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© Trusted Advisor Associates LLC, 2011 all rights reserved
Defining Trust
© 2011 Trusted Advisor Associates LLC. All rights reserved.
3
Questions I’ll Answer
• How can I get people to trust me?
• How can I get my advice taken?
• The biggest drivers/killers of trust?
• How to manage risk and trust
• H2 create a trust-based organization?
© Trusted Advisor Associates LLC, 2011 all rights reserved
Defining Trust
© 2011 Trusted Advisor Associates LLC. All rights reserved.
4
Books TRUST: THE BASICS
© Trusted Advisor Associates LLC, 2011 all rights reserved
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Trust-based Relationships
Copies of slides Five articles:
• 75 Ways to Build Client Trust • My Client is a Jerk • The Paradox of Trust-based Selling • The Point of Listening
Trust Matters blog
www.trustedadvisor.com/tccn
© Trusted Advisor Associates LLC, 2011 all rights reserved
Defining Trust
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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What is a Trusted Advisor?
© Trusted Advisor Associates LLC, 2011 all rights reserved
Defining Trust
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Defining Trust
© Trusted Advisor Associates LLC, 2011 all rights reserved
Defining Trust
© 2011 Trusted Advisor Associates LLC. All rights reserved.
8
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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The Trust Equation
C + R + I S
T trustworthiness
C credibility
R reliability
I intimacy
S self-orientation
T =
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
10
Truthfulness
Credentials
I can trust what
she says about…
Dependability
Predictability
I can trust him
to…
Discretion
Empathy I can trust her
with…
Actions Security Focus Words
Credibility Reliability Orientation Intimacy
I can trust that
he cares
about…
Motives
Attention
Four Factors of Trustworthiness
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
11
About the TQ
• Developed by Charles Green from the Trust Equation
• Taken by over 12,000 people to date
• A trustworthy indicator of trustworthiness
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
12
Taking the TQ
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
13
Your Trust Quotient
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Your Trust Quotient
N = 12,857
Median skewed left: 3 x S
All TQ Respondents
Avg. TQ Scores: World 5.7
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
15
A Quick Quiz
Whom can you trust?
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
16
Trust By Gender A NON-TRIVIAL DIFFERENCE
79.6 80.7
70
75
80
85
90
Gender
TQ
Sc
or
e
Men
Women
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
17
Trust by Age
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
18
Trust by Age STRONG CORRELATION
70
75
80
85
90
0 20 40 60 80
Tr
us
t Q
uo
tie
nt
Age
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
19
Your Trust Temperament™
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
20
What’s in a Temperament?
• Two strongest factors = your Trust Temperament™
• Based on your self-assessment, because it’s your innate preference when it comes to building trust
Temperament C R I S
Expert ✔ ✔
Catalyst ✔ ✔
Professor ✔ ✔
Doer ✔ ✔
Steward ✔ ✔
Connector ✔ ✔
TOP TWO SCORES
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
21
The Expert (CR)
―Lead, follow or get out of the way.‖ – An Anonymous CR
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
22
The Doer (RI)
―As for accomplishments, I just did what I had to do as things came along.‖ – Eleanor Roosevelt
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
23
The Catalyst (CI)
―A genuine leader is not a searcher for consensus but a molder of consensus.‖
–Martin Luther King, Jr.
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
24
The Professor (CS)
―The important thing is not to stop questioning. Curiosity has its own reason for existing.‖ – Albert Einstein
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
25
The Steward (RS)
―My goal wasn’t to make a ton of money. It was to build good computers.‖ – Steve Wozniak
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
26
The Connector (IS)
―It’s not what you know, it’s who you know.‖ – An Anonymous IS
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
27
The Six Trust Temperaments: Distribution WORLD DISTRIBUTION
Temperament World
CR Expert 31%
RS Steward 21%
RI Doer 17%
IS Connector 13%
CI Catalyst 10%
CS Professor 8%
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
28
The Six Trust Temperaments: Distribution WORLD , BIG 4
Temperament World Big 4
CR Expert 31% 41%
RS Steward 21% 20%
RI Doer 17% 21%
IS Connector 13% 8%
CI Catalyst 10% 2%
CS Professor 8% 8%
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
29
The Six Trust Temperaments: Distribution WORLD , BIG 4, CONSULTING FIRM
Temperament World Big 4 Consulting
CR Expert 31% 41% 46%
RS Steward 21% 20% 22%
RI Doer 17% 21% 16%
IS Connector 13% 8% 4%
CI Catalyst 10% 2% 6%
CS Professor 8% 8% 6%
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
30
Temperaments: Effectiveness vs. Distribution WORLD EFFECTIVENESS N=12,857
Temperament TQ Score
RI Doer 80.6
IS Connector 80.4
CI Catalyst 79.9
RS Steward 79.7
CR Expert 79.1
CS Professor 79.1
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
31
Temperaments: Effectiveness vs. Distribution WORLD EFFECTIVENESS, WORLD DISTRIBUTION
Temperament TQ Score
World Distribution
RI Doer 80.6 17%
IS Connector 80.4 13%
CI Catalyst 79.9 10%
RS Steward 79.7 21%
CR Expert 79.1 31%
CS Professor 79.1 8%
© Trusted Advisor Associates LLC, 2011 all rights reserved
THE Trust Equation
© 2011 Trusted Advisor Associates LLC. All rights reserved.
32
Temperaments: Effectiveness vs. Distribution WORLD EFFECTIVENESS, WORLD/ CONSULTING DISTRIBUTION
Temperament TQ Score
World Distribution
Consulting
RI Doer 80.6 17% 16%
IS Connector 80.4 13% 4%
CI Catalyst 79.9 10% 6%
RS Steward 79.7 21% 22%
CR Expert 79.1 31% 46%
CS Professor 79.1 8% 6%
© Trusted Advisor Associates LLC, 2011 all rights reserved
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Trust AND Influence
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
37
What We Think About How We Think RATIONAL, DEDUCTIVE, LOGICAL
Facts
Logic
Truth
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Are Ordinary People Rational?
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
39
Are Judges Rational?
Does it matter what judge hears your case?
Does it matter how the judge is feeling today?
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Are Professionals Rational?
How much do US pharmaceutical companies spend on ―medical education‖ ?
Doctors: ―They can’t buy me with laser pointers and monogrammed pencils.‖
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
41
Cialdini on Influence
The number one factor of influence:
Reciprocity
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
42
The Doctor’s Story
A pain in my left shoulder…
• If you listen to me, I will listen to you…
• If you don’t listen to me, I will not listen to you
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
43
―The most pervasive and hardest sales problem? Premature solutions. The mistaken belief that the sooner they can begin solving the problem, the more effective they will be.‖
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
44
Suicide Hot Lines
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
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Thomas Friedman on Listening
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
46
Thomas Friedman on Listening
―People often ask me how I, an American Jew, have been able to operate in the Arab/Muslim world for 20 years, and my answer to them is always the same. The secret is to be a good listener. It has never failed me…
―Indeed, the most important part of listening is that it is a sign of respect. It's not just what you hear by listening that is important. It is what you say by listening that is important...
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Influence
© 2011 Trusted Advisor Associates LLC. All rights reserved.
47
To be Clear:
1. Influence is non-rational 2. It works through reciprocity 3. Reciprocity in business happens in
conversations 4. Listening (yours) drives influence.
© Trusted Advisor Associates LLC, 2011 all rights reserved
Defining Trust
TAKE-AWAYS AND Trust Top Ten
© 2011 Trusted Advisor Associates LLC. All rights reserved.
INFLUENCE AND THE ELFEC MODEL
Trust AND Influence
THE Trust Equation
48
Being Trusted Advisors
© Trusted Advisor Associates LLC, 2011 all rights reserved
Influence AND THE ELFEC Model
© 2011 Trusted Advisor Associates LLC. All rights reserved.
51
Top Two Causes of Breakdown
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Risk
© 2011 Trusted Advisor Associates LLC. All rights reserved.
53
Trust and Risk
© Trusted Advisor Associates LLC, 2011 all rights reserved
Trust AND Risk
© 2011 Trusted Advisor Associates LLC. All rights reserved.
57
What Are We Afraid Of?
Fear of being seen as:
• Inappropriate
• Unprofessional
• Ignorant
• Rude
• Insensitive
• Etc. etc. etc.
© Trusted Advisor Associates LLC, 2011 all rights reserved
© 2011 Trusted Advisor Associates LLC. All rights reserved.
59
Trust Top Ten List
© Trusted Advisor Associates LLC, 2011 all rights reserved
TAKE-AWAYS AND Trust Top Ten
© 2011 Trusted Advisor Associates LLC. All rights reserved.
60
The Trust Top Ten THE BIG PICTURE
1. Cultivate an attitude of curiosity
2. Think out loud
3. Make listening a gift
4. Write your next proposal with client
5. Be yourself—everyone else is taken
6. Sell by doing, not by telling
7. ―Let me be a channel‖
8. When they’re angry—it’s not about you
9. Acknowledge calls unbelievably fast
10. Talk < 60 – 120 seconds
11. Read Snack Food News
© Trusted Advisor Associates LLC, 2011 all rights reserved
© 2011 Trusted Advisor Associates LLC. All rights reserved.
61
Trust-based Relationships
Copies of slides Five articles:
• 75 Ways to Build Client Trust • My Client is a Jerk • The Paradox of Trust-based Selling • The Point of Listening
Trust Matters blog
www.trustedadvisor.com/tccn
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