Can you be trusted?
The 8 Essential Elements Of Trust In Business
Shut your eyes, just for a moment. Imagine a world where you trusted everyone. What would be different? Cars would be permanently unlocked. Windows left wide open. If someone told you they were going to do something, you could rely on them – entirely. No need to check up. If you asked for feedback, someone would give it to you straight. Life would be so much easier. And you wouldn’t waste time and energy second-guessing whether people had told the truth.
Trust is one of the fundamental building blocks of successful companies. And yet, it’s often overlooked. When businesses start, they’re usually run by a small group of ‘A-Players’. They don’t need systems. Everyone knows what everyone else is doing, and they’re moving at pace – like a special forces team. As the company grows, rules and systems are often introduced. Why are they needed? Because a lack of trust has started to creep in. People have stopped doing the things they said they were going to do.
This is corrosive and needs to be tackled – fast. It’s the root of many problems. You may think you have an issue with sales but, assuming your product is well positioned, it may be because you’re not trusted. Your salespeople turn up in front of customers, but they’re not coming over as believable or trustworthy. Or you may have too many ‘diminishers’ in your business. According to Liz Wiseman’s book, ‘Multipliers’, 70% of people are unknowingly diminishing those around them. This may be unintentional, but it all boils down to a lack of trust and understanding.
In a recent conversation with David Horsager for the Melting Pot podcast, we delved deeply into the nature of trust. He’s dedicated most of his life to researching this topic, and I love his empirical, evidence-based approach. His new book, ‘The Trusted Leader,’ is a great ‘how-to’ for CEOs and business leaders looking to build trust in their organisations. And his model is more nuanced than any I’ve used before in my coaching. David’s a man who likes his alliteration. According to him, there are eight pillars of trust – and they all begin with ‘C’!
Improving Productivity By Creating A Network Of One Person Businesses with Andrew Holm & Julian Wilson
If you’re the owner of your business and you’re keen to improve productivity, or you want your business to run 200X better when you’re not there, why not get your employees to step up, not step back, from the challenge of running the business as efficiently as you do.
Don’t miss Andrew Holm and Julian Wilson of Matt Black Systems on this week’s episode. Some of the challenges that they’ve solved are probably some of the challenges that your business is facing today.
Andrew and Julian turned their business around by whittling the organisation down from 30 people to five over two years and dissolving the former hierarchical business model and creating a network of one person businesses.
The result? Two employees now produce the same turnover each year as 30 people used to do.
They spent £250m trying to improve productivity by implementing lean and then agile processes, but every time the consultants left, the business reverted back to how it operated before the change.
So they decided to change some stupid rules, triggering an awakening in their employees, encouraging their employees to think for themselves:
“On a roundabout, every car has a controlling mind in it. In a traffic light, there’s only one controlling mind.”
This episode is slightly longer than normal, but it’s worth it. Julian and Andrew explain, in detail, precisely the experiments they undertook to create their current business model. This is an absolutely fantastic conversation.
True stories with unbelievable characters. Brought to you by amateur historians and professional brothers.
The legend of Steve Jobs is that he transformed our lives with the strength of his convictions. The key to his greatness, the story goes, was his ability to bend the world to his vision. The reality is that much of Apple’s success came from his team’s pushing him to rethink his positions. If Jobs hadn’t surrounded himself with people who knew how to change his mind, he might not have changed the world.
As we enter into the second year of the Covid-19 pandemic, frontline public sector workers such as healthcare professionals, teachers, and social workers are under more strain than ever. At the same time, organizations in every industry are being forced to downsize and restructure, meaning they’ve got less cash in the bank to support an increasingly burned out workforce. In these trying times, what can managers do to keep their employees motivated?
Research has shown that firms with more women in senior positions are more profitable, more socially responsible, and provide safer, higher-quality customer experiences — among many other benefits. And of course, there is a clear moral argument for increasing diversity among top management teams (TMTs). But when it comes to explaining why having more female executives is associated with better business outcomes, and what specific mechanisms cause those positive changes, existing research is much more limited.
A lack of trust is your biggest expense, says Wall Street Journal bestselling author David Horsager. Without trust, transactions cannot occur. Without trust, influence is destroyed. Without trust, leaders lose their people. Trust can be either your most vulnerable weakness or your greatest asset. Horsager introduces readers to his Eight Pillars of Trust through the journey of a senior leader who thought success was certain. Follow CEO Ethan Parker as he discovers the power of trust and how to apply it amid the complexities of leadership, change, and culture transformation. The Eight Pillars of Trust (Clarity, Compassion, Character, Competency, Commitment, Connection, Contribution, and Consistency) are based on Horsager’s original research and extensive experience working with Fortune 500 companies and top government agencies around the globe. In addition to the business parable, this book is rich in practical advice for implementing each of the Eight Pillars. You will learn strategies to increase alignment, overcome attrition, and get absolutely clear on executing your top priorities. Horsager offers a road map for how to become the most trusted expert in your industry.
Are you solving the right problems? Have you or your colleagues ever worked hard on something, only to find out you were focusing on the wrong problem entirely? Most people have. In a survey, 85 percent of companies said they often struggle to solve the right problems. The consequences are severe: Leaders fight the wrong strategic battles. Teams spend their energy on low-impact work. Startups build products that nobody wants. Organizations implement “solutions” that somehow make things worse, not better. Everywhere you look, the waste is staggering. As Peter Drucker pointed out, there’s nothing more dangerous than the right answer to the wrong question. There is a way to do better. The key is reframing, a crucial, underutilized skill that you can master with the help of this book. Using real-world stories and unforgettable examples like “the slow elevator problem,” author Thomas Wedell-Wedellsborg offers a simple, three-step method – Frame, Reframe, Move Forward – that anyone can use to start solving the right problems.
MEANINGFUL ACTION FOR MONDAY
Get your team together, in person
There are too many incompetent men in leadership positions – in large part because businesses tend to promote people on the basis of charisma, confidence and even narcissism. Instead, companies should be putting people in charge who demonstrate competence, humility and integrity.
“Working Together” for the greater good is needed more than ever around our world as we all really know. Join top Scaling Up partners from around the globe for our second Scaling Up+ Summit of the year. These leading CEOs and Authors will share actionable insight focused on your people and culture to ensure a prosperous 2021. Outthink competition with 3 keynotes in 90 minutes.
A special workshop presented by Justin Roff-Marsh (author of The Machine) and hosted by Dominic Monkhouse at Foundry Farm near Salisbury. Join 21 of your peers (owners and senior executives from mid-sized businesses) and design a simple (but detailed) plan to expedite the growth of your organization.
Quote of the week
“Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.”Stephen R Covey
Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.