The fundamental goal of businesses is to make a profit. Statements like this have permeated business textbooks, dominated the strategic plans of companies and summarised the ethos of the corporate world essentially since it began.
Economics professor from Columbia University Joseph Stiglitz once said, “It is trust, more than money, that makes the world go around.”
Today, this is more true than ever.
Orienteering will always be one of my most vivid and fond memories of my days as a Scout - dropped in the middle of nowhere with a few buddies, the essentials, a map and a compass. One of orienteering’s most important lessons was learning to differentiate between magnetic and true north, adjusting our map and compass accordingly.
“The years ahead will see consumers value trust, whether it be in a brand, person or entity above price, promise or experience. Those who can gain and keep trust, through transparency and values-based offerings, will thrive.”
In 2017, I had the chance to meet a speaker and author I have admired since I was a teenager. Having read many of Dr John Maxwell’s 67 bestselling books, I was excited to see what the legendary man was like in person. Speaking to him backstage at a conference, I was struck by something he said and has said many times in his various books.
“Credibility is a leader’s currency,” he suggested, “With it, he or she is solvent; without it, he or she is bankrupt.”
“Our trust in technology has rested in a confidence that the technology will do what it’s supposed to do, nothing more, nothing less.”
“A business that makes nothing but money is a poor kind of business.” - Henry Ford