Business Ethics – When to Say When?
Recently I went through a challenging time when a business associate that I very much respect, felt that my ethics had been lacking in the way I had handled a particular situation. This caused me an enormous amount of anxiety and upset because my integrity is probably the thing on which I place the most value as a business owner. Having that called into question will never be something I would take lightly.
I spent a great deal of time in thought about the whole situation. I turned to other business colleagues asking for their honest opinions about what had occurred. In the end, I absolutely accept that mistakes were made on my part AND can honestly say that I fundamentally disagree with the accusation that my actions, at their core, were in any way unethical.
At the end of the day, as painful a time as this was, I think it raised an important question that we must all address as business owners: How much are you thinking about business ethics? The truth is that the more your business grows – the more you will face decisions about the “right” way to handle things.
There will be times where right and wrong are pretty clear and straight forward. Hopefully, we all grew up learning not to lie, cheat or steal – basic principles that of course hold true in all aspects of business. There are certainly no grey areas when it comes to how you handle your money. As business owners we must ensure our financial record keeping is clear and honest, that our customers are billed accurately, and charged fair prices for quality products and services. Accurate reporting of your earnings and prompt payment of any taxes owed – will allow you to avoid costly penalties and ensure the longevity of your business.
However, there will also be situations where the “right path” might not be as clear. Will you take on a client whose company competes with a friend or business associate? What about a client with political opinions drastically opposed to your own? Would you consider outsourcing a service you need to a foreign country to significantly cut business costs – even in the midst of an economic crisis in your own country? These are just a few examples, but it is quite possible for two fundamentally honest and ethical business owners to disagree on one or all of these questions.
The only successful people are those who can sleep at night after a hard day’s work. Just because someone can reach their financial objectives quicker by cutting corners does not mean that they won’t be giving up something priceless along the way. Spend some time thinking about who you want to be and what you want your business to represent. Then if there is ever a question of your ethics being tested, you can turn back to – and remember your ultimate goal. Everyone is not going to like and agree with your choices. But it is important that YOU can stand behind them.
While there has been much in the news as of late that might make us think otherwise, the truth is that you can achieve all the success you want in your small business, with your ethics fully intact. For resources to support you on your journey visit http://www.AbundanceBoundSystem.com.
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