The Truth Will Set You Free
Everyone searches for the truth. The idea of truth and honesty can oftentimes be sabotaged in business and entertainment, yet truth is something a brand, business, and artist should always care about within their organization or craft. If customers don’t feel like they’ve gotten the truth, their reviews can tank businesses both big and small.
Last week, Silicon Valley startup Juicero made headlines after offering all their customers who bought their more than expensive $400 wi-fi juicer a refund. The reason? You don’t actually need the juicer to squeeze the pre-made bags they come in. Customers realized they could juice their drinks just by squeezing the pack by hand, making the actual juicer completely unnecessary. Juicero raised $120 million dollars for this endeavor and now, no one is happy.
The lack of honesty and full disclosure of business has plagued and even destroyed companies like Theranos, Zenefits, Lilly, Magic Leap and Clinkle. Some of these companies secured multi-millions of dollars with little more than a product video, and while some have created actual prototypes, these technologies feel so infant and so far from the intended final product we might ask if these founders may have been lying to themselves.
We’re in an environment where investment in startups are a lot more harderthan they used to be and there are so many variables that could equal a successful company. One thing for sure, is that customers have all the power, especially with today’s internet landscape. The idea of “fake it, till you make it” ends with your customers who really expose the truth. Juicero biffed, but the real learning should be reflective of everyone else’s projects and endeavors. You have to be honest with your customers and the things you’re creating. No one said it was easy, but just ask yourself at every path you take, if you’re being honest.