Just like in all forms of relationships and human interactions, trust is vital. In business, it is what translates to sales and helps build customer relationships. If you can get people to trust your business, you stand a chance of having it around for a long time. But how do you get to build long-lasting trust in your business? Read on to find out.
5 Tips for Building Trust in Business
In 2017, an Edelman research found that about 60% of people worldwide trust information about a company from friends and families. If the same information comes from the CEO of a company, they are least likely to trust it. Trust is a tricky thing, and people are more likely to trust those they have a personal relationship with.
So, as a business owner, how do you build trust with people? Let’s find out.
Show That You Trust Others
Trust, whether in business or online dating, is a two-way street. Often, business owners forget that the first people they have to earn their trust is their staff before the customers. While customers are important, a business is often only as strong as those who work for it.
Thus, as a business owner, you have to start by showing your staff that you trust them. You can achieve this by assigning them tasks that you would ordinarily handle yourself. Avoid jumping to conclusions about an employee’s competence, as doing so would make them wary of you.
What you need to do is give those who work for you the benefit of the doubt. Trust your employees until you have information that shows why you shouldn’t. When you do, your staff will improve their performance because they don’t want to abuse your trust.
Build Mutually Beneficial Relationships
Building trust is like building a house of cards. It takes time and a great deal of patience, but destroying it happens in a flash. This is why you must pay close attention to the kinds of trust relationships you build.
The world often operates in a give-and-take way. Someone gives, and another receives, making it imperative always to build mutually beneficial relationships. When people see what they stand to gain from your business and what you stand to get from them, they’ll be more inclined to trust you.
A good example of a mutually beneficial relationship is what a business has with customers. Customers understand that you need their patronage to stay in business, so they expect you to deliver quality goods and services that’ll keep them interested.
Address Issues Directly
When a company has a shady way of handling issues, no one will trust them. For this reason, whether it’s with customers or employees, you have to address complaints head-on. There will always be an aggrieved staff or customer, but how you resolve the issue is what determines if others will keep trusting you.
Interestingly, building trust using this method doesn’t always impact the person you have problems with directly. It affects those who are watching how things play out. The way you handle it sends a message of what you’ll do in a similar situation that might involve them.
Don’t dismiss issues in an offhand manner. People want to know that you care about what they have to say. So, address complaints quickly, and show how much you value the business they bring your way. Doing this will help build confidence in your company.
Respect Time and Opinions
Your staff and customers will not always agree with you. There will be times of disagreements, and listening to them would help you show that you trust your employees and customers. Conversely, it would also build their confidence in you.
You also have to respect the time of those who work for you and patronize you. To do this, return calls and emails promptly, arrive on time for meetings, and stick with schedules. Doing this will not only foster trust but mutual respect between all parties.
Never Overpromise and Under-deliver
When businesses overpromise and under-deliver, it becomes a huge trust killer. If you say you’ll pay your salary on the last day of the month, do so. If you promise to refund payments for returned goods after two working days, do it.
Businesses who promise the moon and fail to deliver it find themselves losing customers. When people can’t trust you to keep your word, they’ll go to the one they can rely on. Thus, it is better to underpromise and over-deliver and keep your client’s trust.
Don’t try to win people over with lofty promises because they’ll leave as fast as they came. Rather, be authentic in dealing with staff and customers, winning them over with your sincerity. Remember, being trusted is better than being loved, and generally, it’s what’s best for businesses.
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Autor: Karl Murphy
Karl Murphy is a professional journalist from Des Moines, Iowa. After obtaining his Master’s degree, he’s launched his career and over its course, Karl was contributing to the popular publications for men.
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.