The 4 T's Of 'business Un-usual'
As increasing numbers of us have become more cynical than ever
, more critical than ever, and aware that it's significantly more competitive than ever, the level of trust we have in product and service providers has plummeted. Given the ever-expanding list of failed finance companies, apparently less-than-honourable senior executives and so-called professionals that turned out to be anything but, our levels of doubt and mistrust have soared.Many of us dont want businesses to go back to being usual. What we want is business UN-usual, particularly in terms of truth and trust. New Zealand business commentator Mark Di Sommas concept of Peak Trust is right on the button. Much like the concept of peak oil, Di Somma notes some sectors have reached and passed their highest levels of trust and that they can now expect trust to be harder to find and to cost much more to generate than it has historically.
'Peak Trust' affects all of us. As businesses and individuals, arguably the single most important quality we must have is to be trustworthy and the #1 responsibility we have as leaders and business owners is to engender trust especially amongst our customers, employees, investors, joint venture partners and others. There are no more second chances. These days its one strike and youre out. Increasing numbers of us want companies and individuals to demonstrate more:
- Truthfulness
- Transparency
- Trust and
- Thanks
The traditional 4Ps of marketing - Product, Price, Place and Promotion should not be ignored as they will continue to affect our selection processes. However, consistently demonstrating the 4Ts will give you a significant competitive advantage. We are crying-out for honourable businesses, and business-people, who deliver on their promises, make us feel both valued, and valuable, and genuinely care that both parties benefit. People do business with people and organisations they trust.
Far from being old-fashioned notions, these four Ts are the foundations upon which business and personal success in the new economy will flourish. Find ways of demonstrating them repeatedly in very real and meaningful ways and you wont need to worry about getting back to how things used to be. Youll be too busy serving the clients and customers that will be beating a path to your door. In the new economy, 'Most Trusted' wins.
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