Why trust is so essential in business – Guest Blog
Building Trust forms relationships. Relationships build potential customer and potential referrers. Trust is the most critical element to any business. If you don’t trust someone, you won’t do business with them.
So how can you use networking to build trust?
Martin Byrne from Business Protect, has been to over 550 4Networking meetings, he’s received 46 testimonials from other 4N members and he is group leader for Macclesfield 4Networking. He joined 4N in 2008 and has successfully used networking to grow his business. In this blog he explains why building trust at networking events is so important to this process. So over to Martin.
When I got to networking events I often have to remind myself to take that leap of faith and focus on building relationships instead of trying to look for revenue opportunities there and then.
It’s hard to shoehorn yourself into this mentality and stick with it but it’s the only realistic strategy for long term networking success. Why? Well to repeat some phrases that I have been told (I didn’t think any of this up myself)….
- People buy people before they buy products and services
- People like people that are interested in them as people
- People like people that they think are like them
If I don’t like you the answer is no (I don’t care what the product or price is) and I’ll go and find someone I do like.
So in terms of meet, like, know, trust you have to meet people (duh-huh!), you have to like each other or you won’t move on to the next bit and get to know each other and only through getting to know someone can you build trust.
Once trust is established then the potential exists for a well-founded business relationship.
First Focus for Building Trust
So the first focus at a networking event has to be building rapport. This is where you find out if you even like each other.
You don’t like everyone you meet, that’s natural, it’s life and sometimes de-selection can be as important as selection.
Why is Chit-Chat important?
Whilst chit-chat can seem trivial and unimportant it is in fact the most important part of networking, finding out what you have in common, talking about it, it doesn’t matter if it’s movies, kids, holidays, music, sports, potholing, whatever.
Within 2 minutes you can establish the like part of the equation and that allows you to move on to the know part.
Can you build trust in 10 minutes?
You don’t get to know someone in a 10 minute chat or 1 networking meeting.
It takes time and as the know builds so does the trust.
What actions following on from a networking meeting can help build trust?
Whether you follow up, turn up or call back when you say you will…on a consistent basis, that’s what builds trust.
And when you finally get there you can talk about business in a totally different way than when you first meet someone.
Then, when and if they or someone they know needs your product or service they can refer you with confidence because they know, like and trust you.
In his last blog, “being nice pays” Martin explained how he has used positive attitudes to grow his business, if you use the suggestions from his last blog in collaboration with his advice in this one, I’m sure you will agree your business will grow.
Martin helps businesses to place life insurance and critical illness cover through your business and claim full corporation tax relief on the premiums, which may be preferable to paying for your personal life insurance out of your post-tax income.