Trust – a Leader’s and Networker’s Currency

Published August 28, 2010

Trust – a Leader’s and Networker’s Currency

Trust is leader’s and a networker’s bankroll. With trust, he or she is solvent, without it, he or she is bankrupt.

A trusted networker, like a trusted leader, has a thick bankroll of crisp bills. Every time you act inconsistently with your professed values, or break a promise, you must spend some of those crisp bills – when the bankroll is gone, so is the trust that others have in you. At this point, your personal appeals or persuasive arguments cannot buy back that trust. Once lost, trust, and the personal credibility it took to gain it, may take years to regain.

Trust & Credibility

Trust is much more than credibility. Credibility is a necessary precursor to trust – before someone will place their trust in you, they have to believe in you. Trust is when a person places something of value to them into your care an stewardship because they believe that you will take good care and, usually, return to them something of greater value.

As a leader, the ‘something’ may be as obviously important as life – a military leader for example. It may be time or skills or an idea for a business leader. Whatever the situation, we place our trust in the leader. In turn, the leader trust you to deliver on your promise. The relationship is established beforehand, the leader’s credibility has been established and the result of this ‘transaction’ may reinforce or destroy trust.

In networking, the same rules apply. You might offer to introduce someone to a business opportunity. As the initiator, you must trust the person to be capable or risk your personal credibility and the trust your opportunity has in you. The individual you are introducing will also trust that you will genuinely do as you say and that it is a legitimate opportunity. Trust is a two-way street.

Establishing Trust.

1. Be honest and open The top leadership attribute of most admired leaders in Kouzes and Posner’s comprehensive survey is honesty. This isn’t just about telling the truth, it is also ‘doing what you say you will do’. And, it’s worth noting that honesty does not always imply that the truth is to your own liking nor the action something with which you agree.

Some networkers though fall into the ‘marketing trap’ – embellishing aspects of their business or person to such a degree that their honesty could quickly become suspect. It’s all very well having a fabulous 30 second ‘elevator pitch’ designed to intrigue and excite others though if it is too far removed from honesty, you may soon be dealing out some of those crisp bills from your bankroll.

Trusted leaders are open and transparent – particularly in this post-Enron world. The suspicion surrounding UK politicians currently has a lot less to do with their actual expense claims and a lot more to do with questions about why such claims should be so secretive. Openness also means being open to question. Your elevator pitch should (according to those far more expert in this) invite questions – your answers to those being a robust defense citing evidence that supports your pitch. Can you defend your elevator pitch?

2. Don’t hide bad news Northern Rock has suffered a major fallout, in part because the leaders hid the bad news (or the potential for bad news), possibly even from themselves. As the bad news leaked out, savers who had entrusted their money queued to withdraw it immediately. To regain some trust, the UK Government had to spend rather more than a few crisp bills from its bankroll.

Advertising of financial or pharmaceutical products now carry a warning of the potential downside or side effects (albeit in tiny print or spoken at a rate few amphetamine addicts would understand). Should our elevator pitch contain such caveats? It would be honest.

3. Don’t over promise Making promises you cannot keep? Why do politicians rate as the most untrustworthy of people? They promise the world and seldom deliver.

It’s a trap that many parents fall into. Talking to their kids about the exciting places they’re going to go and the fun they are going to have. From pimples – “you’ll grow out of it” to exhortions to study – “you’ll be able to do whatever you like when you graduate with honours”.

Networkers are prone to over promise – it’s considered perhaps an embellishment, a slight exaggeration or, the catch-all, marketing.

4. Walking the talk

Doing what you say you will do is probably the most critical component of trust. If any of the three points above are in doubt, there is little chance that you will be able to walk the talk.

How many times have you been to a networking event that ends in warm handshakes and empty commitments? When you

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