Category: Business Insights

A business leader’s ability to inspire and motivate their employees is based on trust and security. When people trust a business, they feel confident in the business owner’s decisions and suggestions and even during times of uncertainty, the business owner’s leadership will influence them. That is because they trust you and they expect you will follow through with what you have said you will do. Taking key steps to creating an environment of trust and security in the workplace is essential to the success of any type of business.

Ensuring that your words are in alignment with your actions is key in building trust and security in the workplace. Research indicates that employees say that what leaders say and do is what has the most impact on their perception of the organization they are employed with. When there is a disconnect between an organization leader’s words and actions, staff members are less likely to become engaged and remain committed to the organization. Actions matter more if you want to earn the trust of employees and keep them engaged. Starting with the leader, it requires the involvement at every level of the organization in order to create a deep bond of believability that motivates the employees to put forth the effort that is needed to make the business a success.

Key Steps to Create an Environment of Trust and Security

Understanding the Necessity of Trust

The first key step to creating an environment of trust and security in the workplace is acknowledging that building trust takes hard work and focused efforts. Trust has to be earned and it comes from conscious effort to follow through with what you say you will do.

The next key steps to creating an environment of trust and security in the workplace are to be honest and supportive. Even when it is difficult, you must tell the truth and not just when it relates to things you know people want to hear. Make every effort to understand what employees need to know and communicate facts clearly while being considerate of their efforts and while being reasonably sensitive to their feelings. Showing support for your staff and your team members, even when mistakes are made, goes a long way as it pertains to building trust as the leader of an organization.

Demonstrate Sincere Commitment

Committing to follow through is another of the key steps to creating an environment of trust and security in the workplace. Saying you will do something is only worth as much as the follow through. If there is a chance that you will not be able to deliver, then do not commit to something. Failing to follow through on your word can destroy the trust that has been built and make people less inclined to trust you again in the future.

Consistency is also critical when discussing key steps to creating an environment of trust and security in the workplace. Consistently following through with what you say you will do builds trust over time. It can’t be something that is done on occasion. It must be consistent. Keeping commitments must be at the very center of your behaviors, in all relationships, on a daily basis and year after year in order to build and maintain the trust of your team members.

Leading by Example

Leading by example is another of the key steps to creating an environment of trust and security in the workplace. Nothing is more representative of the culture of an organization than the behavior of the leader of it, who has the most influence with regard to employee action and influence on driving their results. If you say that teamwork is important, then reinforce that point by collaborating across individual teams within the organization and across various functions of the organization. It is also important to give credit when team members do great work and you will set the stage for a very appreciative culture by recognizing their efforts.

Building accountability is also a critical component. When you and other leaders of organizations acknowledge your errors as well as your successes, employees see you as credible and will follow your lead. You can best encourage honest dialogue and foster accountability within the organization by building in processes that become important aspects of the culture, such as evaluation of projects (positive attributes, as well as negative ones and elements that need modification) and next steps in meeting agendas to help track deadlines and milestones.

Following these key steps to creating an environment of trust and security in the workplace will help to improve morale and, ultimately, help to guarantee a business’ success.

To trust others and to inspire trust in others is a top trait to look for when finding a leader for your team. It’s not an easy thing to learn; it is dependent on the ability to stabilize a precarious scale that can easily tip in one direction or another. For example, those that are too trusting can get duped very quickly, and those that don’t trust enough will lose the faith of those around them. Even great leaders have lost the trust of their followers at one time or another. However, the key is to know how to gain that trust back.

Personality Traits for Leadership

Many different personality traits make up a great leader. However, trust is among the most important. If you can get the handle of balancing trust just right, then you can become an inspiring leader.

The Importance of Trust

The first thing that a successful leader must do is be trustworthy themselves, which means that they must be able to inspire those around them to trust them. Being known as an honest person can help with difficult situations, especially in the event a crisis needs to be remedied at work.

Another aspect of gaining trust at work is that trust works both ways. Everyone around you won’t trust you until you believe in them yourself. You may have the reputation of a trustworthy person, but that is shot if you begin to show to your team that you do not trust them to make decisions or work on certain things. Managers who behave in this way are often overworked because they don’t believe in anyone enough to lean on them when the person in management has been given too much work for them to handle on their own. When a manager doesn’t trust his team enough to lighten his own workload, then he will become drained and begin to victimize himself. When a manager refuses to trust his employees with tasks, the work environment can start to tip unfavorably. The employees will become lazy or demoralized.

A More Effective Team

Leaders who can inspire trust will be much more successful. These people have an understanding of how to organize their work and strategize what is placed in front of them. They know their team members’ strengths and weaknesses which means they can delegate work tasks accordingly. These managers are well-liked by their teams because no one is afraid to approach these people with a problem. They feel like their voice is heard and that inspires workers to be more outspoken and excel faster since they are more comfortable at their job. Managers who trust others also learn about those that they work with. With knowledge of everyone’s abilities, these managers create the most cohesive teams. And the bottom line is that managers who inspire confidence and trust help build morale throughout the entire company.

The fine line between trusting and going overboard is thin, and those in managerial and leadership positions should be conscious of this. When a leader trusts their employees too much, the employees will often see how much they can get away with under this leader. All leaders must still do their due diligence in spotting the moments when an employee will take advantage.

Keep a lookout for managers and leaders who put too much intention behind being well-liked in the office. A manager must maintain a delicate balance between likability and being dominant.

When looking for types of managers who would excel in a leadership position, always look to those who are trustworthy and inspire trust. It is essential that the people you choose to lead your company are balanced and honest. These people must also be aware that trust can be broken. Again, it is all about balance when choosing the right leader for your company. They must understand that the reality is that although they might be a trustworthy individual, that does not mean that every person around them is as well. You must be able to decipher between giving someone the benefit of the doubt and letting them get away with something.

Starting a new business is an exciting venture and a constant learning experience. Undoubtedly, there will be lessons learned and mistakes made along the way. Still, there are rules every new business owner should follow, regardless of their industry.

Read on to learn five important things to know when starting a business.

You Need A Business Plan

This is first in the list of important things you need to know to start a business because it will be the foundation of your decisions and success. You know you will start a business, but your business plan will give you a specific outline of deadlines you need to hit, financial goals, and advertising strategies.

Some new business owners think a business plan is only necessary for financial support from outside sources, but this isn’t the case. A business plan is an invaluable tool that helps you sort out the big and small details that, if overlooked, could be detrimental to your business. Your business is your passion. Analyzing that passion strategically keeping financial projections in mind will strengthen with your branding.

Word Of Mouth Will Always Be Valuable

While various forms of advertisements are effective, word of mouth will never lose its popularity or value. This is one of the most important things to know when starting a business because people trust the word of people they know personally.

We all see up to 5,000 ads daily aimed at influencing our purchasing decisions. This constant exposure to advertisements means that businesses must be creative and show the human side of their brand.

If you use traditional ads, compliment them with behind-the-scenes stories, user-generated content, or vlogs. You could also share customer testimonials to prove the positive impact your business has on customers and in your market.

You Must Evolve With The Market

As a new business owner, you shouldn’t feel compelled to know it all from the start, but it is important to know the basics and to keep up with the ever-changing landscapes of business and technology.

When you’re starting a business, you can’t live in the past. Tactics that worked in 2015 may not be effective today. The business world is fast-paced and marketing strategies are always changing to meet the desires of customers. Research your industry frequently to learn the latest trends works so your business won’t be stagnant or left behind.

Remember these key pointers:

• Keep your website updated
• Invest in digital marketing
• Make sure you have the right tools to keep you and your team organized
• Use reliable phone services and email to stay in contact with global customers

Pick A Niche You Enjoy

There are numerous reasons to attribute to the fact that 50% of small businesses fail after 5 years. One of those reasons is burnout for solopreneurs. But this burnout doesn’t always occur because there’s too much to do it in too little time.

Burnout sometimes happens when new business owners enter a niche for the money or convenience without enjoying the work. One of the major benefits of owning a business is doing what you love while serving as a valuable resource for customers.

Here’s another important thing to know when starting a business. Is the industry you’re entering personally fulfilling? Before starting your business, take the time to find out what you would love doing every day and dedicate yourself to making that business a reality through your business plan.

Make Things Convenient For Customers

There are many things that can make a business unrelatable, such as confusing messaging, inconsistent branding, or poor customer service. Your business will not be successful if people can’t relate to you.

If your business becomes known for poor customer service, it’s unlikely that you will continue to profit. Avoid this by letting your business be a safe space for customers to express their concerns and issues without hassle or long delays.

Of the most important things to know when starting a business is that having a virtual phone number can give you a competitive edge. A virtual phone number allows you to work from remote locations while retaining full communication with your associates and clientele. Remember: you and your team should be should be knowledgeable and patient to provide solutions that add value for customers.

Also, recall that one of the most important things to know when starting a business is word of mouth marketing. Customers always appreciate quality service and are more likely to give personal referrals. This will help your small business to grow quickly.

Delegate Tasks Accordingly

Scalable solutions are important for every business. Being a new business owner means your business won’t stay the same size as you implement strategic growth methods.

As your business gets bigger, you won’t be able to handle everything without support. Everyone you hire will serve as a representative of your brand. Therefore, it’s imperative to establish a team with the same vision and work ethic.

As we conclude the list of important things to know when starting a business, we recommend automating small, repetitive tasks and allowing trusted staff members to use their innate skill sets to contribute to the company’s success.

In these days of rapidly changing, competitive business markets, customer retention is crucial to business success. The way you treat your customers, could, in fact, be one the of the key factors which differentiate you from your competitors. Here is a rundown on some of the best strategies for keeping your customers close no matter what type of business you run.

Reward your customers: Loyal customers deserve something in return. Send them a gift, offer them a discount, make purchasing with your company a continuously pleasurable experience. If they are business owners, give them a lead.

Use their services: If your customers are business owners too, use their services or buy their products. This is a great way to build loyalty.

Show your thanks: Make sure you show your appreciation to loyal customers by sending them a thank you note on a regular basis.

• Be prompt: Don’t beat around the bush when it comes to returning calls. Call your customers back as soon as you can.
• Be true to your word: Don’t make promises you can’t keep. If you state you’re going to do something, do everything possible to follow through.
• Don’t be tardy: Always do something when you said you were going to do it. If, for some reason, you can’t stick to the arranged schedule, let your customer know as soon as possible.
• Be accessible: Show your customers that you are always available if they need to communicate with you. You should always be open to meeting with your customers if they wish to see you.
• Be trustworthy: It’s important that you establish your credibility straight away. Otherwise, potential customers will drift over to your competitors.
• Stay in touch: Bear in mind that your best customers are the ones you have now. Don’t take them for granted. Stay abreast of their wants and needs.
• Be able to apologize: Sometimes things unavoidably go wrong. Always be ready to apologize but saying sorry isn’t enough. Have a gift you can send to customers when you make a mistake.
• Make business a pleasure: Make it easy and pleasurable for your customers to do business with you. Make sure your business practices are for the convenience of the customer, not just your own. The more enjoyable it is for customers to do business with you, the more business you will have.
• Get to know your customers: A great way to do this is to set up a customer advisory team. The team can collect and collate information about your customers’ needs and wants so that you can develop a more customer-oriented business.
• Be a solid resource: Whatever your customer needs, make sure you can get it. This applies even if it is something unconnected to your business.
• Speak your customers’ language: Don’t fall into the trap of using jargon or terms that your customers will not understand. Keep things simple without talking down to them.
• Maintain a good attitude: Always be kind and patient with your customers, this will increase customer loyalty. Never be indifferent towards them.
• Maintain a mobile state of mind: Remember, these days, customers interact with businesses on mobile devices more frequently than ever. Make sure that you provide your customers with a positive mobile experience.
• Offer limited time promotions: This is a good way to keep customers coming back, especially if you’re discounting products that they buy frequently. You can highlight promotions at the checkout stage.
• Stay social: Social media offers unique platforms for staying in touch with your customers. You can keep them posted about sales and special offers, as well as new products and services. You can also get feedback from them.
• Engage relevantly: Your company must be able to engage relevantly with your customers. Otherwise, your brand will be letting you down. For example, in the case of cart abandonment, you can send a follow-up email to encourage the customer to complete the purchase and also set up recommendations for future purchases.
• Celebrate occasions: Don’t just celebrate holidays with your customers, try to find out when their birthdays are, even if you are in different parts of the world. Mother’s Day and Father’s Day are also good times of the year to send a personal note if your customers are parents. As well as a note, a gift card is a nice sign of appreciation.
• Create a VIP program: Achieving status can be a big motivator for customers. A VIP program enables customers to collect loyalty points and use them to get special offers. Because buying products increases customer rewards, your customers will do business with you more often; they are more likely to shop.

Developing close relationships with your customers is something you should be thinking about 24/7. There are many opportunities for you to strengthen the bonds between new and existing customers. It’s good for business, and it’s good for morale. Try these tips, and you can’t go wrong when building a strategy that keeps your customers as the top priority.