Wednesday, January 20, 2010

The Importance of Trust in a Business Relationship

By Charles Moffat - January 2010.

When meeting your clients you need to convey a sense of professionalism and trust. You certainly don't want to come across as a "untrustworthy scumbag with a big sales pitch".

The most important aspect in any relationship is trust. If you can't trust your business partner you're probably not going to do business with them. Thus its important that if you're going to be successful (and not end up in prison like Bernie Madoff) you want to keep your business honest and on the proverbial up-and-up.

15 Ways to Build Trust

#1. Keep Your Promises & Contracts.
#2. Never Tell Lies or Stretch the Truth.
#3. Keep Confidences.
#4. Communicate as Fully as Possible, the Whole Truth.
#5. Have No Favorites, Treat People Equally.
#6. Forgive Mistakes, People are only Human.
#7. Follow Through on Agreements.
#8. Listen Attentively.
#9. Lead by Example.
#10. Don't Talk Behind Backs.
#11. Pay your Bills Promptly and in Full.
#12. Keep Records of EVERYTHING.
#13. Remember your Body Language & a Firm Handshake.
#14. Don't Mix Business & Pleasure.
#15. Don't Give Excuses, Give Apologies.

Once lost you can never get trust back. By behaving honestly in your business practices your business partners will give you references to other people who may need your help.

There are a lot of books on the topic of Trust within business practices:

Building Trust: In Business, Politics, Relationships, and Life
By Robert C. Solomon & Fernando Flores

The Truth About Trust in Business: How to Enrich the Bottom Line, Improve Retention, and Build Valuable Relationships
By Vanessa Hall

Inter-Organizational Trust for Business-to-Business E-commerce
By Pauline Ratnasingam

Do Business with People You Can Trust: Balancing Profits and Principles
By L.J. Rittenhouse

The Workplace Revolution: Restoring Trust In Business And Bringing Meaning To Our Work
By Matthew Gilbert

For those of you who are more visual there is also quite a few YouTube Videos on the topic of Trust in Business.

1 comment:

  1. If you can't trust your business partner you're probably not going to do business with them. Thailand market entry entry services


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