Recently, I caught up with one of our angel investors for lunch: Peter. “The secret to success in business and in life is to never, ever, ever tell a lie,” he said.
A study by the University of Massachusetts found that 60 percent of adults could not have a 10-minute conversation without lying at least once.
Peter has invested in hundreds of businesses. Every time he sees a pitch, he waits until the end of the presentation before asking the entrepreneurs to go back through the deck and point out every lie they have just told.
Peter maintains that telling lies is the No. 1 reason entrepreneurs fail. Not because telling lies makes you a bad person but because the act of lying plucks you from the present, preventing you from facing what is really going on in your world. Every time you overreport a metric, underreport a cost, are less than honest with a client or a member of your team, you create a false reality and you start living in it.
(Thanks Yigal Grayeff for the tip.)