Posts Tagged ‘trust’
Wednesday, July 27th, 2011
A recent study performed by the Institute of Business Ethics found that companies displaying a ‘clear commitment to ethical conduct’ consistently outperform companies that do not display ethical conduct. The director of IBE, Philippa Foster Black stated, “Not only is ethical behavior in business the right thing to do in principle, we have shown that it pays off in financial returns.” Part of your commitment as a business leader is to create and maintain the processes and a culture that dictates ethical behavior. Ethical behavior is not an easy path, nor is it a path taken without thought and consideration. As a leader, decision with value connections will be presented frequently. Examples could include employees stealing from the company, doing personal business on company time, modifying accounting records, or extending a customer discount that was not earned, etc. Clearly defined organizational goals and clearly stated organizational values are integral to your ability to make the best decisions and take the right actions. As you deal with different types of situations you are being evaluated very closely by your team. As you lead by example, you become a champion for the organization’s commitment to ethical behavior. As you look to enhance the ethical policies and processes within your company, take into consideration the following five principles.
- Be trustful: Recognize that customers and employees want to do business with an organization they can trust. When trust is at the core of an organization, it is easy to recognize.
- Meet obligations: Regardless of the circumstances, do everything in your power to keep commitments and obligations to employees and customers. An incredible amount of trust is built when an organization honors its commitments. If unforeseen events stand in the way of meeting an obligation, immediately communicate the challenges and work together to find resolution.
- Reevaluate all documents and materials: Make sure all department and organizational documents and literature are clear and precise. Make sure they don’t misinterpret or misrepresent.
- Have documented processes: Every organization is structured differently. However, having documented processes and policies on how your organization interacts with customers and employees is critical. If processes are properly documented there is no question what a product or service should be or whether a customer exception falls within the acceptable guidelines. Take a hands-on approach to all accounting and record keeping as it will allow you to end an inappropriate action in a timely fashion.
- Be respectful: Treat employees and customers with respect regardless of differences, positions, titles, ages, or diversity. Always treat others with respect and courtesy even if you agree to disagree.
Successful implementation of these five principles becomes a leader’s daily commitment and responsibility. Oprah Winfrey said it quite simply, “Real integrity is doing the right thing, knowing that nobody’s going to ever know whether you did it or not.”
Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in helping businesses achieve sustainable results through leadership development and executive coaching. For information on creating a leadership succession plan visit www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.
Tags: commitment, ethics, ibe, institute of business ethics, integrity, oprah, processes, resource associates, respect, trust
Posted in Values | No Comments »
Wednesday, June 1st, 2011
“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.” – Peter Drucker
Before you answer the question, ‘What does a customer really want?’ Consider a broader question, ‘What is your definition of a customer?’ Although organizations deal with many types of customers, the definition should include two important components:
- A customer is someone who wants or needs your help, your service or your product, and is willing to pay for it.
- A customer is someone with whom your organization is attempting to create a unique and emotionally positive experience for which they will repeatedly purchase your product or service.
By defining your customer it becomes much easier to identify what your customer really wants. Above all, a customer wants a hassle free experience as well as to be individually recognized and treated with respect. Research shows that 96% of customers who are not treated with respect decide to never go back. Typically, customers will not complain because complaining just adds to the hassle of an already bad experience. Six out of ten customers will never return to an organization based on poor service … not poor products. They usually will not register a complaint with the organization; they just go elsewhere. Customers want a positive experience and want to deal with a service provider that has empathy and understands how they feel. They want a service provider who creates strong points of connection. A powerful point of connection creates a bond with customers and ensures a high level of trust. Trust builds strong relationships and a strong relationship ultimately creates customer loyalty. Also keep in mind trust is what your customer wants.
There are many requirements to building a successful and sustainable business:
- The ability to manage the organization effectively
- The ability to create financial growth
- The ability to innovate
- The ability to develop and sustain a loyal customer base
- The ability to make environmentally sound decisions.
When these five components are working in sync, an organization will experience sustainable success.
We know that loyal customers will always return to purchase your products or services, which creates a long-term stream of income. A satisfied customer who has had an average experience may or may not come back, therefore, creating a one time sales or revenue opportunity. Loyal customers always come back; whether it is once a week to their local grocery store or drycleaner, or monthly to their local pharmacy, or every April at tax time to the same accounting professional. No matter the business or industry, creating multiple, and consistent revenue opportunities has a very positive financial effect on the organization.
Additional advantages of developing a loyal customer base include their willingness to pay more for your product or service, and they are also more forgiving when your organization makes a mistake. As loyal customers, they trust your organization and have faith that you are fair. It is truly all about building relationships through trust and strong points of connection. Making the strategic decision to create a loyal customer base is one of the most important commitments you can make to the success of your organization.
Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in helping businesses achieve sustainable results through management consulting, strategic planning, leadership development, executive coaching and youth leadership. For information on creating a leadership succession plan visit www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.
Tags: Customer Loyalty, points of connection, relationships, resource associates, sustainable, trust
Posted in Customer Loyalty | No Comments »
Wednesday, June 23rd, 2010
 “Your listeners won’t care how much you know until they know how much you care.” - Anonymous
One fundamental truth about effective communications is that people will not believe what you say if they don’t believe in you. Credibility is the cornerstone of successful communication. To be an effective communicator, you must be believed. To be believed, you must be credible. To be credible, you must be authentic. To be authentic, you must be genuine. You must be you! Accordingly, authenticity is a state of constant evolution. The authentic person is someone who knows who they are, who they want to become, and what their core values are. Authentic people value themselves and give value to others. They are usually confident and open, trusting, trusted, and believable.
Authentic also means genuine and trustworthy, and trust is vital. People trust you when you are honest with them. Honesty is a critical leadership trait. People need to know you have no hidden agendas and that you honor your commitments and promises. Trustworthiness and believability are synonymous. You can’t have one without the other. To communicate persuasively and effectively you must earn trust, and to earn trust, you must be believable. So, how do you do it?
The first step in being more believable is being yourself. By knowing yourself and understanding your own fears, anxieties, goals, and aspirations, you will be able to relate more closely to others. The key to understanding others is self-understanding. People are more inclined to hear and believe someone who is honest and genuine. Belief is acceptance on faith. Some people will believe you on first impression. Others will need more time. They’ll want to get to know you and need to realize promises kept and will want to know that you walk the talk.
Most people learned early in life who should be trusted. Generally it was those people who were easy to understand and read. People who were happy, warm and caring made you feel good, and you trusted them. Others whose competence and confidence in you and gave you confidence to grow, were also people you trusted to help you achieve goals. These are the same qualities you look for today. These are the qualities others look for you to exhibit. Learn to recognize and speak the language of trust. Strength in your voice, confidence and openness in your posture, and genuine interest in your expressions are all qualities you can use to create trust. Use your personal energy, enthusiasm, and facial expressions along with your words. When you coordinate your vocal tone with your words, with your actions, and with visual messages, you are more likely to be trusted and believed. Trust is one of the most basic but most powerful tools for change.
Many will hear everything you do and say. Your words and actions should be consistent to send the message you want to send. Your personal values and beliefs will be evident through your actions and behavior more than by your words. The only way to communicate values is to act in accordance with them. You can write volumes about the right way to treat people or speak about customer focus or cost containment, but if you publicly berate a staff person, or make a customer wait while you finish a personal matter, or blatantly waste supplies, your message will be what your behavior shows, not what your words say. The more congruency there is between your words and your actions the more people will trust you. As Jack Welch said, “Trust is enormously powerful in a corporation. The only way I know to create that kind of trust is by laying out your values and then walking the talk. You’ve got to do what you say you’ll do consistently and over time.”
Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in helping businesses and individuals achieve high levels of excellence and success. Learn how at www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.
Tags: Authenticity, communication, Jack Welch, Leadership, RAC, resource associates, Resource Associates Corporation, trust, Values
Posted in Communications, Leadership | No Comments »
Monday, March 29th, 2010
Trust is essential to the success of any team.
Outstanding performance and winning teams are based on trust and competencies that produce results. Trust is a belief that those who you depend on in your team will meet your expectations. When trust is present, your team members will work effectively together, share information freely, share challenges and mistakes, admit lack of knowledge, and commit themselves to the success of the team. It is easier to build trust when working in the same physical environment because you will be exposed to many visual clues. Researchers say that it takes less than four minutes to make a trust judgment based on someone’s voice, body language, and words. However, in today’s business arena, there are times where a team is functioning remotely and developing trust can never be forgotten or pushed to the wayside.
When people fail to work well together, it is often because there is no trust. When there is no trust, there is fear, and fear is a major deterrent to innovation and results, and without trust the best ideas will never surface. Trust can never be mandated, as it must always be earned. There must be honest, complete, and open communication delivered in a way that fosters mutual respect. Your employees must feel free to ask questions with the confidence they will receive support and the necessary information. Each employee must also feel free to openly express his or her thoughts and feelings. There can be no hidden agendas or clandestine activities. An effective leader must become an expert at ensuring that everyone is kept informed and feels that they are in on things.
In his book, Building Productive Team, Glenn Varney introduces what he calls the Trust Cycle as a means of showing how leadership can prevent cynicism and establish trust. The Trust Cycle shows “Trust is developed from adequate to total information so that the individual can influence or make decisions, which builds more trust.”
There are many factors and behaviors that build trust, and even though developing trust is a very individual experience, research has shown there are some common factors, which help create an environment of trust. Trust can be enhanced when a leader focuses on building strong relationships with and among the team. Review the following categories and concepts as it relates to your department, team, or business unit. What can you do to build stronger relationship and deeper trust within your team? How will it impact the overall results?
- Results: All team members are focused on and produce results, exceed customers expectations, meet delivery times, and measurable results are documented.
- Integrity: Team members can be trusted to mean what they say when they say it, show commitment to the team, do what they say they will do, communication is essential, and behavior is in the best interest of the team.
- Change: Team members are willing to change and adapt, open to other view points, and are flexible.
- Empathy: Putting yourself in a team member’s shoes and showing care and concern are culturally sensitive, and sensitive to the impact of all decisions.
Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in helping businesses and individuals achieve high levels of excellence and success. Learn how at www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.
Tags: building productive teams, Communications, glenn varney, Leadership, Management, performance, RAC, Resource Associates Corporation, results, trust
Posted in Business Management | 1 Comment »
Wednesday, September 16th, 2009
One of the best ways to increase your sales efforts is to develop centers of influence.
Typically centers of influence are individuals who have influence in the community or in a specific industry and have agreed to help you make referral connections. An effective center of influence, should have influence in your defined or targeted market. Centers of influence could be a satisfied customer, a community or business leader, a former business associate, or someone who really understands what you do and believes in you! It is our experience that centers of influence refer the best potential clients. Why? Because there is already an established connection or relationship between the center of influence and the referred client. That existing relationship is based on trust and past success.
There are many ways to cultivate a center of influence. Here are three ideas we have found to be effective.
- Clearly communicate the details. Help your center of influence clearly understand what you and your company does and the value you can bring to a client. Also let the center of influence know specifically how they can assist you—who you want to meet and why. Remember, they are putting their reputation on the line so be clear and specific.
- Always show your appreciation. Saying thank you and showing appreciation goes a long way toward additional opportunities coming your way. A hand written thank you note, giving a small gift such as a topic specific book, or buying your center of influence a meal are but a few of the simple ways you can show your appreciation. Everyone likes their efforts recognized and appreciated.
- Always provide feedback. Your center of influence is not just interested in providing you with referrals. He/she will also be interested in the outcome of the referred connection for two reasons. First, the center of influence will be interested to know if the connection provided value for both parties—was it a positive and productive interactions. Second, a good center of influence will be interested in the outcome so they can measure whether they understand enough about what you and your company does to make sure they are making the right referrals. Everyone wants to provide value, and your center of influence is no different.
Building and managing your sales funnel, no matter what industry, in an ongoing process. Whatever other marketing techniques you are currently implementing, Look at developing relationships with the right center of influence. This one relationship can be a powerful and productive source of business!
Tags: center of influence, referrals, relationships, Sales, trust, winning
Posted in Sales | No Comments »
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