I think most of us have grown up with that phrase from early childhood, but this is one of the most important qualities of any successful business. People do not bring return business or refer friends to businesses they don’t trust.
If you or your staff neglect to include something or inform clients of that others might have thought was important it will impact your credibility as much as lying outright. Keep this in mind: As much as people celebrate good surprises, they tend to give just as much, if not more publicity to bad ones.
Remaining honest is also important as companies and staff adjust and adapt while increasing the appeal of the good or service your company provides.
Make sure your staff live and breathe the doctrine that if something’s wrong, not to wait until you have to react to someone else pointing it out. Get in front of the issue and make sure that the people that have entrusted you to do business with know you’re doing all you can to resolve it. The longer you leave people hanging, the more likely they are to think the worst and look to replace you—and depending on how serious the issue is, perhaps even remove you.
Perhaps the best way to remember the importance of full and complete transparency in business is to remain mindful of the fact that a business is meant not only to cultivate a community of people interested in the product or service it offers, but to offer something that benefits the community that contributes to or is affected by that company’s actions. Yes, honesty and transparency is certainly an appealing means to a lucrative end, but it’s also an end in itself; it doesn’t just help businesses become financially successful. It makes the business and staff good citizens. And good citizens never go out of business.