Establishing Trust in Business Relationships

Establishing Trust in Business Relationships

Trust is the cornerstone of any successful business relationship, and I would argue that's an undeniable truth. In our tech-driven world with tons of ways to have virtual interactions, the importance of establishing genuine trust is imperative. The most timeless method of building trust is sharing a meal together, and that has not changed. In my retail world, it's been awesome to see face-to-face events coming back strong! But, it also seems like the pandemic has changed face-to-face and how people communicate in general. Post pandemic, communication in business feels more authentic, more direct, and more accepting. Do you agree?

Last March, I boarded a plane and headed down to St. Pete for A Day with a Shark with Kevin Harrington and his partner Brandon T. Adams. We had a pre-meeting Zoom, but sitting in that room, absorbing marketing knowledge like a sponge and enjoying dinner with the team that evening, truly provided a unique opportunity to connect on a personal level and foster a sense of camaraderie that transcends professional boundaries.

Obviously, after sharing a meal with business associates, you feel closer and you start to build trust. During these moments that individuals reveal their true selves, making it easier to gauge their character and intentions. The face-to-face interaction helps us figure out instinctively if we connect with a person. Body language, tone of voice, and even the choice of words all contribute to our gut feeling about someone. This instinctive connection is vital for establishing trust, as it reassures us that we are dealing with someone who is genuine and reliable.

Can you really get that instinctive understanding without meeting in person? I would say, yes, you definitely can - but that doesn't mean it will happen as quickly as it might if you are sitting next to someone. For example, I had the amazing opportunity to attend the Licensing Expo in Vegas last Spring, and while I met several people and established connections, there was one group I had to leave a card with; I later connected with the licensing agent I was hoping to meet on LinkedIn. And you know what? We scheduled a call and instantly felt connected. This isn't rocket science, but have you ever connected virtually with a business associate - and it felt just as helpful for establishing that trust as having dinner together? I'm guessing you have.

The pandemic has profoundly impacted the way we conduct business. Surprisingly, it feels like that shared experience has made people more direct and even empathetic in their business dealings. Perhaps navigating a global crisis brought out a sense of vulnerability and humanity that was less profound in the more cut-throat business landscape of the years prior. It seems to me this newfound empathy has helped build stronger, more trusting relationships, even in the absence of face-to-face interactions.

There is a growing recognition that business is not just about competition and profit margins, but also about collaboration and mutual support. Have companies have become more attuned to the importance of corporate social responsibility, employee well-being, and ethical practices? Or was that already the trajectory? This shift towards a more holistic approach to business has fostered an environment where trust and cooperation are valued more highly.

While the competitive nature of the business world has not disappeared entirely, there is a noticeable trend towards more compassionate and inclusive practices. Businesses are increasingly recognizing that long-term success is built on strong, trusting relationships with employees, customers, and partners. This shift is evident in the way companies communicate, with more emphasis on transparency, authenticity, and empathy. When I was singing in the local radio station band, JIF & The Choosy Mothers here in Cedar Rapids, we often included other bands and musicians. As a group, we weren't competitive, it was "the more the merrier." That's how my business world has changed the most. I'm not looking to cut people out, so to speak. I embrace collaboration in a way that I haven't in the past - with less suspicion and more directness (and always a smile).

Sound trust in business relationships is more important than ever. The ability to connect instinctively with someone in person remains invaluable, but the pandemic has shown us that directness and empathy can also play a crucial role in building trust even in business. I would argue that your own openness may be the only thing stopping you from making connections. If you're constantly shutting people out to keep more of the pie for yourself, you could be risking exponential growth. The business world may still be competitive, but there is a growing recognition that trust, collaboration, and mutual support are essential for long-term success. Let's embrace these principles and continue the trust we need to be successful and grow our business family as we would our friend network.

 

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