03 Feb The one ‘BREAKTHROUGH QUESTION’ you must ask to help yourself…
In a high-trust working environment, costs go down, speed improves, your team and your customers are more engaged and satisfied and your business transactions are easier. You will be able to grow your team, your business and your profits – simply by focusing on building, maintaining and improving trust.
A low-trust working environment is a polar opposite. Costs are high, and everything is so much harder and takes so much longer. There is distrust, resentment, secrets, rivalries, conflict and defensive and protective behaviour and communication. It also makes for a thoroughly miserable working environment.
So when it comes to the importance of trust to the future of your business, it’s pertinent and extremely important to ask yourself this one breakthrough question:
How much value do you and your team put on building, maintaining and nurturing a high-trust work environment?
Trust was the key for Warren Buffet when it came to a major business transaction.
Imagine how daunting, nerve-wracking, and downright difficult it is to start and conclude a billion-pound business acquisition.
Acquisitions of this size normally mean weeks and months of drawn-out meetings and wrangling, legal arguments and due diligence, costing millions.
So, how did Warren Buffet complete the £1 billion purchase of McLane Distribution, with its 14,500 workers, from Wal-Mart, based on a two-hour meeting?
High trust between Warren Buffet and Wal-Mart executives made a quick deal possible.
In your business low trust is a tax, while high trust is a dividend.
For more on the sale of McLane Distribution to Warren Buffet and the importance of the relationship of trust between Warren Buffet and the Wal-Mart executives, click here.
Trust and cooperation are not standard in business and yet we know they should be.
But there are two attributes that every single business leader, including you, has the power to develop for a breakthrough. These attributes will help you create the type of business you can be proud to call your own.
They are Empathy and Perspective.
Click here to access our Business Bitesize library that includes our downloadable “Trust Builds Business Tools and Resources” report and this link to watch Simon Sinek, author of multiple bestselling books including Together is Better, talk in more detail about these two attributes and their importance when building a trust relationship.