How to Build Trust Fast. Trust runs every small business relationship. One simple formula, the trust equation, shows small business owners how to earn it faster without faking it.
Show Notes Page: https://www.thehowofbusiness.com/620-the-trust-factor/
On this short episode Henry Lopez shares his thoughts and experiences related to why trust matters so much in business relationships, and one variable or technique that can have significant positive impact on how quickly people trust you.
People don't buy from, partner with, or make deals with people they don't trust. That's often true even when you have the better product or the better price.
Most small businesses don't have a big brand name doing the work for them. The owner or a key employee is the face of the business, and word of mouth and referrals, the lifeblood of new opportunities, depend on trust. The challenge is that trust takes time to build. You often get only one sales call, one first meeting, or one negotiation to start.
In this episode of The How of Business, Henry Lopez explains the trust equation from The Trusted Advisor by David Maister, Charles Green, and Robert Galford. Henry taught this book throughout his sales training and enablement career. He also covers the one variable in the equation that can speed up trust more than any other.
The formula is simple. Trustworthiness equals credibility plus reliability plus intimacy, divided by self-orientation. Credibility asks, "Can I believe what you say?" Reliability asks, "Can I count on you to do what you say?" Intimacy asks, "Do I feel safe sharing my real problem, budget, and concerns with you?" Self-orientation asks, "Whose interests are you really focused on?"
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com