At a recent event, the host wanted to make the point that businesses need to help solve the world’s problems. While there is nothing wrong with this message and in fact businesses that help their communities do tend to do better, the speaker used an example which ignored the facts in order to make her point.
The company used as an example was Bombas. The sock maker gives away a pair of socks to homeless shelters for every pair they sell. The speaker made the point that their charitable activities are the reason they are the most successful company to have appeared on the television show “Shark Tank.” The problem with this assertion is that it leaves out some facts. First of all, a Forbes investigation found that 73% of the companies on the show didn’t actually get the deal that they were shown to get. This makes the title of most successful company from Stark Tank a dubious claim at best. Since most of the companies shown didn’t actually get deals, the comparison is much less impressive than it sounds. Second, Bombas has a much higher marketing budget than other Shark Tank companies. It is much more likely that their success is a result of that than their charitable work.
By leaving out these facts, the speaker lost a lot of her credibility. When you make a presentation, you are relying on your credibility to make your point. When you lose that by not telling the whole story, your conclusions are immediately in doubt, even if they are valid. Tell the whole story and prove your point.
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