3 Ways to Gain Trust in Business
I had a super exciting tete-a-tete with Ritesh Agrawal, the founder of OYO. We talked about how he came up with the idea and all the challenges he had faced since the inception of his company in 2012. We discussed how critical it is to build trust in business.
Here is an excerpt:
Trust is essential in all forms of human interaction and relationships. It is a significant part of any business because it can translate into sales and builds customer relationships. The company you own stands a reasonable chance of staying around for a long time if you can get people to trust it.
The question is, how can a business owner build trust with customers? Read on to find out.
1. Establish mutually beneficial relationships
To do business with you, your coworkers, employees, and customers must believe that they are making the right decision.
A lot more than banality and stereotypes are needed to accomplish this. Your customers should clearly understand the importance of your products and services. In the same way, employees should feel comfortable about taking responsibility. This introduces an additional level of accountability and shows the level of trust you have invested in them.
2. Always tell the truth
I believe it is important never to assume that certain people are incapable of handling the truth. If you want your employees and customers to be honest with you, you need to be just as natural yourself. If you get caught in a lie, no one will ever trust you again. Don’t take your first impression for granted because you will rarely have a second chance to make a first impression.
In order to tell the truth, you must also keep your promises. It would be best if you did not make a commitment you cannot keep. Do your best to make sure your word is held, and think about what you can realistically achieve.
3. Always deliver what you promise
Whenever a business overpromises and underdelivers, it kills trust in the long run.
Those businesses that make promises and fail to deliver on them find that they are losing customers. People are going to go to someone they can rely on when they are unable to trust you to keep your word. Therefore, it is wiser to underpromise and over-deliver to keep your clients’ trust and keep your business profitable.
It doesn’t matter how lofty your promises are, and they will leave just as quickly as they came. It is essential to always keep your authenticity in dealing with your staff and customers in order to gain their trust and loyalty.
Keeping these simple steps in mind will make it easy for you to build trust.
You aim for the same thing, whether you are building trust between individuals or within a team. It is of utmost importance to create an environment where people can share their thoughts and offer assistance to one another.
The time is now to start creating a trusting environment in your own life by taking steps to build it.
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