Michael Toebe in Directors and Executives, Healthcare, Entrepreneurs ------------- Reputation and Crisis Solutions ----------- • Michael Toebe Jun 17, 2019 · 1 min read · 1.1K

Undervaluing trust costs you business

Undervaluing trust costs you business

“We must not forget that the basis of business, what makes business possible, is trust.”

Capt. “Sully” Sullenberger

True, right? Common sense too? Or is it?

How many companies, big and small business, or organizations strike out on this fact rooted in evidence?

You can’t assume trust or dismiss it as anything less than a core, foundation piece of everything you say and do, if you care about quality reputation, relationship building, strong relationships and all the rewards that come with it.

Trust is capital, it’s currency, a catalyst for success, now and long term, as it creates receptiveness to listening to and hearing your business messages, being influenced and persuaded to do business with you, to continue to do business with you and increase the likelihood of forgiveness when you fall somewhat short of expectations.

If you have built up significant trust, you can often weather the storms of disappointment, conflict and maybe even crisis with your buyers and prospects.

Yet so many companies and individuals play loose with trust, paying it not much more than lip service and their actions simply, clearly are not in alignment with their words, promises or inferred promises and reasonable client, customer or patient expectations.

Questions to ask:

What can you do to increase trust, each day?

What can you stop doing to increase trust, each day?

What adjustments can be made to inspire stronger trust, easier forgiveness for mistakes or prospects, clients or customers not feeling highly valued?

The competitive advantage is there for those who are willing to make it a core value.

Trust is critical and invaluable in relationships, business and personal and some companies and individuals succeed greatly at building and maintaining it.

Many others are skilled at building it yet struggle with maintaining it or are weak or untrustworthy at maintaining it.

Once trust erodes or you show untrustworthy by your actions or response to them, you forfeit opportunity and benefits. Some companies and individuals don’t care yet that is their choice, their loss of reputation and benefits.

When we regularly examine our trust character, we see what we can do better, as in what we can and should do, what we can and should stop doing. Then we move towards those improvements.

That’s trust intelligence, trust character. Everything we do or don’t do communicates something to people. Are you communicating in a way that people trust you, or not?

Trust is influence, persuasion, opportunity, money, peace and happiness.

Want more benefits?

Work to become more ethically, morally trustworthy and be consistent about it. Promptly, with character and empathy, repair trust breaches. It benefits you greatly, more than them.

Michael Toebe is a communications solutions leadership practice leader for reputation, crisis and risk for companies and individuals.

He has written for and contributed to Chief Executive, Corporate Board Member and the New York Law Journal. You can also find him on LinkedIn, Twitter, Instagram and a short-segment podcast Communications Solutions Leadership.