would build trust and have customers coming back because of the relationship I built. Of course this is just a simple example and as you move to a more complex selling environment; the relationships you build are the backbone of your sales and business. Honesty in any relationship is key.

Key Thoughts

Being honest is easy if you can objectively evaluate your product and find out exactly where you can help a prospect, but don’t exaggerate or make promises that are not able to be kept. It doesn’t help anyone and breaks any trust that you may have established.