TRUST IN THE MARKETPLACE

 by Charlotte L. Hanna CMBS Global

Trust, in a relationship, is usually developed over a considerable period of time. However, in today’s fast-paced business climate such time may not be available initially for displaying your own confidence, or determining the reliability of others.

So, how do you exercise trust within today’s marketplace environment, without the luxury of a bonding experience? Though it may go against everything you have been taught over your lifetime, the key is to TRUST FIRST.

We are not often encouraged to blindly trust others, and we teach our children not to trust a stranger. But according to experts, such as Guy Kawasaki, previous chief evangelist of Apple and co-founder of Alltop.com an “online magazine rack” of popular topics on the web, and a founding partner at Garage Technology Ventures, to trust first will encourage others to trust back.

To be able to trust others always requires something of us. Because there is an element of risk, it requires a certain amount of faith. It also requires an ability to “let go” of our complete control, some self-sacrificing. It can require patience. And it may require flexibility, the willingness to change a previous long-held point of view, perhaps, or the ability to adapt to new trends and concepts.

When we trust others, they are encouraged to be more confident. Confidence is learned, not inherited. When we show confidence in others, they are free to be more confident in their abilities, and increased self-confidence increases production. The more self-confidence displayed, the more trust from others becomes possible.

Zig Ziglar breaks it down this way for selling in his article, The TRUST Selling Process:

T is for “Take Action.” In other words, manage the objections and then close the sale. This is when you will enter into an ongoing relationship with the prospect.

R is for “Relate,” which is building trust and rapport with the prospect. The focus in this step is on the prospect, not on you.

U is for “Uncover the Needs.” The purpose of this step is to identify the real needs, issues and concerns.

S is for “Sell the Solution,” where you present your recommendations customized with the prospect’s benefits.

I would add that the final T can be for “Teachable”. In life and in business, we only continue to grow when we continue to learn, and when we cease to grow we die. To keep your business alive and healthy, you must continue to grow it – not necessarily in size – but in knowledge and depth of understanding, in quality of goods and services, and in your relationships with others and the networks within your niche.

The marketplace, of course, will only ever be as trustworthy as those involved. Integrity and accountability are the responsibility of business owners and consumers, alike. The huge number of online and offline marketers constituting today’s marketplace around the globe, makes it impossible for any group or organization to completely protect all involved from those whose daily goal is to scam and fraud the business community.

Bringing TRUST to the marketplace begins with each of us. Individuals of remarkable character, willing to trust and encourage the confidence of others, can perpetuate that trust. Even if only within your small corner of the world – it will have a beginning – the necessary start for the possibility of unlimited growth.