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HALF-TRUTHS, TOTAL LIES
Every CEO does it: stretch the truth
a bit to entice a potential client, woo a lucrative partner with
sweet talk, or dress up the facts to seal a deal. It’s just
the way business works. Right? Yes and no. Business does well to
have leaders able to exude optimism, bid aggressively and never
reveal their hand. After all, prospective partners – be they
clients, suppliers or investors – judge you on your ability
to convince them that you can do exactly what it is you claim you
can. And while you may have every intention to prove yourself if
only given the chance, you probably won’t go far admitting
that your company is new, has no track record or is short on capital.
There are times when ruthless honesty simply won’t cut it.
But beware… there is a fine line between posturing and outright
lying.
We all posture. After all, you wouldn’t simply buy a LE 5
million office complex at the asking price. Instead, you might tell
the seller that the most your “struggling” company can
afford is LE 3 million. And he might reply that the best he can
do – if he pulls a few strings – is LE 4 million. In
reality, it is likely that neither of you are telling the truth
– you’re bargaining, or posturing, to get the best deal.
Posturing is an integral part of the game. For some it might mean
playing up your positives while glossing over your negatives. For
others it might mean less savory tactics like stringing along one
supplier to pay another or fudging the financials to disguise your
loss-making ventures. Whatever route you take, it’s best not
to lie. Because once you get a reputation for lying, it sticks.
Your customers will know it. Your employees will know it. And don’t
be surprised if they treat you the same.
CAM MCGRATH
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