Leveraging The Old Old Thing In New New Ways
Several years ago, a business book titled The New New Thing was published to tell the story of the founder of Silicone Graphics and Netscape. It talked about his ability to spot trends early and how that ability could be turned into a fortune. Knowing what the next New New Thing is is very important. But, if you forget the Old Old Thing, the New New Thing will fail.
What is the Old Old Thing? Relationships! The formation of strong relationships has a rich history of success dating back to the dawn of mankind. When it comes to any human activity, including the new world of e-business, establishing long-term, problem solving relationships based on trust will always be a key to success.
Relationships Are Based on Trust!
Trust is the key to any long-term relationship. Trust is the glue that will hold the net-enabled knowledge economy together. Trust doesn’t just happen; it is earned over time, and if you do something to diminish it or lose it altogether, you will find that it is very difficult to get it back.
Trust is earned when you build on a strong foundation of shared values, such as honesty and integrity. The more you compromise on values, the more you will diminish trust.
Never Teach Your Business Partners to Distrust You!
Two months before General Motors canceled the Oldsmobile line of automobiles, they told their dealers that this would not happen. The result is that all GM dealers have lost trust in what the manufacturer will tell them both now and in the future.
When computer manufacturers will not tell their dealer network about the future direction of their products, the result is that the dealers look uninformed in the eyes of their customers when sudden product changes happen without warning. The unspoken message to dealers is “we don’t trust you.”
I have worked with one of the biggest consulting companies, helping them to craft a major new strategy for their firm. To my surprise, then the strategy was finalized, the top executives were afraid to share the plan with the rest of the partners worldwide because they felt it would leak out to their competition. What good is a strategy if few know what it is? What is the future of a company that can’t even trust their own people? What is the future of trust in that company? I think you know the answer. By the way, you’re right!
It can take months and even years to establish a trusting relationship, yet it can all be lost in a single day. Be careful!
Can You Win Trust Back?
You can re-establish trust, but it is difficult and takes time. You have to adhere to communicating with honesty and integrity at the highest levels, without compromise.
To keep from losing trust in the first place, use what I call the trust meter. Draw an old-fashioned gas gauge and put the needle where you think trust currently is, from high to low. Then ask yourself, “What will happen to trust if we go ahead with whatever we are planning?” If trust will go down, you should modify how you are doing what you want to do so that trust either stays the same or goes up. Anytime you can get trust to go up, you have a winning strategy!
Leveraging the Old Thing in New Ways
The old way of building relationships – eyeball-to-eyeball, handshake-to-handshake, in tangible, physical meetings – will always be the best way to establish a relationship. But in today’s fast-paced global economy, that isn’t always possible.
Building Today’s Virtual Relationships
A virtual relationship is based on the same foundation as any other relationship: trust and mutual respect. A virtual relationship exists between people who primarily meet through the use of technology. For example, for the past ten years I have retained a copyright attorney located in Denver to draft major contracts for my business, yet I have never met him face-to-face. We use telephones, fax machines, and email as our means of communication. Trust was established through a recommendation made by someone else I trusted.
In my work as a strategic advisor to top executives form around the world, I need to attend strategic meetings; but when one meeting is in Japan and the next is in Europe, it is often impossible for me to attend. However, thanks to technology, I can!
By using a high-end video conferencing system (one that allows for a broadcast quality picture and CD quality sound), I can maintain a trusting relationship and direct the meeting from anywhere in the world. I have found a key to maximizing the virtual meeting is to have met all of the participants face-to-face before trying to meet in a virtual way.
Technology, like video conferencing, does allow us to save a great dale of time and money by not having to travel, but if you try to make all of your meetings virtual, you’ll be making a big mistake! If you need to re-establish trust, a virtual meeting will never work. Think of it this way: if you are trying to change the way people feel, have a physical meeting.
Virtual meetings tend to be more formal and scripted with tight agendas. Physical meetings allow for informal conversations that tend to strengthen relationships, thus humanizing them. For example, while taking a coffee break you might talk about your children or golf or some other personal subject that allows others to get to know you more on a personal level.
The Virtual Sales Call
Several years ago, I had an insurance agent who had everything a sales person could want; he had my trust. But relationships are multi-dimensional and trust alone will not always sustain them. My agent didn’t seem to understand that time is valued differently by different customers. He used the same approach with every customer: meet in a little restaurant where he would show documents and offer advice. I explained to him that I had a very busy schedule and, although I like him, I would rather spend time with my family than with him. I requested that he set up a secure site on his Web site where he could post the documents he wanted me to review and then he could share his consultative advice on the telephone after I reviewed them.
Being a late 20th century sales person, he thought he would lose the relationship and not make the sale if he couldn’t actually be with me. He was wrong; I had to find someone else.
Are all people like me? No. Some people want their hands held s – hold them! Some people want to serve themselves s – let them! Customize how you relate to each person based on his or her needs, not on your preconceived notions of how to relate to them.
Technology, such as cell phones, e-mail, groupware (or as I prefer to call it) teamware, and video conferencing are just a few of the tools we can use to reach out and touch someone, anywhere, any time.
Unleashing the Power of Communication
Is there a difference between informing and communicating? Yes. Informing is one way; it is static and does not always cause action. Communicating is two way; it is dynamic and usually causes action. Large and small organizations worldwide are in the Information Age, yet they also need to be in the Communication Age. Relationships require communications! If we only have an Information Age relationship, it will be one of cooperation, not true collaboration, and trust will be less. Use Information Age tools and Communication Age tools to create dynamic, 21st century relationships.
Establishing Trust On-line
The best way to establish trust on-line is to make it easy for people to trust you. Having a secure order form on your Web site (a page is secure when you can see that the lock icon is closed at the bottom of your browser) does make it easier for people to trust you, but it does not guarantee that they will. The addition of a privacy policy helps, and if you have a trusted name brand in the “real” world, you are definitely ahead of the game.
The truth is that it takes time to earn trust, but it is time well spent. Trust can be earned by delivering on each promise. I have found that by exceeding expectations, that is, promising a lot and delivering more, you can establish and keep trust.
Daniel Burrus, one of the world's leading technology forecasters, business strategists, and author of six books
Copyright 2003 Author retains copyright. All Rights Reserved.
