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Table of Contents

Lead Story

Payment fraud, rising to the challenge

Patti Murphy
The Takoma Group

News

Industry Update

Did hackers gain insight into RSA's methodology?

Comodo compromise draws swift response

PCI SSC dials up call center compliance

Fifth Third seeks innovation through open platform

Trade Association News

Features

Do Tell

Innovations in check scanners

David Peterson
RemoteDepositCapture.com

ISOMetrics:
B2B payment fraud

Integrating your marketing efforts

Selling Prepaid

Prepaid in brief

Momentum builds for maritime cards

Providing prepaid self-serve for global markets

Views

PII and merchant portfolio acquisition

Daniel Federgreen
Analyst

Social redemption at the POS

Paul Rasori
VeriFone Inc.

Education

Street SmartsSM:
Straight talk on professional certification

Bill Pirtle
MPCT Publishing Co.

Leads, leads, leads - Part 3: Lead nurturing

Peggy Bekavac Olson
Strategic Marketing

Coach your way to a stronger organization

Vicki M. Daughdrill
Small Business Resources LLC

Projecting confidence, inspiring trust

Jeff Fortney
Clearant LLC

How to reboot a stalled PCI program

Tim Cranny
Panoptic Security Inc.

A brief on prospecting

Jeffrey Shavitz
Charge Card Systems Inc.

Company Profile

Merchant Implementation Services

New Products

A CRM solution for MLSs

Powerhouse Sales Agent CRM
Powerhouse Payments LLC

Inspiration

Stick with the truth

Departments

10 Years ago in
The Green Sheet

Forum

Resource Guide

Datebook

Miscellaneous

2011 Calendar of events

A Bigger Thing

The Green Sheet Online Edition

April 11, 2011  •  Issue 11:04:01

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Inspiration

Stick with the truth

Honesty is the first chapter in the book of wisdom.
- Thomas Jefferson

The Honest Woodcutter, one of Aesop's fables, tells the story of how a woodsman is richly rewarded for telling the truth to a friendly water spirit. You might recall the tale from your childhood. Here's how it goes: a woodsman accidentally drops his ax into a deep pond. The man is deeply distressed because he depends on the ax for his livelihood.

A water spirit appears, learns of the man's plight, dives into the water and emerges with first, an ax made of silver and, subsequently, one of gold. He inquires whether each, in turn, belongs to the woodsman.

The man claims neither. The spirit dives back into the pond and emerges with the plain wooden ax the woodsman had lost. The man affirms the plain ax is indeed his implement.

The spirit not only returns his ax, but also gives him the golden and silver axes in appreciation of his truth-telling.

Truth telling as a factor in success

A single act of truth-telling doesn't qualify you as an honest person, of course.

Integrity must underlie every interaction you undertake. And honesty practiced consistently over time cultivates trust, an important ingredient in successful relationships, whether personal or professional.

In business, long-lasting relationships translate into enhanced profitability, a truism not lost on savvy merchant level salespeople (MLSs).

A few "bad apples" who don't practice the "honesty is the best policy" approach to business have created negative stereotypes that upstanding MLSs, who are in the majority, must overcome. But this is not a truly significant obstacle for MLSs who act honorably; it is only a career killer for the ones who offer false promises in an effort to make quick deals. Another part to the woodcutter's story illustrates this point:

On the way home, the woodcutter meets another woodsman to whom he tells his tale of good fortune. After hearing the story, the second woodsman, coveting the axes of silver and gold, runs to the pond and drops his ax into its depths.

When the spirit appears with a silver ax, the less-than-honest woodsman quickly claims it as his own.

How does the story end? The spirit disappears, and the second woodsman's own ax remains at the bottom of the pond.

Operating from altruism

Was the first woodsman in the fable honest? Given that he told the truth simply because it was the right thing to do, not because he anticipated some type of personal gain for his candor, he probably was an honest person. His motivation stemmed from a set of principles.

In the end, when it comes to your career, it's not how many deals you've done, but how many you've done the right way.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems