Earn Trust Before You Earn Money

Trust in Business

Earn Trust Before You Earn Money

When people start working at a new company they function on a probationary period. In short, if they’re rubbish they won’t see month two. You could say that they need to earn trust before they earn money.

For many businesses I always consider it such a shame when their sales team spends so much energy and time, working with a company to get them on board. They negotiate terms, haggle over prices,  communicate the benefits of their product and service. And make a sale. Back of the net.

The initial money comes in. Then it’s time to deliver. And they move on to the next sale? For some, the thrill is in the chase. But we all know what happens to promiscuous lovers. Yes, they get herpes.

Why is it that on the delivery of a product or service so many business relationships fall down? The champagne has been drunk. And as the romance dies the relational breakdown is excused as being simply what happens in business, and it ends up being far more of a one night stand than a lasting strong relationship.

Earn trust before you earn money. I love the Consultant who charges himself out at £10k a day but will not invoice for a further 6 months. If that company doesn’t believe they have received significant value for his £10k day date, then they don’t pay. A revolutionary idea but certainly reduces the barrier to working with him. How do you make sure that the businesses you work with trust you. Trust you for good faithful reasons not simply because you talk a good talk.

Consider how much your clients trust you right now. Consider how you can earn their respect. If in any way you have made mistakes, how can you rectify those and turn the experience around for them?

Where it’s easy for businesses to change suppliers and customers to change products, make sure you’re customers trust and love what you do. Because as you earn trust, and deliver on your promises, you’ll have no problem winning and keeping business. And you may win a few hearts along the way too.

How do you go about building trust with your customers? I’d love to hear your thoughts in the comments below?

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6 thoughts on “Earn Trust Before You Earn Money

  1. Your post makes some great points, but I would love a follow up that talks about the client responsibilities.  Few engagements work if the client doesn’t provide information or resources.  Often changing customer desires slide a solid opportunity into the ditch.  I have seen failures caused by both sides of an engagement, but it is the same train wreck no matter who is at fault.

    • I fully agree Harold and I appreciate the follow up suggestion and would love to explore and tackle customers responsibilities. I think in the future we will see online reputations for both the company and the customer, when the Sharing Economy establishes it’s influence within the mass pubic, and businesses get tooled up to know how to respond appropriately and not be bullied. This will bring a sharper focus on the mantra ‘that the customer is always right.’ Clearly, they’re not, both parties make mistakes, and where businesses are always vulnerable, I think the greater levels of transparency will help customers step up well to their responsibilities. This will be good for greater levels of fruitfulness in the way we all function. Thanks Harold 🙂

  2. Your post makes some great points, but I would love a follow up that talks about the client responsibilities.  Few engagements work if the client doesn’t provide information or resources.  Often changing customer desires slide a solid opportunity into the ditch.  I have seen failures caused by both sides of an engagement, but it is the same train wreck no matter who is at fault.

    • I fully agree Harold and I appreciate the follow up suggestion and would love to explore and tackle customers responsibilities. I think in the future we will see online reputations for both the company and the customer, when the Sharing Economy establishes it’s influence within the mass pubic, and businesses get tooled up to know how to respond appropriately and not be bullied. This will bring a sharper focus on the mantra ‘that the customer is always right.’ Clearly, they’re not, both parties make mistakes, and where businesses are always vulnerable, I think the greater levels of transparency will help customers step up well to their responsibilities. This will be good for greater levels of fruitfulness in the way we all function. Thanks Harold 🙂

  3. The fact that other businesses use their sales
    team to spend energy and time, working with a company to get them
    on board and then over promise and under deliver because of the trust factor is the best way to differentiate from your competition. Being transparent in that fact and being open about what you can and can’t deliver is how I have built trust with many prospects regardless of if they use my services or not.