The Alabama Road Builder - Summer 2016 - 19
By Marco Carbajo
he most valuable business commodity is trust.
Richard Branson, author and founder of Virgin Group
says, "Building trust in your brand isn't easy to achieve
and it may take time, but it doesn't have to come at a high cost.
With honesty, ambition, hard work and attention to detail you
can instill a level of trust that will enable you to move forward."
The fact is that integrity impacts all aspects of business and is
among, if not the most important, character trait for a company
to have. It is the barometer by which your customers, lenders,
potential business partners and employees evaluate you and your
business. Trust in a business speaks volumes on how a company
services and communicates with its customers.
A trustworthy business can be defined many different ways
depending upon the person, business, or organization reviewing it. Here are five ways you can build trust in your business:
1. Deliver on your promises - Doing what you say you are
going to do when you say you're going to do it is crucial to
building trust. Famous entrepreneur and motivational speaker
Jim Rohn said, "One customer well taken care of could be
more valuable than $10,000 worth of advertising."
2. Have a solid reputation - Potential customers and business
partners will search for information about you and your
business online. According to a survey conducted by
Dimensional Research, 90 percent of respondents who recalled
reading online reviews claimed that positive online reviews
influenced buying decisions, while 86 percent said buying
decisions were influenced by negative online reviews. It's
crucial to manage your online reputation and establish an
active social media presence, website and blog.
The Alabama Roadbuilder * Summer 2016
3. Communicate effectively - Effective communication is the
cornerstone of any successful company. In today's fast paced
business world, having a range of communication channels
available such as phone, e-mail, instant messaging, fax, etc.
is key to maximizing your ability to communicate effectively
4. Stay in compliance - Staying up to date and compliant with all
federal state, and local rules required to keep your business in
good standing where it conducts business is essential. Failure
to meet the necessary requirements can cost you loss of good
standing, not to mention fines, penalties, reinstatement costs
and even business closure.
5. Creditworthiness - Lenders, potential business partners and
investors will check your company's credit reports. With
positive business credit reports and ratings with a credit
agency such as Dun and Bradstreet, a creditor can assess how
your company handles its financial obligations. "All of this
can be done by taking the initiative. Increased credit affords
businesses better relationships with partners, vendors, trade
sources and the community at large" says Jeff Stibel, CEO of
Dun & Bradstreet Credibility Corp.
Let this be a guide for you in building and maintaining
trust in your business. Integrity and credibility are invaluable business commodities. Take the time to study the habits
and behaviors of those businesses who have gained trust
in the business world. Adopt or adapt those that you can
authentically incorporate into your own behavior. With time
and consistency, you can build up trust and credibility for
your business in the marketplace.
Table of Contents for the Digital Edition of The Alabama Road Builder - Summer 2016
INDEX TO ADVERTISERS/ADVERTISERS.COM
EXECUTIVE DIRECTOR’S MESSAGE
HOW BUSINESSES CAN PREPARE FOR THE NEW OVERTIME RULE
SPRING FLING 2016 HIGHLIGHTS
ENGAGING OUR NEXT GENERATION OF INDUSTRY LEADERS
4 STEPS TO CHANGING YOUR BUSINESS STRUCTURE
5 WAYS TO BUILD TRUST IN A BUSINESS
PRODUCTS AND SERVICES MARKETPLACE
HEARD ALONG THE HIGHWAY
The Alabama Road Builder - Summer 2016