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.
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- Scalia, a famous conservative, was invited to circles that were not his "home territory", such as the ACLU, to debate his views. Here, Strossen expresses her gratitude and respect for his commitment to the exchange of ideas.
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- The opinions expressed in this video do not necessarily reflect the views of the Charles Koch Foundation, which encourages the expression of diverse viewpoints within a culture of civil discourse and mutual respect.
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