Summary -The Trust edge
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David Horsager is a business strategist and author known for his book "The Trust Edge". He argues that trust is the foundation for success in both personal and professional relationships. Horsager identifies eight pillars of trust: clarity, compassion, character, competency, commitment, connection, contribution, and consistency. He asserts that leaders who demonstrate strength in these areas through their actions, words and behaviors will develop trust with others and gain a competitive advantage.
Summary -The Trust edge
- 1. David Horsager Some Impressionistic takes from the book The Trust Edge by Ramki ramaddster@gmail.com
- 2. About David Horsager David Horsager is a business strategist, keynote speaker and author of the #2 Wall Street Journal bestselling book The Trust Edge: How Top Leaders Gain Faster Results, Deeper Relationships, and a Stronger Bottom Line. Through his book and programs he shares the secrets of using trust to impact the bottom line. Combining humour, illustrations, and memorable stories with research and insight, Dave sheds light on the confusion and misconceptions surrounding the cornerstone of personal and professional success. Through his Master’s research, experience as Director of K-Life Inc., and founding partner of Special Delivery Productions, Dave learned first hand how the world’s most successful people gain and keep the trust of their customers and colleagues. He’s taken that knowledge and broken it down into tangible steps that audiences and readers can incorporate into their own lives right away. As a Certified Speaking Professional, David has delivered life-changing presentations on four continents, with audiences ranging from Fortune 500 executives to the armed forces and professional sports teams. He’s built his reputation on two things – being easy to work with and delivering engaging, high-energy speeches every time .
- 3. "Trust flows from individuals, not organizations." That's the best summary I can provide of David Horsager's book "The Trust Edge: How Top Leaders Gain Faster Results, Deeper Relationships and a Stronger Bottom Line.“ Let me give you a sample of his wisdom: "Trust defined: Trust is the confident belief in an entity: To do what is right. To deliver what is promised. To be the same every time, regardless of circumstances.“ I can't imagine a person staying in business very long without trust from every angle. Your customers have to be able to trust you. Your employees must trust you. Your vendors must trust you. Even your competitors must trust you. It's that simple. If any of those relationships breaks down, close your doors and find another way to make a living. Horsager says, "Without trust, the transactions cannot occur. Without trust, influence is destroyed. Without trust, leaders lose teams. Without trust, organizations lose productivity, relationships, reputation, talent retention, customer loyalty, creativity, morale, revenue and results." As he was studying top organizations and leaders, Horsager found that some had a clear advantage over others. "Those leaders or organizations that could weather storms, charge higher prices, maintain respect with customers and clients, and foster long-term growth were special," Horsager writes. "The greatest leaders and organizations of all time have had the same competitive edge. They were trusted.“ Happy Reading Prelude
- 8. The Trust Edge Horsager defines trust as To do what is right To deliver what is promised To be the same every time, whatever the circumstances He goes on to make this statement: “The trust edge is the competitive advantage gained when others confidently believe in you.” Trust is very important in almost every aspect of our lives. You should never invest in a business without being able to invest in the people behind it. Understanding the trust edge brings clarity
- 9. Trust is ….. A confident belief in a • Person • Product or • Organization
- 11. With greater Trust Comes greater Innovation, Stronger brands, Increased retention of good and potential people Higher morale & Multiplied productivity, & Bigger bottom-line . Trust –The Most Precious Resource
- 12. When People Trust a Company: 91% chose to buy from them 76% recommend them to a friend 55% will pay a premium to use them 42% share positive experiences online 26% bought shares Edelman 2009 Trust Barometer
- 16. Clarity Three Key Areas of Clarity: 1. Vision and Purpose – If you want people to trust you, they need to understand your purpose and your vision. If they don’t understand where you are headed, how will they know if you get there? 2. Expectations and Communications – How are you communicating your intentions? Have your expectations been made clear? These are both critical if you are going to get the buy-in and engagement you need to be trusted. 3. Daily Tasks – Do the things that you do every day align with your mission statement? This one is pretty straight forward. Do your actions match your thoughts? When they do, you increase trust. People trust the clear and mistrust the ambiguous
- 18. Compassion The Four Laws of Compassion 1. Listen – Do you ever find yourself answering a question before the other person has even finished asking it? I have. The importance of actually listening is huge. Let the other person finish their thought and you will validate them and build trust. 2. Appreciate – I love the question Horager suggests … “How many of you feel over appreciated?” People want to be appreciated. This validates them and builds trust. 3. Wake Up – We are so concerned about the future that we forget about the present. Wake Up and get the most out of NOW that you can. Today only happens once. 4. Serve Others – When we help others and develop a reputation of being unselfish, others will trust that we are looking out for them and are concerned about what’s important to them. People put faith in those who care beyond themselves
- 22. Character Two Sides of Character 1. Integrity – Horsager asserts that “Integrity is being consistent in thoughts, words and actions. Being consistent builds trust. 2. High Morals – Consistently doing “the right” thing is a great way to build trust. Regardless of the issue, people will know that you will make a good decision. People notice those who do what is right over what is easy
- 23. In the late 1980s, Whole Foods Market company chairman and CEO John Mackey set the pay ceiling for his executives at no more than eight times the pay of an entry-level employee. This ceiling has been raised a few times since then, but Whole Foods Company is one of the few international companies to have a pay ceiling at all. Amid high growth, it would have been easy for Mackey to demand a larger salary. Instead, he refused his stock option bonus, reduced his own salary to $1 per year, donated all his stocks to charity and set up a $100,000 emergency fund to be used by employees who were facing financial problems. Mackey set an example for his organization. He’s trusted, top to bottom, and has used that trust to spread a vision for greater impact in a stronger company. As a result, Whole Foods has grown from one store to more than 200, becoming the world’s largest organic retailer. You cannot argue with his impressive level of integrity and resulting success. Mackey has the trust edge. Whole foods , Whole Character
- 26. Competency Three Ways to Gain Competency 1. Join a Mastermind Group – I believe this is one of the best ways to build competency. A mentor of mine puts it this way “Hang out with people that believe what you do but think different thoughts.” 2. Read – Every leader is a reader. Continually exposing your mind to new information will build competency. People trust those with knowledge. 3. Get a Mentor – There will always be someone who knows more than you about any given subject. Many are willing to share their insights and experiences with you and help you along the way. People have confidence in those who stay fresh, relevant, & capable
- 28. Commitment This is my favourite pillar Before I even opened this book, I chose the word Commitment as my one word to focus . Over the years, we must have started many things and have to honestly say that way too many were never finished. We can point to all sorts of reasons why they didn’t get finished, but it all can be summed up in this way. We were not committed. When you take on a new project or responsibility, you better be sure of your level of commitment. The probability of success will be about the same. People believe in those who stand through adversity
- 31. Connection The first thing you better take care of when building trust is connecting with the person you are trying to build trust with. John Maxwell covers this when he says “People don’t care how much you know until they know how much you care.” Simply put, if you don’t connect with people so that they know you care, they won’t care about what you know and they won’t trust you. People want to follow, buy from, and be around friends
- 34. Contribution What are you giving back? How do you contribute to your family, your business or your community? If you want to build trust with people, they need to know that you value the things that are important to them. This can be done in a number of ways … time, money and resources to name a few. Think about this – can you really enjoy the things you have without having someone to share them with? Giving back, no matter how you do it, will result in building trust in those who are on the receiving end. People immediately respond to results
- 36. Consistency I think Horsager saved the best for last. Look at the other seven pillars. Can you be successful at any of them without doing them consistently? Consistency builds credibility and credibility builds trust. Follow-through on what you do and what you say and others will know that they can trust your motives, your words and your actions. People love to see the little things done consistently
- 37. Is this Consistency ?
- 39. Based in research but made practical and engaging for today’s leaders, Dave Horsager shows that trust is a measurable competency that brings dramatic results. CLARITY People trust the clear and mistrust the ambiguous. COMPASSION People put faith in those who care beyond themselves. CHARACTER People notice those who do what is right over what is easy. COMPETENCY People have confidence in those who stay fresh, relevant, and capable. COMMITMENT People believe in those who stand through adversity. CONNECTION People want to follow, buy from, and be around friends. CONTRIBUTION People immediately respond to results. CONSISTENCY People love to see the little things done consistently.
- 40. Trust Trust , not money, is the currency of business & Life Trust is earned & it is the unique characteristics of the most admired Leaders and Entrepreneurs People trust the clear & distrust the ambiguous We trust those who care & go beyond themselves- Moms are the ultimate role models Anyone say “Trust me” is typically not trustworthy- Trust is never spoken Model Character is simply being congruent with your thoughts, words & actions
- 41. Trust The competency pillar starts with humility- admitting what you don’t know. As trust in Leadership increases- so does Morale, Retention, Loyalty & Profits. To rectify a mistake-start with a genuine apology & make commitment you can keep. We trust courageous people, because it take courage to build and gain the Trust Edge
- 42. Mail your comments to ramaddster@gmail.com Ask yourself: Am I the same every time? Do I deliver the same quality ? Act with the same consistency? Speak with the same honesty all the time regardless of the circumstances or the people around me?