I had a client call the other day, and we were talking about his company culture. He was telling me about his company core values and how he has worked so hard on developing a culture that he is proud of. Then, out of the blue, my client asked me “Do you have a trust fund?”
I was quite taken aback by his question. I quipped back “Isn’t that a bit personal?” He laughed out loud and said “I’m not talking about money, Beth. I am talking about trust.”
My eyes opened wide, and I said to him “Tell me more!”
He said to me, “Think about it. Trust has to be earned. Trust has to be built. If you have a trust fund with your clients, your employees, your vendors, then you have a bit of leeway if you make a mistake.” I have spent the last 2 weeks thinking about the concept of a trust fund, not being about money, but about trust and faith that you have in your relationships.
This concept is especially helpful when you are talking about your employees. Employees want to be at a business where they are valued, where they feel heard, where there is transparent leadership. In other words, where they can trust the powers that be. If you as the leader focus on building a trust fund, your staff will be more forgiving when you make a bad call.
I told my client that I felt like I had a trust fund with my clients already in place, and I am going to make sure that it is healthy and thriving. After all, there doesn’t seem to be anything better to focus on than that.
POWER THOUGHT: If you don’t have a trust fund in your business, I recommend building one as soon as possible. Trust me on that!