Keynote: The Unparalleled Power of Trust

14
1
  • date post

    20-Oct-2014
  • Category

    Documents

  • view

    1.670
  • download

    0

description

A brief overview of the economic and personal benefits of the power of trust.

Transcript of Keynote: The Unparalleled Power of Trust

Page 1: Keynote: The Unparalleled Power of Trust

1

Page 2: Keynote: The Unparalleled Power of Trust

This a maze. This maze most likely represents your life. Complex. You can This a maze. This maze most likely represents your life. Complex. You can

get through life, just like the maze, but you will face many challenges and

complications.

Next (WRITE) "SIMPLER and EASIER“ and (DRAW) simple maze.

Elevator: The world is so complex. Think of all the things that make it

complex:

• Checks and balances

• Forms and processes

•Egos

• Office politics

Who needs all of this?

Wouldn't you all be happier and more productive if your personal life and

business were simpler and easier?

2

Page 3: Keynote: The Unparalleled Power of Trust

Can you imagine?Can you imagine?

1) Less work.

2) More money.

3) Less headaches.

4) ..and more FUN!

What is this? Show roll of red tape. This is red tape- it makes life so

complex.

3

Page 4: Keynote: The Unparalleled Power of Trust

The problem is that there is too much red tape.The problem is that there is too much red tape.

Too much getting in the way. Would most of you agree?

Example: Imagine this scenario. You go into your local provisions shop to buy some

eggs, milk or instant noodles. The cabinet which contains your desired goods is

locked. You try to persuade the store clerk to retrieve the items but you cant get

items until you pay him the money first. There is a breach of trust. An argument

then ensues as to whether he hands you the eggs, milk and instant noodles first or

you hand him the money. Finally you do an elaborate simultaneous exchange. Phew

was that overly painful.

Now imagine if you had to do a more complicated transaction, such as an employee

assessment/review or opening of a bank account, in such a manner...

Thread: Life wouldn't be simple and easy, would it?

4

Page 5: Keynote: The Unparalleled Power of Trust

Exercise: Draw the nine dots like you see them here on a piece of paper.

Can you join all nine dots using no more than four strokes and without lifting your pen from the paper? I will give you 2 minutes to do it.

(DRAW) Dots on board. Ask for volunteers to solution.

Any volunteers?

(DRAW) solution on board … Did you do it this way?95% of the people who took this quiz did it this way.

Why? Because people tend to overcomplicate things. They think inside the circle.Did anyone come up alternatives? Come on up and draw…

There are many simpler and easier ways to do this. When people hear “strokes,” they think straight lines, and they think it has to be 4, 4 continuous straight lines.

Other solutions are (draw on board)…

Explain the around the world solution…

Think simple and easy.

5

Page 6: Keynote: The Unparalleled Power of Trust

Lets shift gears…What if?

6

Lets shift gears…What if?

•Your advice is taken most of the time

• Your insights are sought- suggestions are cherished

• Decision processes are fast-tracked.

• The costs of auditing, legal, and tracking slowly disappear.

• Your recommendations are taken at face value.

• Information is shared between you and your client.

• Points of view are welcomed rather than suspected.

• Pricing to your clients is accepted as “fair.”

Thread: Wouldn't life be a lot simpler and easier? For you and

everyone?

This is the unparalleled power of trust.

Page 7: Keynote: The Unparalleled Power of Trust

What makes all of this happen? What makes all of this happen?

This is what happens when a client really trusts you. It is about TRUST and

building TRUSTWORTHINESS.

(highlight less cost and more revenue/margin)

Today's topic is on how trust can make life and business simpler and

easier. The result is a happier and more productive you and your

workforce.

•It is not rocket science.

•It is only complex- because you make it that way.

•Not something new or radical.

•Simple- that is the beauty of it all.

•But you you have to work at it!

Lets dig deeper …

7

Page 8: Keynote: The Unparalleled Power of Trust

Steven MR Covey wrote a book called The Speed of Trust, “as trust increases,

the speed of doing business increases and the cost decreases.”

8

the speed of doing business increases and the cost decreases.”

Hot dog vendor story:

•NYC. Very competitive. If you can make it there you can make it anywhere!

•Curbside vendor-Juciest hot dog, best price, nicest toppings

• Very popular product- queues around the block (no patience in NYC!)

• Couldn’t handle the traffic

• Self-service cash box

• Trusted clients- they trusted him back. Built a relationship and loyalty with

them.

• Made more money (tips)- sped up business, cut down on costs (by not hiring a

cashier)

• How would you feel about this as you lined up at the char kway teo hawker at

Old Airport Rd, CKT stall?

NOTE: The easiest way to build trust is by trusting first.

Thread: This is a great example of how trust and relationships make everyone

happier and more productive, life simpler and easier.

Transition How do we actually do this? How do we make it real? First let's look

at... What trust is.

What is Trust?

Page 9: Keynote: The Unparalleled Power of Trust

9

The definition of trust can appear to be complicated.

Trust is both personal and emotional. Trust is a relationship between

one who trusts, and one who is trusted.

o Put in context- I am a consultant, banker or lawyer and you

are the client and I want to build a trusted relationship with

you..

o To trust verb= act of trusting

o Trust noun= the actual relationships between you and me

o Trustworthiness noun= the traits or characteristics that I

exhibit in order to build trust

o We focus on trustworthiness

o To trust someone is to take a risk. There is no trusting without

risking, in fact. Yet to be trustworthy is the opposite of risky.

Trust can be taught, through skill sets and mindsets.

Lets look at one of the three skill sets we have developed….

Page 10: Keynote: The Unparalleled Power of Trust

How to build trust through trustworthiness?

The Trust Equation. An analytical approach to measuring trustworthiness

and the characteristics that you want to exhibit.

• C= Words. I trust what she says about… HIGH LEVEL

• R= Actions. I can trust her to… HIGH LEVEL

• I= Emotions. I feel comfortable.. HIGH LEVEL

• S= Motives. Caring. I can trust that he cares…. LOW LEVEL

10

Page 11: Keynote: The Unparalleled Power of Trust

11

When you build trust (through trustworthiness), you build a strong,

long term relationship, which allows for:

•Higher sales closing rates – you know what is going on

• Shorter sales lead time – nothing is hidden

• Higher employee retention –you have a high-level relationship

• Customer loyalty – trust drives loyalty

• Fewer competitive bids – less shopping

• More honesty from others – more openness/transparency

•And more…

• Yours?

Exercise: list 3 things that can affect you personally as a result

from speeding up trust.

Questions?

Page 12: Keynote: The Unparalleled Power of Trust

How do we get rid of the red tape?How do we get rid of the red tape?

Trust and trustworthiness. It begins with you. YOU need to make the

effort to lead.

Wouldn't you all be happier and more productive if life and business were

simpler and easier? Get yourself through the complicated maze of life.

If you are interested in an article on the 3 skills sets, called Trust: The Core

Concepts, please send me an email and I will forward.

[email protected]

12

Page 13: Keynote: The Unparalleled Power of Trust

13

Page 14: Keynote: The Unparalleled Power of Trust

14