Over forty years in business, I've been involved with more than 100 companies, done thousands of deals, and worked alongside countless leaders and team members in multiple industries. In that time, I've come to believe that the most important ingredient in a business’s success is, simply, trust.
Because it’s become fundamental to my view of leadership and running companies, I’m going to publish a series of posts here on LinkedIn about the value of trust: what it is, how to cultivate it, and how to protect it.
In firms where people trust their leaders and colleagues trust one another, there’s more innovation and better business outcomes. Mistrust and politics are expensive, time-consuming and dispiriting. When a company has a reputation for fair dealing, its costs drop: trust cuts the time spent second-guessing, worrying, and lawyering. Trust strengthens every part of any deal: its durability, its potential profitability, and its flexibility. Like most things, business works better when the energy spent on doubt, fear and suspicion are reduced.