Trust is essential for business growth. Humans are wired to survive. Thus, we tend to avoid pain more than we seek pleasure. The fear of punishment is more powerful than the possibility of reward. However, the antidote to fear is trust. Trust is how we overcome threats. Trust can be lost in seconds, whereas it takes a lifetime to earn. The more you build trust with employees, customers and suppliers, the more you lower the fear-based barriers that get in the way of business. This is what makes the difference between, say, a long-term relationship with a supplier that operates on a handshake versus striking a deal with a stranger that requires negotiating a 30-page contract. It’s the difference between a customer who takes six days to pay, versus six months.
Posted on: Tue, 09 Jul 2013 09:35:46 +0000
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