James Adonis - The Truth about Trust in Business: How to Enrich the Bottom Line, Improve Retention, and Build Valuable Relationships for Success

Trust. Its one of those words we use all the time. We hear it on the radio and TV. We all know that when trust is broken it can be one of the most painful experiences of our lives. So why write a book about something we already know about?

Well, first, I challenge the notion that we actually know about trust. From my experience it is one of those things we think we know, but it is usually a surface knowledge. Second, it is so critical to building relationships, both professionally and personally (and that is one thing that everyone seems to agree on), that I think it warrants exploring and understanding.

This is not the first time someone has written about trust. In fact, philosophers have studied it, academics have lectured on it, and some great books have been written about it. What makes this book different? A few key things:

1. I have developed a series of models and diagrams that actually describe what trust is. These have been shown to everyone from kids to CEOs to psychologists to college professors. Everyone loves themnow its your turn to see them!

2. This book takes a practical approach to exploring trust and teaching companies what they need to do to build and maintain it across various aspects of business. It is filled with tips and guidance and real case studies to show you that it does really work.

3. I have included in this book the collective wisdom of known leaders in their fields. They, more than anyone, can give you all the guidance you need to make a real difference in your organization.

4. This book gives you insights and understanding in an easy-to-read style. I hate to read textbooks. I like to understand the author of the bookto know what makes her or him tickbecause it deepens the message that individual is delivering. I hope when you reach the end of this book you will feel like you know me, and the other authors as well.

Interestingly, I have been asking myself this question for the eighteen months I have been contemplating and planning this book!

Let me say outright that I am not an academic. I am not a psychologist. I am a thirty-nine-year-old woman who has had this concept of trust buzzing around in my head for so long that I finally thought, I have to write a book. The messages here can and have helped peoplelots of people.

Let me tell you some of the reasons why the whole concept of trust and these models are so important to me.

First, my son, Lachlan, who was nine at the time, brought home a one-page description of My Mum that he had made at school for Mothers

Day. Here is a copy of it; see if you can spot the thing that jumped out at me!

Immediately after the Awww, thats lovely. Thank you, I said, What do you mean I sometimes keep promises? I was quite indignant. Thats not me! I thought.

Well, sometimes you dont keep your promises, Lachlan said, very matter-of-fact.

Can you give me an example? I asked. I was a bit confused at this point.

Like the other week, you said we might go and see a movie on the weekend, and then we didnt go, he replied with a pout.

Oh, thats OK. It wasnt really a promise, then, right?

Lachlan looked at me and said, I thought it was.

Reflecting on what I had said, I realized that, whether I meant it as a promise or not, that was how my son had perceived it.

I started thinking about all the times I had said things like that, not only to him but also at work and to friends. My head started spinning. I pulled myself together and asked, How did that make you feel? I reached out and touched his hand.

He looked me squarely in the eyes and said, I just dont know when I can trust you. I felt like someone had reached in and ripped my heart out.

My son taught me a great lesson that day, and it was the start of the development of the model we will explore throughout this book.

Second, I have worked in compliance and risk management for most of my career, predominantly in financial services in Australia. What I have seen over the years is an industry that has had some difficulty in regulating itself, together with a string of corporate collapses, fraud, and questionable deals that has eroded trust in a vital industry.

Let me tell you, these companies are not all bad. In fact, I have always believed that, fundamentally, most people actually want to do the right thing. More often than not, many of them just dont know what the right thing is, or the laws have become so complex and open to interpretation it has become increasingly difficult to know what is right by law and what is right ethicallyand often the two dont match.

Interestingly, humans often have a habit of generalizing, and recently the professionals in the financial services industry have born the brunt of such sweeping criticisms as all financial planners are unethical, or all .

Basically, my experience in this particular field tells me that a breakdown of trust causes a lot of pain and expense for business, most of which can be avoided.

As I became interested in the whole concept of trust and began working on ways to describe what I believed, I also began talking to lots of people. I met with and ran workshops with CEOs, small business owners, marketing and branding staff, sales managers, HR managers, customer service representatives, compliance professionals, regulators, fraud investigators, police officers, consultants, and general employees. What I found was this:

1. 99 percent of those interviewed agreed that trust was a critical component of a strong relationship.

2. About 90 percent had some difficulty describing just exactly what trust is.

3. 99 percent said that when trust was broken, it either could not be repaired or it would take a very long time to restore it.

4. 95 percent said they did not consciously and actively build trust in their organizations.