trading on trust
By pa360, Jan 6 2015 06:04AM
Trust is the most precious and tangible of 'social commodities'. We all know it when we see it and we know it when we feel it. Our approach to trust is often contradictory. At times we extend lines of trust without even giving it a second thought and at other times we are cautious, deliberate and painstaking in our approach.
In the name of trust we enter planes, trains and automobiles, handover money to financial institutions for safe keeping and place our confidence in the logic of software to bring information to our finger-tips. Trust also fuels the economic activity of nations making it possible to trade, extend credit, attract investment and create wealth. Our levels of trust both great and small are driven by our belief. The greater the belief the greater the trust. Let's be clear, no-one knowingly hands over their worldly goods to a fraudster.
Trust is also dynamic. It knows no distance and no borders and operates across cultures and demographics. To a lesser or greater extent, our entire lives are mortgaged on trust.
Now, transpose this image to yourself. A high-performing personal economy and a strong personal brand generates trust. The stronger your brand the greater the trust. But there is also another angle to this, which is that people who trust us (whether friends, relatives, employers or those we may not even know) are essentially our investors and shareholders.
These people who may or may not know us, invest and hold a stake in our brand, in anticipation of an outcome. They do so in much the same way as one who buys shares in publicly listed company, expecting a return on their investment. Just as one would not buy junk stock, neither would many willingly place their trust in a low value or junk brand.
Trust, therefore is the dividend of a high-performing personal economy and strong brand. To acknowledge this is to better understand how 'social commodities' affect our lives and use this insight to navigate a clearer pathway to the market-place of opportunity.