"If people like you, they'll listen to you, but if they trust you, they'll do business with you."
--- Zig Ziglar
Trust is a big factor in whether a business will succeed or fail. Without trust, in employees, vendors, competitors, customers, and even the community, a business will flounder and find it difficult to truly succeed. And the flip side is just as, or even more important: do people trust you? Can they believe you will stand behind your products and service? Will your employees and vendors trust that you will carry through with what you promise?
It becomes tough plowing if you haven't built your business on strong trust from everyone around you. In today's world, particularly if you listen to the news regarding politics, the entertainment industry and even business, trust seems to be a bygone trait. But thankfully, there are still business leaders who believe that their word is their bond and that once spoken, people can bank on things being carried through to the end.
"Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands."
--- Peter Drucker
If your image, or brand is such that people can count on everything you offer being of top-rated quality, you are a winner. I have an acquaintance that with just the mention of his name puts people at ease because they know they can trust him. If he says it is so, then you can practically bet your life on it. Unfortunately, I know of another person that when her name is brought up, tensions rise and you can see people looking at their shoes trying to move on to another subject. She has damaged her trustworthiness in this business segment.
"You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life."
--- Steve Jobs
Building trust is not an immediate action. It is something that takes years to develop, but only one moment to knock down all that has been established. That is why it is so important to keep promises and work with integrity- not just integrity in some things, but in all things. If a customer is right, (and they are not always right), tell them so and do all that is in your power to make them satisfied. Like a wildfire, word will spread that you are a person who can be trusted to do business with.
The same holds true with your employees. If they are performing and succeeding in propelling your business along, treat them in kind. Be honest about how much you can reward them and share your profits with them. Again, word will spread and you will attract qualified candidates to work in your business.
"Few things can help an individual more than to place responsibility on him, and to let him know that you trust him."
--- Booker T. Washington
Finally, always give everyone the benefit of the doubt. Put faith in your team members and they will respond with loyalty. Trust your vendors and they will trust you. Show your competitors you trust their integrity and they will treat you the same.