What is the one essential that you must attend to as a business owner or leader in 2017? [To learn more, check out this Insider, Your Leadership Success One Essential Every Business Needs]
It’s trust. Consider these facts:
- Companies with high trust make more money.
- Companies with high trust move faster and save money.
- Trustworthiness shapes both first impressions and sets the foundation for the relationship.
To those of you who are feeling uncertain where to begin building trust in your company, we are providing you with the first step. This ancient Asian proverb reminds us that
“The journey of a thousand miles begins with the first step.”
Or as a friend reminded me,
“The best time to plant a shade tree was 50 years ago. The next best time is today.”
Your journey begins with an accurate and honest assessment of the strength of the trust bonds within your company. Here is a free tool from American Business Advisors to help you get started:
Our Company’s Trust Quotient Inventory
Have each of your executive team members individually evaluate your company’s current “Trust Quotient” and then discuss as a team.
Rate each of the following statements on a scale of 1 (Strongly Disagree) to 5 (Strongly agree) and total your results:
- ____I make daily business decisions based on our company financial information.
- ____Our company confidently makes daily decisions based on information from our systems (CRM, ERP, etc).
- ____We have a low employee turnover rate.
- ____We have a highly engaged and productive workforce.
- ____Speed of execution is a competitive advantage of our firm.
- ____I regularly delegate important tasks to my direct reports/employees.
- ____My delegated actions are regularly done effectively and on time.
- ____Our company has a high percentage of repeat customers and referrals from customers.
- ____Our company is highly profitable (in the top 25% in our industry)
- ____I am currently developing someone within our company as my successor.
_ TOTAL SCORE
50-45 – Congratulations, Rock Stars, on the high trust company you’ve built!
44-35 – You’re almost there: what is the one area that you want to focus on now?
34 and less – Prioritize the top two areas that need your attention
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Our Company Trust Quotient Inventory Evaluation
At your next team meeting, take a few minutes to complete “Our Company Trust Quotient Inventory” and discuss your findings. Do the same thing at the end of the year as a part of your annual review and planning for the following year.
Tell us what you’re learning. Send your comments and questions to firstname.lastname@example.org