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Trust - Scott's Perspective
Share this: Consciously developing trust greatly benefits individuals and organizations. Most people and entities do not regularly focus on building trust, resulting in unnecessary obstacles that can hinder relationships, flow, and ultimately reduce sales and profit. Emphasizing trust as a key component of smooth business operations can greatly improve many of your organization’s key relationships. Lets examine a simple, personal, real-life example that took place at the beach resort town of Hua Hin, Thailand in January 2016. I ate a delicious lunch of fried rice and mixed vegetables at a typical roadside stall. The bill came to 110 Baht (B) but I only had 100B and 1,000B notes. For a small vendor, breaking such a large bill is difficult, stripping them of much needed change. After some quick consideration, the cook suggested I pay 100B now and the remaining 10B next time I visited, smiling and saying “mai pen rai” (never mind). I’d eaten at the stall a few times during the previous two weeks, but this show of trust was incredibly gracious and trusting. The 10B potentially lost if I didn’t return constituted roughly 10% of the selling price – certainly a good portion of her profit. But she appreciated the situation and quickly made a judgment that cultivating me as a potentially longer-term customer was of greater value than getting the final 10B there and then. And I did return – the next day for lunch, and a few more times during my remaining week in town. While …