The Importance Of Trust In Business

Sunday - 21/10/2018 17:56
It’s hard to quantify exactly how important trust is for a business. For business owners, a lack of trust is your biggest expense. It may take years for a manager or an executive to develop the trust of his or her employees, but only moments to lose.
The Importance Of Trust In Business
Without trust, transactions cannot occur, influence is destroyed, leaders can lose teams and salespeople can lose sales. The list goes on. Trust and relationships, much more than money, are the currency of business.

Trust is the natural result of thousands of tiny actions, words, thoughts, and intentions. Trust does not happen all at once; gaining trust takes work.

It might take years of calling on a certain client to break through and fully gain their comfort and trust. Yet in spite of the importance of trust in the business world today, few leaders have given it the focus and nurturing it deserves.

Leaders how to build the Eight Pillars of Trust:

    - Clarity – People trust the clear and mistrust the ambiguous
    - Compassion – People put faith in those who care beyond themselves
    - Character – People notice those who do what is right over what is easy
    - Competency – People have confidence in those who stay fresh, relevant, and capable
    - Commitment – People believe in those who stand through adversity
    - Connection – People want to follow, buy from, and be around friends
    - Contribution – People immediately respond to results
    - Consistency – People love to see the little things done consistently

It is crucial to understand that trust is fundamental to the genuine success of any kind. The trust you have with your team and colleagues, the trust you place in your vendors to make deliveries correct and on-time, and the trust that you work to earn from your clients.

And it’s worth the work. Genuine trust yields decreased stress, solid friendships and a lasting legacy

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