ECONOMICS OF TRUST

As trust goes up, cost goes down and production goes up.  The converse is also true.

If you missed Part 1 or Part 2, click here for 1 or here for 2.

Our formula….rather Covey’s.

If you are trying to build a team of reps and they don’t trust you ………or what you are teaching ……….or you are trying to acquire customers and they don’t believe you …Ut-Oh….your cost goes up because you have to go find new people and cultivate new relationships. ¬†This costs time and money.

Traditional thinking :::>Strategy X Execution = Results

Covey’s brilliant shift

(Strategy x Execution) x Trust = Results

It is a myth that we have to ‘wait’ for trust to be earned. ¬†While we have to earn it, there are 13 things we can do to accelerate the Speed of Trust.

The faster folks, teammates, prospects, customers etc., trust us, the faster growth.

Covey breaks accelerating trust into 13 parts…..

  • 5 Character-based
  • 5 Competence-based
  • 3 Character & Competence Based.

Let’s look at the 5 Character-based ones.

IMPORTANT

These behaviors need to be authentic, not ‘counterfeit’ because ‘dogs know who to bark at’

CHARACTER BASED BEHAVIORS ACCELERATING TRUST

  1. Talk Straight.  Hidden agendas, spin and pseudo flattery are counterfeit behaviors. So is manipulation and distorting facts.  Declare why you are speaking to someone by honestly telling them the agenda, your agenda, right up front and stick to your word
  2. Demonstrate Respect. Showing respect to advance your agenda is counterfiet….and no matter how slick you think you are, it won’t work. ¬†Showing respect or concern for only those who can help you is not respect. ¬†Behavior that is fair, kind, civil and laced with love for all people defines respect. ¬†As Napoleon Hill points out and suggests we repeat daily, “I eliminate hatred, envy, jealousy, selfishness and cynicism by developing love for all humanity because I know ¬†negative attitude towards other can never bring me success.”
  3. Create Transparency. ¬†Tell the truth in a way that anyone can verify. ¬†The counterfeit behavior is omission, hidden agendas or pretending things are different than they really are…..exaggerating numbers to make a sale, etc. ¬†Over disclose, be open and authentic to the point of treating them they way you like to be treated when making a decision.
  4. Correct Wrongs.  We all make mistakes, apologizing is not enough.  Do something extra and make restitution and demonstrate humility.
  5. Show Loyalty. ¬†Give credit loudly and speak about people who are not present only in a complimentary way. ¬†Don’t pretend to take give credit but then take a bow. ¬†Gossip is a no-no but more importantly let people know who may begin to talk about others that you simply do not do that. ¬†Take 100% responsibility for things that go wrong and give credit to others when things go right.

THE BOTTOM LINE

This is the beginning of Relationship Trust and coupled with the Four Core values in yesterday’s blog you begin to lay the foundation for accelerating trust.

The value of this is priceless especially if you are building a networking team.

WHY?

Only 29% of employees BELIEVE that management cares about them developing their skills so they can advance.  That means 71% do not trust management.

Wait, it gets worse. ¬†Only 42 % believe the their employer cares about them at all….or 58% do not trust the company.

We are rarely, if ever, going to meet the ones who believe the company cares about them and believe management is helping them. We don’t get the ones who are happy and trust the company…..we get the ones who don’t trust the company.

DON’T DENY IT, DEAL

Covey calls this the ‘hidden low-trust-tax.’ ¬†Meaning, we are interacting with people who don’t trust management ……and as soon as we show ANY sign that smells of similar behavior, we’ve lost them, they won’t take our coaching and we are dead in the water.

On the other hand, simply by accelerating trust, they take coaching, profit and grow as a result of trust us.

It might not ‘look’ like it but trust me :), the hidden low trust tax is real and those that deal with it build bigger teams faster.

believe

mark januszewski

world’s laziest networker

About the Author

  • This is such an eye opener for me. I didn’t realize how important this is to learn. I have had issues with trust since being a teenager! Usually it takes me years to get to know someone before I trust them. I have scars that have cut through my heart because of past experiences. This is going to make all the difference to me. and my team. I am reading the book today. Thank you Mark.

  • Wow Mark !
    What a Powerful Article,
    I am a True Man of Integrity, but I’ll tell
    you what gaining people’s Trust is not as easy as I thought. You really do have to know what you are doing when it comes to building Trust.

    Thank You For This Million Dollar Advice,

    Your Friend,

    Steven Squillace

  • I always have known the importance of trust but now I have some key traits to move toward accelerating trust. I can’t wait for the next segment to learn more. Thanks!

  • Mark, I like how you say “talk straight”. Too many times we think that beating around the bush is going to soften our approach when in reality “beating around the bush” just causes people to not trust us. Thanks!

  • Hi Mark,
    Another Home-Run! This series is terrific, you could do a course just on this.
    Can’t wait to see what other “rabbits out of hat” you’ll do, I’m sure they will be good!
    Thanks,
    Dan Myers

  • Thanks for stopping by Debbie

    Trust is the accelerator and you understanding your own challenges is the FIRST and BIGGEST step in team building

    your honesty is stunning

  • Thank you Dan…..

    Rabbits? ūüôā

    Yup, a few more.

    Really interesting word, Rabbits…..do you have inside information about the week 4 call?

    believe
    mark j

  • Mark, you hit it right on the nail head with the trust issue. Whenever I talk to a new prospect I always want to get there trust in me up front. Tell them the truth about your company and products. It makes for better teammates later down the road.

  • More great material. Learned these in the 50’s in the Military and these 5 Traits and 4 Core Values is what builds a solid foundation for any business, or life in general. Again, Thank you Mark & Davene. Bill W.

  • Fantastic post, Mark.

    Thanks for the reminder to re-visit some of Covey’s works – and thanks for the refresher on trust factors.

    The world needs people it can truly believe in. If we are true to ourselves we will be true to others and this is where all true joy and fulfillment is derived.

    Peace & dominion, brother.

    James

  • TRUST- Anyone who has a background in the military and/or Law Enforcement learns “first hand” what trust is really all about. When your life is dependent on someone else to “watch your back” and is willing to put their own lives in harms-way to save yours, you learn the pure, true meaning of trust. Trust leads to caring, camaraderie and love.

    In a less than dramatic sense, when we sponsor someone into our networking business, I truly believe that we have a moral responsibility to help that person develop and realize their Definite Major Purpose in life. By joining our team, that person is placing all of their trust in us to help them achieve all of their dreams. If trust hasn’t been established at the very beginning, it will all be a waste of time.

  • This is a very impressive blog. We have genuine trust within our team and I feel that we demonstrate that trust to our prospects as we communicate with them.

  • ‘Character based behaviors accelerate trust’…I couldn’t agree more. I always love the concept in network marketing of edifying, building someone up. I think it is brilliant to offer acknowledgement and celebrate other’s successes. The catch as Mark refers to in his blog is in being genuine and real. Looking someone in the eyes, truly connecting to what it is they are talking about. In Steve Shapiro’s book…Listening for Success, he refers to listening as the best gift you can give someone. To be heard…truly respected and genuinely listened to. Another mentor of mine always refers to giving ‘a genuine compliment’. I believe this is something that is truly lacking in our society…the ability/skillset to offer a genuine compliment. How does one acquire such skill? I believe it comes from the work we are doing here in Master Keys. Sit. Quiet the mind. Really connect to your inner being. The growth, the serenity and the joy that comes from this practice will open you up to be genuine with others. Take a moment to look in someone’s eyes, listen to what they have to say, and see what comes up for you. I’m sure you will feel the genuine compliment come from within you. Thanks for this reminder, Mark. So true!

  • {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

    Learn How to Be a Better Network Marketer... Start Now!

    >