We think we make decisions rationally, but even as experienced business people we don’t. One key factor that influences us is TRUST. In order to be judged ‘trustworthy’ one must demonstrate the following four traits:
3. Consistency (reliability)
4. Willingness to change (if proven wrong)
Trust is hard won, and easily lost.
Little white lies and ‘innocent’ gossip are examples of how we lose trust without even thinking about it.
Trust is currency of business relationships so it is vital. It may seem like a ‘soft’ issue’ but it has ‘hard’ business benefits.
Newsagents in particular have the business opportunity to be trusted local community members and help differentiate themselves and build effective barriers to entry against competitors by the strength of relationships built on trust.
This applies to all relationships because all relationships of course, and when someone fails in this regard, we should work together to remedy that breach.
Because it pays to be trustworthy.