www.marejournal.com Mid Atlantic Real Estate Journal — Owners, Developers & Managers — June 28 - July 11, 2013 — 15C S AFETY /S ECURITY & C ONTRACTORS /S UBCONTRACTORS
By Glenn Ebersole, P.E., Hollenbach Construction, Inc. The strategic importance of trust in business
I
n the world of business today, trust is more im- portant than ever, espe-
chosen five (5) to present in this article. A first level of trust is trust in technical compe- tence and know how. Clients and customers are looking for someone whose level of competence inspires trust. A statement like “Just trust me!” is woefully inadequate in today’s world. There is an obligation and a duty for you to provide explanations that are clear and concise and not overly simplistic.
A second level of trust is trust in ethical conduct and character. Your reputation is paramount and your honesty and integrity must be impec- cable. A third level of trust is trust in your interpersonal skills and relationship. You must ensure that your clients and customers believe that if they tell you something about themselves, their busi- ness or any sensitive infor- mation, you will handle it
with the utmost respect and confidentiality. A fourth level of trust is trust in you being transpar- ent and open in your busi- ness relationship. A lack of transparency will make you much more vulnerable to damaging your business relationship. Afifth level of trust is trust in you being a “person of your word” and holding yourself accountable in all actions within your business rela- tionships.
How many levels of trust have you achieved? Your answer will greatly influence and impact your business! Glenn Ebersole is the Strategic vice president, business development/ marketing at Hollenbach Construction, Inc., an award winning profes- sional design/build, con- struction management and general contracting organization headquar- tered in Boyertown, PA. ■
cially when it comes to your rela- t i on s h i p s with your c l i e n t s , customers, e m p l o y - ees, and all stakehold- ers in your
Glenn Ebersole
business. But what do we mean by trust. Webster ’s dictionary defines trust as the assured reliance on the character, ability, strength, or truth of someone or some- thing. I firmly believe that trust is right at the founda- tion of the survival and suc- cess of any business. Without trust there can be no sustain- able business. Trust is a stra- tegically critical issue in any type of relationship because a relationship without trust is not really a relationship at all. Over the long-term, busi- ness success is dependent upon a network of positive relationships. Trust is in- variably the critical compo- nent in enhancing business relationships. The moment a person is not trusted by an individual or team, their chances for success within that group are diminished dramatically. Working relationships that have been built on trust are an important sustainable competitive advantage be- cause trust is so valuable and so rare. The level of trust a leader is able to achieve with his or her associates is con- tingent upon the associate’s perceptions of the leader’s ability, honesty, and integ- rity. A study was conducted to determine whether trust could be a source of com- petitive advantage. That study showed that trust is significantly related to sales, profits, and turnover. The study also concluded that the ability of a leader to earn higher trust from his or her employees likely creates a competitive advantage for a firm over its rivals. There are certain com- ponents of trust that every client, customer or other stakeholder in your business looks for in doing business with you. There are several levels of trust and I have
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