Building trust within your Organization – SMEs
Trust is an essential virtue that when established and maintained can lead to a firm and strong relationship that would not only spur growth and development to business but also to family members and friends. While it may not be easy to start and maintain, trust is a building block for prosperity that business owner should never think of overlooking it.
For small businesses to grow and prosper as outlined in their business plans, trust is crucial for the business partners working together and also for the stakeholders who work together to deliver daily, as well as to the business target audience. Unfortunately, SMEs usually overlook the need of effective communication and trust building in the hope that their few numbers will let them deal as the issues arise. This is not the case for many businesses, since the issues dragged under the rag eventually become a toxic culture that repels the clients and potential new recruits.
In this article, we outlay some of the basics of trust in a small and medium enterprises within Kenya and the region at large.
1. Earn it
Trust is not given for free and it is important that SMEs to devise all strategies possible to earn it. Mr. Peter Ndegwa, CEO of Safaricom, the leading telecommunication company in East Africa, says that it is important to prioritise trust and that way, you will be conscious of your actions and perceptions of your partners towards your actions. For instance, once you take your partner for granted you will compromise the trust your partner had in you and that will negatively impact the trust the partner had in you.
2. Keep your promises
Before you started your business you may have sat with your partners and agreed on how you will be doing your business. You had promises that you kept for each other and it is indeed that important to keep it to the latter. It is upon the fulfilment of these promises made at the inception of the business that will build and maintain trust among the partners. Also, SMEs trust with the client is equally important since trust does not only build trust for the organization but also the brand loyalty for the SMEs. 80% of SMEs that have built trust are those that have kept their promises to both business partners and clients.
3. Communicate openly and frequently
55% of successful SMEs have its trust premised on effective communication within the organization between the business partners. Experts say that communication between partners should be openly and frequently conducted. Further, he affirms that communication that can build trust within organization should always be face to face so as to eliminate chances of misinterpretation of information relayed through a diversified communication channel.
4. SMEs owners should be vulnerable to their partners
SMEs managers should be real with their partners and that means sharing their secrets with them. The ultimate definition of trust is premised on truth and openness. Practically, 55% of partners consider working with business owners who are open and do not hide things from them. Being open to your business partner will not only build trust in your organisation but also the brand you offer to the clients and thus expanding your client base.
5. SMEs owners should learn to forgive
Human beings are prone to error and mistakes or conflicts are bound to happen in business relationship. Only partners with hearts of forging are privileged to maintain the already established trust, as a business owner you may have conflicting interest with your partner but do not let it tarnish the trust you build for year.
We believe that trust is built over time, and there is no way complete strangers will trust themselves into a business and succeed. At CrystalPerk, we have tool kits and training materials to help business leaders navigate through various challenging communication and trust related issues. Our experienced team has helped various organisations to successful manage their business while building trust and opportunity for their clients. Get the best of CrystalPerk to your inbox by contacting us through or subscribe to our weekly and monthly papers.
There are no commentsAdd yours