I found today’s guest, Sandra Sucher, through a book recommendation in the Wall Street Journal. A professor at Harvard Business School, Sandra has a fantastic story about how she became the co-author of her new book, The Power of Trust. In this episode, she opens up about how a trip to Japan to write one book on layoffs led her to write another very different sort of book. She and I talk about the hidden value of trust in a business and why it can’t be used as a reputation management tool. She also discusses why trust matters so much more in service-based businesses and why the Ritz-Carlton hotel chain is a great role model for businesses that are building trust with their clientele.
Listen in to find out why motives are so important when building trust and how trust affects your bottom line and increases profit margins.
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Trust is a willingness to be vulnerable to the actions and intentions of others.” – Sandra Sucher
- The Definition of what TRUST really is
- The 4 Elements to BUILDING Trust
- Trust & Competency – how they are related
- Why Trust is more DIFFICULT in a Service Based Business
- The Ritz-Carlton’s THREE STEPS of Service – GENIUS
- How Trust Directly Affects your BOTTOM Line – PROFITS!
Trust is a moral idea not just an instrumental relationship.” – Sandra Sucher
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If I had known that you could be in business and be a good person at the same time, that would have reassured me.” – Sandra Sucher