I was pleased to see in today’s newspaper that Wells Fargo Bank is doing “okay.” I especially like the quote by Georges Yared who said, “‘They [Wells Fargo] did not build a business around subprime or Alt-A mortgages. They built a business on high-quality mortgages. Wells has really stuck to its knitting and not varied from that.'”
That is one cool assessment! “…stuck to its knitting and not varied from that.” What does this mean to you? To me it means a business with integrity and a company culture of ethics. Does your business have that? Is integrity and ethics part and parcel of daily business for you? Not just is the product first class, but is the business first class, is the corporation first class? Integrity and ethics. “Sticking to its knitting….”
I found an interesting article in a 2007 article on Entrepreneur.com about building trust with your customers. Sales is an interesting thing everyone in business does. It doesn’t matter if you sell a product, an idea or a service, we all sell something. And, again, doing business with integrity is key to being a first class business. Doesn’t matter if your business is a multi-billion dollar corporation with thousands of employees or a 1-person home-based business, integrity is crucial to long-lasting success.
As example, yesterday at lunch – at an outdoor cafe in a neighboring town – I overheard bits and pieces of a conversation with a salesperson and his two clients. What caught my ear was a phrase the salesman used: “Not sure yet? Then let me sweeten the pot.” This made me pause and think. Why wouldn’t everything the salesperson had to offer already be on the table? Why would he need to “sweeten the pot?” Why wouldn’t he already have given his potential clients the sweetest product available?
Be upfront, be clear, “what you see is what you get,” no hidden anything…seems to me a well-knit business, without ravelling edges and broken yarn…would need to have integrity as the skein from which it’s made.