The retail mattress world is a bit different from most other retailing operations. It provides the consumer with a commodity we cannot survive without. We cannot live without sleep. Experiments have been done on sleep deprivation and some of them revealed that mice begin to die after three days without sleep. Sleep deprivation has become a pandemic in today’s world. More and more fatal accidents are occurring daily due to the lack of sleep. Because the retail mattress world promotes a product line where one item looks similar to its neighbors, because the names are different from one place to another, because the specifications are often hidden, because the prices are often negotiable, and because used mattresses are available everywhere, the consumer demands and rightly expects his retailer to operate with the highest degree of integrity. The consumer has almost no idea on how to shop for sleep. Since integrity is a major contributor to success in the business world, I found a great article called “The 7 Principles of Business Integrity” written by Robert Moment. I was given permission to reprint his article below. After the article I will relate it to the retail mattress world, to the consumer, and to his ultimate quest for a “good night’s rest.”
The 7 Principles of Business Integrity
If you have integrity, nothing else matters. If you don’t have integrity, nothing else matters. — Alan K. Simpson
If I were to ask you what attribute is the most influential in regard to the success of a business, would you know
immediately which one is the most important? Based on my many years as a business owner and entrepreneur, I have
discovered that at the very top of the list is the distinguishing quality of integrity. Without integrity at the helm of a company, a business is usually short-lived. In fact, when business integrity is present throughout the deepest layers of a company and not just at its surface, it becomes the heart and soul of the company’s culture and can mean the difference between a company that succeeds and a company that falters.
The Internet’s Immeasurable Impact on the Marketplace!
The importance of integrity has always existed among the business community, but in recent times has been shown as
falling short. It is the Internet’s immeasurable impact on the global marketplace that is now making the expression of
integrity, reliability and credibility extremely important. Furthermore, the consequence of global competition means
that customers will simply not consider a company that shows any less than the highest level of integrity. Since there is a wealth of competitive companies easily available and accessible via the Internet, there is in fact no need to accept anything less than the best.
Where Does Integrity Start?
In an effort to build upon a foundation of integrity, the first requirement would be to establish excellent rapport
with clients. Based on many years of study, the best and most practiced method for achieving rapport is by way of
Relationship Marketing. Just as it sounds, Relationship Marketing is founded on the single and most critical
characteristic, known as “Integrity.” However, achieving true integrity with clients often leaves many an
entrepreneur bewildered, grasping for techniques and strategies that guarantee their futures. But integrity is
not something that can be grasped and then simply used. Integrity in its essence must be so ingrained within the
nature of an individual, its company and the team members, that it remains steadfast no matter what. Without question,
others sense it and find it very attractive.
The True Nature of Integrity!
Now you are probably asking yourself, what is the true nature of integrity? There are in fact some very basic
principles that surround the qualities of business integrity. At its core, integrity begins with a company leader who understands the qualities of integrity which then filters down throughout the company into every department
and every member’s approach and attitude.
In recent research performed by the Institute of Business Ethics- an organization which is among the world’s leaders
in promoting corporate ethical best practices, it was found that companies displaying a “clear commitment to ethical
conduct” almost invariably outperform companies that do not display ethical conduct. The Director of the Institute of
Business Ethics, Philippa Foster Black, stated: “Not only is ethical behavior in the business world the right and
principled thing to do, but it has been proven that ethical behavior pays off in financial returns.” These findings
deserve to be considered as an important tool for companies striving for long-term prospects and growth.
The following 7 Principles of Business Integrity are the basics of integrity and a good starting off place to
consider. By integrating each of these principles within a company environment, the result will be nothing short of a
major rebirth of the enterprise.
Principle #1: Recognize that customers/clients want to do business with a company they can trust; when trust is at the core
of a company, it is easy to recognize. Trust defined is assured reliance on the character, ability, strength, or
truth of a business.
Principle #2: For continuous improvement of a company, the leader of an organization must be willing to open up to ideas
for betterment. Ask for opinions and feedback from both customers and team members and your company
will continue to grow.
Principle #3: Regardless of the circumstances, do everything in your power to gain the trust of past customer’s and clients,
particularly if something has gone awry. Do what you can to reclaim any lost business by honoring all
commitments and obligations.
Principle #4: Re-evaluate all print materials including small business advertising, brochures and other business documents
making sure they are clear, precise and professional; most important make sure they do not misrepresent or
misinterpret.
Principle #5: Remain involved in community-related issues and activities thereby demonstrating that your business is a
responsible community contributor. In other words, stay involved.
Principle #6: Take a hands-on approach in regard to accounting and record keeping, not only as a means of gaining a better
feel for the progress of your company, but as a resource for any “questionable ” activities; gaining control of
accounting and record keeping allows you to end any dubious activities promptly.
Principle #7: Treat others with the utmost of respect. Regardless of differences, positions, titles, ages, or other types of
distinctions, always treat others with professional respect and courtesy.
While it is most certainly an integral and positive step for a small business to recognize the significance of integrity
as a tool for achieving its desired outcomes, that is only the beginning. What must truly be recognized for true
success is that while certain precise universal principles lead to business integrity, it is in the overall mindset of
the company and the unfailing implementation of these key elements that an enterprise is truly defined. A small
business that instills a deep-seated theme of integrity within its strategies and policies will not only be evident
among customers, associates and partners, but its overall influence cannot help but to result in a profitable,
successful company. By recognizing the value of integrity, and following each of the aforementioned 7 principles for
achieving integrity, your success cannot be far off.
“Without integrity at the helm of a company, a business is usually short-lived.” I have seen many retail mattress operations fail during my career. Certainly a lot more have lost valuable ground through a high rate of employee turnover, word of mouth negative experiences, and a general loss of trust in the consumer’s eye. Some of these are due to a lack of integrity from the top management on down and some are due to inadequately supervised and overtly dishonest sales staff. The retail mattress trade seems to be plagued by both, but thankfully, the larger more successful retailers have become large because of their integrity. The smaller retailers popping up in every other strip center become the victims of their own lack of integrity. They are usually out of business within one to five years and that is a good thing, but many consumers are left holding an expensive (relative to their budget) piece of junk that affects their entire quality of life. They may not be able to afford a replacement for another few years. Their sleep deprivation problem grows each and every night. That debt cannot be repaid.
Some suggestions to improve your retail mattress image, your integrity, and therefore your success:
Trust starts at the top. Training needs to emphasize the need for honesty and openness. It begins at the top, so upper level management has to walk the walk and not just talk. Ask for feedback and act on it.
Accounting and record-keeping must be detailed and constantly on the lookout for red flags. Clear and straightforward pay statements for sales staff. Don’t make it difficult for them to track their earnings in confusing blind alley tracking. Watch for employees selling too many “used” products at unseemly high prices. Are they properly “disclosing?” Timely bill paying and responsible vendor relationships matter.
Over-promising and under-delivering will lead to bad word of mouth. Do not promise what you cannot deliver just to get the sale today. The consumer, once decided on a new mattress set, wants and needs it as quickly as he can get it.
If you are selling “used” mattresses, be sure that your sales staff is disclosing properly: “the truth, the whole truth, and nothing but the truth.” A comfort exchanged mattress is not the same as a “floor sample.” A manufacturer’s second is not a “used” mattress. A warranty defect is not a comfort exchanged mattress. A missing law label does mean a loss of warranty. A floor sample does not have a manufacturer’s warranty.
Brochures and signage need to reflect your policies. If you don’t do refunds, post it clearly at the sales counter. If you do comfort exchanges, fully explain the details, including the costs of the exchange. What are the other stipulations? Do they have to buy your mattress protector, and why?
Make it easy for consumers to contact you. Provide a legitimate headquarters mailing address, phone number, email, and website contacts. Don’t insist on contact through sales staff or website.
These suggestions will be insulting to some of the reputable retailers out there, and to those I might only suggest taking a second look at yourself from top to bottom through an independent shopping service. To the little guys out there trying to make the quick buck, I know you already laugh me off and probably heard the word “integrity” and closed the page. To the novice consumer, you are probably amazed that these practices exist in the marketplace today. To the disappointed victims of the unethical retailers out there, I would encourage you to spread the word about your negative experiences.
Thanks for listening, and thanks to Robert Moment for his fine article.
Copyright 2010. All rights reserved to Ronald Czarnecki.