In order to build anything substantial. We just need one thing. It might be a great relationship, a great customer community or a great business, this thing is vital. Building, retaining and winning back trust. That is the key to many issues. That is the solution to many problems. All things which are valuable has a process to build it, and how to build the process of trust, is beautifully explained in the book called “Trust Edge” written by David Horsager. According to him there are 8 pillars that helps you to build high trust with any one.
I shall be explaining my perspective in this blog about that book, in the context of business. These 8 pillars according to me when followed sequentially gives a lot of benefit in building a great sustainable business. Here are the 8 pillars
- Character with Integrity.
- Concentrating on giving Results
Let us explore all the 8 C’s of building the process of trust.
This one thing is the most essential in running a successful business and building a trust. If we know what we are doing as a business and running it transparently then we build an enormous trust with the clientele. This clarity is everywhere, from understanding the clientele’s problem and communicating our solution to that problem, and to deliver the promise as made to them and reporting that to them, propagating the same to a larger audience, these are the best way to build a trust about one’s brand. Clarity brings Success. But what is clarity? Clarity is a process where you ask these three questions, again and again in a loop. Those questions are WHAT? WHY? HOW? The starting point of this in a business point of view is What is the current problem that the customer group is facing? Why is that problem being unsolved? How can we solve them? In this case the Business is thinking and speaking about the customers, hence the customers start trusting the brand. So Clarity is the first step to build the trust and gain respect.
The definition of compassion is simple. The feeling of expecting more for others than the self. So with the clarity of the customer’s problem, when we are compassionate with the customers or the end users of our product/service, we attract more people towards our business. When more people are coming towards our business, there is only one reason for it, that is TRUST. When more people see that people are coming towards us it accelerates the TRUST, snowballing our business into a huge success.
Character with Integrity
This one is a must if you want to build a loyal group of customers to your brand. People often look at who is selling more close than what is being sold. I can give you an example from the book “Bigger than this” written by Fabian GeyrHalter. HE says there is shoe showroom, in fact a chain of showrooms in Austria and Germany with the name of GEA. They are a high selling shoes, not because of innovation. They are very basic handmade; most comfortable shoes you can get. The sales is due to the political stand the owner of the concern, Mr. Heini Staudinger has taken. He is an extreme left and he is pretty vocal against the government. He even runs a paper and has a publication in the same name. Because of this he will not get any funding either from bank or from the government. He propagated this to people and People supported him as they trusted his character which had a great integrity. Today they make 17 Million USD every year selling shoes in more than 23 showrooms across Austria and Germany.
This is a very key word in Entrepreneurship. If you want to succeed in business you need to have a competency. The same will help you gain trust among your customers. A business is all about solving a major problem to a group of people who are willing to pay for the solution. So if we can showcase a competence, that we can indeed solve the problem, either better than others or cheaper than others, what it does is, it builds trust with our clients, then that gets converted into business. We saw an example of GEA above, and if they don’t make good handmade, comfortable shoes, irrespective of the character of the founder, it wouldn’t have grown this much.
With all the above said C’s if we can show to our customers that we are committed to a cause, then we would gather more trust and in turn they become our loyal followers or customers. Commitment Is the area where we can display our Clarity, Compassion, Character, Competence to make the life better of people or a group of people than the current scenario. This show of commitment builds immense trust among our customers for us as we are staying on course even on the time of adversity. The show of commitment is the key element in any sustaining business. That business was sustaining just because it was able to win over the trust of the customers by the commitment they showed.
There is a high possibility when you have all the C’s mentioned above you gain immense success. You make a lot of name and money. That is good, but the down side of it is you might lose the connection with the people or the problem, which made them the success in the first place. So maintaining the connection with the cause and the people will increase the trust that people have upon us. Making good Connections and maintaining the old connections are always good for business.
Concentrating on results:
All the efforts which we put should distill into results. Although people admire tireless, hustlers they actually trust more who can deliver results. The Competence factor plays a serious role here. If people see you as a person who deliver results, they trust you no matter what. All the actions, attitude and thinking should be aligned towards getting results. This is one way to gain the trust of the customers straight.
This is the magic word that turns trust into loyalty. It is important to deliver results, but it is more important to deliver them consistently. If we manage to do that then the trust becomes loyalty, our customers become our marketing executives and the market becomes ours. Trying to use Clarity, Compassion, Competence with integrity in Character and staying committed and connected will surely bring results. The key thing is to be consistent with it and build a legacy. That is when our Business becomes Brand.