Trust Will Shape Your Company’s Future

In a world filled with uncertainty, you have to ask what you are certain about. The number one thing I’m certain about is that the future is all about relationships. If you want a positive future, then you need to have positive relationships with your employees and customers. And if you want positive relationships, you have to focus on the glue that holds a positive relationship together. What is that glue? It’s trust, which you earn through your values, such as honesty, integrity, delivering on promises, and so on.

Whenever you don’t consider trust when you take an action, you undermine the trust you have and can turn a positive relationship into a negative one. In the world of business, that means you lose your customers.

Unfortunately, I see many companies following the model of the airlines, where they charge additional fees for things that used to be included, such as baggage fees, food fees, pillow and blanket fees, etc. Does this foster trust and loyalty? You don’t have to be a rocket scientist to know the answer to that one.

So how do you win? Well, you don’t do it by following a losing model. Here’s a better approach: Before you implement any new product, service, or change in policy or procedure, ask yourself, “Where is trust, currently, between our company and our customers?” Then ask yourself, “If we implement this change in this way, what happens to trust?” If the answer is, “Trust will go down,” then don’t do it in that way.

Notice the words I used. I didn’t say “don’t do it.” I said, “Don’t do it in that way.” The insight is: It’s not what you do; it’s how you do it. It’s not what you say; it’s how you say it. It’s not what you implement; it’s how you implement it.

So the next question is: “How could we change how we say it, do it, implement it, or charge for it so that people would maintain trust?”

Too many times, companies just assume trust. Since it’s assumed, they don’t think about it. As a result, they implement things based on the bottom line figures without realizing their actions could be undermining trust and ultimately bankrupting the company.

So the real bottom line is this: Instead of acting out of profitability, let’s think first about growth, relationships, and trust. When you put trust first, the bottom line usually takes care of itself.

Copyright ©2014 Burrus Research, Inc. All Rights Reserved.

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DANIEL BURRUS is considered one of the world’s leading technology forecasters and innovation experts, and is the founder and CEO of Burrus Research, a research and consulting firm that monitors global advancements in technology driven trends to help clients understand how technological, social and business forces are converging to create enormous untapped opportunities. He is the author of six books including The New York Times best seller Flash Foresight.

Souvan RoyChowdhury

Sr. Account Manager at SPG Infotech

9y

✔ No IDK ✔ No Spam ✔endorsements reciprocated ✔►►► SEND INVITE via my PROFILE where my email are available

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Doreen Scott-Dunne

Retired Principal from Peel District School Board, currently writer/consultant

9y

i fully agree.

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William Stein

Master's Candidate at Columbia Climate School | Ex-Google, WeaveGrid, Carbon Lighthouse

9y

Trust is the most critical element for firm success, yet employers often fail to see the importance of it. Trust goes both ways, too. Employees must trust one another, which in turn helps foster trust with clients. In order to create a truly trusting company culture, which often creates a successful company, sharing is essential. The best way to do this is to share networks and connections with your fellow employees, especially from the top down. When subordinates trust their leaders, it becomes contagious throughout the firm. http://bit.ly/1nyRaG3

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Osilama Emmanuel Osilama ANIVS RSV CFPM FCAI MBA

Group Chairman/Ceo at nuel osilama global,Wire24 & Getshelters.com

9y

This so true but the world is turning into a global village and trust is becoming very difficult to earn.My company is succeeding in a very complex and insecure market simply by trust. Trust is truly a major key to stay on

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Lyndall Lourens

UCU Chairman of the Board

9y

I thank you for this piece. I would take the liberty to put it to work. Slds

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