Trust is Good for Business (Part 2)

Phil Jackson, 11 time Championship winning NBA Coach has said, “Good teams become great teams when the members trust each other enough to surrender the me for the we”.

This advice is great for businesses too.

Businesses that have a strong foundation built on trust, experience many benefits. They have a greater sense of sharing, higher morale, are more collaborative, innovative & creative, experience higher productivity and are more profitable. Building teams based on a strong foundation of trust are crucial to success.

“Leaps of greatness require the combined problem-solving ability of people who trust each other”.

The 2019 the Edelman Trust Barometer concluded that 67% of people would buy from an organisation that they can trust, 76% would recommend them to a friend and 55% would pay a premium for their services. A recent survey by Watson Wyatt concluded that companies with high trust, out-perform companies with low trust by 186%.

Furthermore, people who work in “trusted” businesses that focus on building deep, meaningful relationships, experience the benefits of greater success, health and personal well-being.

The leadership of an organisation sets the “cultural tone” of that business. Regardless of whether it is a small family business or a large multi-national, the leader of the organisation sets and enforces the standards for the organisation to follow. As the leader in your organisation, what tone do you set with respect to the culture of the organisation?

As has been found recently, in the Banking Royal Commission, the Royal Commissioner concluded that the inappropriate conduct of some of Australia’s largest banks, was driven by the senior leadership of these organisations, some of whom have lost their jobs. Consequently, the reputation of these big bank brands has been tarnished and the level of “Trust” that the community feel toward these banks has taken a slide. It will take a dedicated campaign of behaviour change and many years to regain the trust and confidence of the public.

Building Trusted Relationships since 2007
“It is hard to trust someone to take responsibility for others when they can barely take responsibility for themselves”.

To nurture a culture of trust, surround yourself with people who “have your back” and are prepared to support you to achieve your goals. Don’t ask what someone is prepared to do for you in the good times, ask them what they are prepared to do for you in the tough times. We value the trust that our clients place in us. Paul from Ray White Toronto told us that we give him “peace of mind” that allows him to get on with doing what he is best at. Watch the full video here.

Our team is proud to be the first choice for many businesses and have supported them through their toughest times. As a result, a common theme with all our clients is the feeling that the Real Balance team, “have our back, as much if not more than me”, “Without question, I trust the Real Balance team” and “we wouldn’t be where we are, without the team from Real Balance”.

Since 2007 we have dedicated ourselves to building strong, trusted relationships with our clients. These relationships have been crucial to our clients success as much as it has to our success. Over the last 11 years, we have consulted with many organisations and teams, to help them improve their “Trust-Edge” and build better businesses that were not only more profitable but enjoyable to work at, thereby helping business owners to reach their goals and make all the hours working in the business, worthwhile.