Fake It Until You Make It Rarely Pays Off For Entrepreneurs

Author

Chris Myers, Contributor

June 17, 2015

We live in the world where “fake it until you make it” has become a commonplace behavior, especially for entrepreneurs. Startup founders in particular face incredible pressure to look like an overnight success, which can lead them down a dangerous path of deception.  However, I’ve found that the short-term benefits of deception, no matter how small, always give way to larger headaches and challenges.

We all face the temptation to exaggerate and deceive.

The temptation to present oneself in a different, potentially better light can be strong.  After all, creating something from nothing can be a herculean effort and most entrepreneurs will do whatever it takes to help that process along, even if it means stretching the truth from time to time.

Early on at BodeTree, I used to joke about how often we encountered “truthiness” in the marketplace.  “Truthiness” referred to making statements that were accurate in spirit, if not in fact.   Often, we’d hear people squirm when describing the number of customers they have, or what their technology could do.  I struggled the temptation to overstate technical ability during the first few years.  Our development team was moving so quickly that sometimes it was easy to describe features that were in process as being already available.  The trouble was that whenever I ended up overcommitting on the product development front, I ended up creating unnecessary stress and anxiety as we rushed to live up to what was promised.  At the end of the day, any near-term benefits I gained from presenting my product as something it wasn’t ended up being outmatched by the stress that always accompanies “truthiness.”

The truth always comes out.

No matter how good your intentions may be or how innocent your deception seems, at the time, the truth always comes out.  I learned this firsthand when we launched an early partnership at BodeTree.  At the time, our distributions strategy was primarily focused on a single institutional partner.  Their team insisted that they had a network of clients and was ripe for third parties like ours could leverage.  We poured ourselves into trying to serve this market but never found the type of success we desired.  We agonized for months over our product, marketing, and strategy, desperate to figure out where we went wrong.  It was only after talking to other partners that we realized that the number of customers the partner served was much smaller than we believed.

It wasn’t that our partner’s assertions were completely wrong or that they were ill-intentioned.  It was just that they presented a version of reality that was based more on hope than facts.  Once the truth came out, we were able to revise our strategy accordingly and move forward.  Our relationship with the partner remained intact, but the level of trust was never quite same

Authenticity is more powerful than deception.

The most important virtue I can encourage in my team is authenticity. I’m always amazed at how understanding and forgiving people can be when you simply tell the truth and work hard to do what is right.  It isn’t always easy, but in the long run authenticity wins out over deception every time.  At BodeTree, we simply tell our story to prospective clients, partners, and investors.  We focus on the positive but never shy away from being forthright and earnest about our challenges and limitations.  This authenticity builds trust, and trust builds lasting partnerships.

That’s why I encourage my team and all of the entrepreneurs I advise to strive for honesty and authenticity in everything they do. The temptation to exaggerate or bend the truth can be strong, but it never pays off. In this world, a person’s word and reputation are all they truly have.  Once that reputation has been compromised, it can never be fully restored.

This article was written by Chris Myers from Forbes and was legally licensed through the NewsCred publisher network.


There is 1 comment

  • Sherrill A. Toran - 06/20/2015 19:11
    Great insight. I will utilize in my next interview and share with others.

Great ! Thanks for your subscription !

You will soon receive the first Content Loop Newsletter