Ideas of how to earn trust with sellers, investors, and other stakeholders:
• Maximize the say-do ratio (do what you say, as close to 100% as you can). Deliver on promises.
• Share the unknowns & vulnerabilities ("almost overshare the negatives").
• Every relationship has a "trust bank account." Deposit into it every day.
• Pre-build trust with marketing (website, bios, content, etc.). Be authentic.
• Put yourself in the shoes of your counter-party ("If I was sitting on your side of the table, here are the factors that I would care about, and this would be my perspective").
• Share mistakes. It's an opportunity to differentiate by showcasing what you've learned.
• Demonstrate fairness and reciprocity (yield; relationships are two-way streets). Make sure to get credit for what you do (but not obnoxiously).
• Understand that there's a difference between being trustworthy and being perceived as trustworthy. You have to advertise and build the perception.
Check today's new episode of the Minds Capital Podcast (YouTube, Spotify, Apple Podcast) with Jory Caulkins.
