Tuesday, October 24, 2006

Levels of Trust?

I found a very interesting article from entrepreneur.com today here, talking about the virtues of trust within a business or an organization. I found it very interesting and while you never really think about issues like it, it rang very true. The author, Paige Arnof-Fenn, begins with a very great quote for the world, in that "I’d rather trust someone and be wrong than never to have taken the risk." How true is that? The world is filled with a ton of people who will never, or cannot ever really trust someone, but in the business world you almost have to sometimes to get ahead, or know when not to to make sure that you aren't ruined. Choosing your friends, and what investors, partners, or workers that you can truely trust and be associated with is one of the most important issues facing startup business owners.

As she points out, micromanaging professionals is often a slap in the face, and something that cannot be done all of the time if you are in and out of the place of business. So, having faith that whoever you leave behind will do the job is impairative. For example in the case of a restaraunt or bar, having someone managing the place when you're gone, having employees that you know aren't trying to scam you, etc. is something that can save you a lot of money -- and a lot of headaches. She throws a laundry list of examples and helpful advice for those who wish to be a bit more trustworthy in their business. They are (from the article directly):
  • People who previously took advantage of their colleagues will probably try to pull a fast one on you, too. A leopard does not change its spots.
  • Bullies in school turn into bullies as adults, and they’re just as insecure as you remember.
  • Listen to your gut, your clients and your references. And don’t just listen to what is said, but listen for what is not being said as well.
  • Beware of media buyers whose numbers don’t add up and PR people who get more publicity for themselves than they do for their clients.
  • The same people who try to cut you out of a deal are the first ones to call when they need a favor. As my mom says, beware of the casserole ladies who show up the day after the funeral of their best friend.
  • Partner with people who have great reputations. It’s a reflection of your brand, your quality and your integrity. Great people surround themselves with great talent, which increases the probability of success.
  • Be original and creative, and always work with other innovative thinkers. There are many copycats and imposters out there who’ve made a career of corporate identity theft. When you discover people passing off others’ work as their own, run--don’t walk--in the other direction. Do your own homework to make sure you’re working with the real brains behind the deal.
  • Karma catches up eventually, so do the right thing for the right reasons and keep the faith. It usually doesn’t take long for the violators’ intentions to be revealed and their plans to backfire. You never lose when you take the high road with a long-term perspective.
I find myself to agree with these very much, and for them all to be things that I have thought at one point in my life. I think printing these out and sticking them somewhere I could see them could help me out a ton while running a business -- as dumb and cliche as it sounds, because it's very easy to forget some of these and lose your head while you're under a lot of stress and pressure. Maintaining your composure, remembering your values, and who you can trust in the world is one of the most important and vital issues to a business manager, and lessons I hope I can learn before I have to jump into the world of management.

1 Comments:

Blogger Allison said...

It seems difficult at times to trust someone else completely with your company that you have invested so much time, energy, and money into. The list is helpful to stay away from those people, but I never realized how hard it would be to hand over the evening shift to someone else so you could go home. I feel like I am very trustworthy in what people tell me, but its hard to pass off my hard work for someone else to hold on to. I think the article does a good job of detailing those who should be avioded.

November 12, 2006 11:45 AM  

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