In my 20 years of business ownership, I've come to believe integrity is the most important quality a small business owner can develop in themselves.

One of the primary functions of a business is to make a profit. But profit cannot be the lodestar, you need a mission. And sticking to that mission even when it conflicts with profit, that is integrity. Integrity is sacrifice. This is important for a couple reasons.

1) Integrity prevents a slide down a slippery slope to doing anything to make a buck.

Integrity is a form of discipline. By operating under a umbrella of fundamental ethics, you keep yourself from going off the rails. You prevent yourself from downward spiraling choices. If the pursuit of profit is the sole purpose of your business, you can easily become someone your younger self would be ashamed of. You sacrifice profit for improved self worth.

2) Integrity prevents decision fatigue.

There are many ways to profit. The paradox of choice is the principle that after a certain point having more choices is detrimental. Having integrity limits your decision space. It's actually easier to run a company if you can simply say, "No, I won't do that, it doesn't mesh with our mission." You sacrifice potential profit for an easier mental load.

There are a few other thoughts about integrity.

Integrity does not require a degree, credential, or any other external validation.

Integrity demands you do the hard thing when it is the right thing.

Integrity means no worrying about losing the advantage to a competitor who acts unethically.

Integrity means you sleep well at night.