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The Importance of Mutual Trust in Business

The Importance of Mutual Trust in Business

With all the changes and disruptions going on in the world, one thing business truth remains unchanged. You cannot build a strong business without mutual trust. Mutual trust means establishing a reliable and respectful relationship between employers, and even your customers and suppliers. 

However, this is easier said than done. Relationships are fragile and trust cannot be grown overnight. It takes time and constant nurturing. Mishaps are bound to happen along the way and both business owners and their employees will have to take steps to rectify and fortify their professional relationship in order for it to thrive and flourish. This process will involve patience, forgiveness, and setting boundaries. 

Your professional relationship starts the moment you sign a contract or agree to terms of service. Here are some tips to strengthen trust and build a solid and strong alliance:

Do Unto Others…

As the saying goes, “do unto others as you would have them do unto you.” In working relationships, this means that you have to give what you expect. If you are a leader who expects stellar performance from your employees, you must be able to lead by example. Let your people know that you are working to improve the business and are working just as hard as they are on building the business. If you are an employee, you must be ready to deliver quality service to both your boss and your customers. If circumstances permit, be willing to go the extra mile for them. Taking these steps will build trust and loyalty.

Reliably Reliable

Nowadays, the gig economy is one of the rising business models. There are always freelancers and part-timers available to take on small projects that your business cannot. Your ace as a small business is reliability. If you are able to give your employees and customers security, they will not take a chance going to another company. In this age where the COVID-19 pandemic makes it hard for business owners to make long-term plans, business owners must work hard to provide stability. Having job security will ensure your employees’ trust. Being able to deliver stellar service will ensure your customers’ trust.

The Honesty Policy

We always say: “honesty is the best policy.” This adage rings true for all relationships. Transparency in all your dealings will enable you to build trust with your employees and customers. Do not overpromise and under-deliver. All efforts must be exerted to make good on your promise. However, in circumstances where you can’t, you have to be honest. Decline projects that you don’t have the resources to complete. Or better yet, offer to work on a part of the project that you can actually complete. 

Trust is a two-way street. You cannot give it if you do not have it. Give trust time to grow and reap the benefits of a strong work relationship. 

Do you have any other tips on how to build mutual trust? Share them with us in the comments. Remember to work smart and be a blessing to someone today. Stay safe and healthy!

Written by Jaie O. TheHelp