Business relationships that are built on trust are to be stronger, to survive the challenges of time, and to be much fruitful for all sides. The power of eternal (among the team and the co-founders) and external (among customers, clients, and partners, the investors and advisors) business relationships that are driven by the mutual trust is indisputable.
But how can we build such relationships? And, even more importantly, how can we re-build them once the trust has been compromised?
“If we can learn to trust one another more, we can have unprecedented human progress.” Frances Frei
Harvard Business School professor Frances Frei gives answers to these questions in her TEDxTalk dedicated to trust. She talks about three specific things that apply to trust – authenticity, logical rigor, and empathy. According to Frei, when all these three things work together, we have established great trust. Trust is threatened when any one of these trust pillars is shaken, which can lead to damaging the strong trustworthy-oriented relationships.
This TED Talk is a crash course on the importance of trust – a must-watch for entrepreneurs, who are working on building long-lasting companies that stand out with great company culture and have vision and mission that aim to create a business that stands out from the rest.