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Black Connect
by on August 26, 2019
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Last week we shared 5  Tips to Grow Your Network and Build Your Team as an Entrepreneur.  The central theme woven throughout that article was integrity - "your character becomes your business reputation." 

Integrity has been at the heart of recent events that have been the subject of national discussion and debate. Jay'Z's recent announcement of a partnership with the NFL and statement that "we're past kneeling" appeared to many to be an about-face from his widely publicized allegiance to former NFL quarterback, Colin Kaepernick.  

Kaepernick sued the NFL for colluding to keep him out of the league because he chose to kneel during the performance of the national anthem at every game in protest of police brutality against African-Americans.

Whether you demonstrate integrity at the highest level like Kaepernick or the lowest level, as many believe Jay-Z did by partnering with the NFL, in today's business world, integrity still matters. 

As an entrepreneur, it is essential that you understand that people do not separate you from your business.  So, the level of integrity you display can make or break your personal and business reputation.

Integrity is the foundation upon which a reputable business is built. If you're not a celebrity and you lack this vital virtue, you won't go far in your journey. You cannot monetize integrity. However, if you make it your business watchword, it will save you money and attract profitable opportunities. 

 

Do You Know The Meaning Of Integrity?


Before we continue discussing integrity in business, let's have a better understanding of the word. It's an aspect of moral character that connotes honesty, truthfulness, and trust. 
As Warren Buffett's said, "Honesty is a very expensive gift. Don't expect it from cheap people."

In the business world, your level of integrity will be judged by many variables:

  • Consistency with the delivery of your product or service
  • Quality of products and service
  • Competent and honest communication with stakeholders
  • Honoring promises and commitments 

 In a nutshell, be consistent with your value creation. Never fail to uphold what you promise in your value statement. 
 
 

The Importance of Integrity in Business

Irrespective of the product you sell or the services you offer, you have to maintain integrity to stand the test of time. Here are some of the reasons why honesty and trust are essential in business. 

 

 #1. Strong Reputation


Whether you are dealing with a supplier, investor, customers, or business partners, you should be reliable and communicate in a timely and straightforward manner.  Building strong relationships with your stakeholders will equate to leads, positive online reviews of your business, and a good reputation within your industry.


 #2. Employee Satisfaction & Company Culture

Integrity is the root of a company's culture. When you act with integrity, you are leading by example. People want to work for someone they respect and can learn from. Your ethics and uncompromising principles contribute to your employees' job satisfaction and willingness to go the extra mile to uphold your company standards.


#3. Brand Ambassadors


The price and description of your product or service should accurately reflect the quality.  A product is not "luxury" or "high end" or "high quality" just because you slap a high price tag on it.  It is the quality and value of the product that drives the price.  

Avoid deceptive advertising and making promises your product cannot deliver.  Be honest when describing your product and the value it creates in the lives of your customers.  If your product or service lives up to your description of it, you will earn repeat business and become a brand that your customers trust.


 #4. Clear Conscience

Duplicity increases stress and drains time and energy. If you are dishonest or deceptive in your business dealings, you will find yourself in uncomfortable situations. Don't put yourself in a position where you'll have to avoid certain people and conversations, and have to keep track of the different stories you've told people.  


Integrity is a healthy business habit to develop at the inception of your business.   You always want to be able to walk into any room, answer any phone call, or engage in any conversation with a clear conscience.


Final Words

Integrity is a seed that will bear good fruit. There is profitability in honesty.  Don't forget that success in business doesn't happen overnight. For you to be successful, you must have a long term vision. When you act with integrity, you can focus on getting the best results in the next few years, instead of the next few minutes.  


In the next article, we will provide entrepreneurs with examples of how to act with integrity in business.

Posted in: Business