This weeks podcast episode of I hate Numbers looks at How to develop Trust in Business. Without trust, you have nothing. With it, you can do great things.
Trust, a firm belief in the reliability, truth or ability of someone or something.
Buy One Get One Free is a pricing strategy. I am applying that to this week’s episode, you get two themes wrapped up in one podcast. Trust and Credit Control, they have more in common than we think.
Trust is an integral part of our business lives. Your Business does not operate in a vacuum and must invest in TRUST.
Your business cannot operate without TRUST. Whether that's trust in yourself, your suppliers, your customers, or those that you look to work with.
TRUST which requires a leap of faith as opposed to blind faith. Blind faith (or stupidity) is like a non-swimmer jumping into the deep end of a swimming pool and hoping that somehow, they would be ok
You shouldn’t trust someone at face value, just as much as you wouldn’t to give credit without some checking. You need some validation and/or evidence of that person ability. In the words of Ronald Reagan, “Trust, but verify”.
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Extend your trust as your confidence in your business relationship increases. It’s the same with credit control, when your customer conducts their account correctly, you improve your terms of business.
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With TRUST, if you feel someone is not behaving as expected then your need to deal with it. Avoidance, just, like in credit control helps no one
With TRUST, with all the best will in the world things don't always work out. You need to act, show some teeth. Kindness does mean softness. When customers don’t pay on time and are taking advantage you need to act.
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Systems and systematisation plays a major role in TRUST and getting paid on time. You need to blend in the human, commercial and business judgment.
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How to develop Trust in Business is not just one factor.
Now, make yourself comfortable, sit back and listen. Most importantly, subscribe so you do not miss an episode.
In This Episode
Links
https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288
https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers
