[00:00:02] Speaker A: Ramping up your business. The time is near. You've given it hard, now get it in gear. It's Passage to Profit with Richard and Elizabeth Gearhart. I'm Richard Gearhart, founder of Gearhart Law, a full service intellectual property law firm specializing in patents, trademarks and copyrights.
[00:00:20] Speaker B: And I'm Elizabeth Gearhart, not an attorney, but I do marketing for Gearhart Law and I have my own startups and podcasts.
[00:00:26] Speaker A: Welcome to Passage to Profit, the road to entrepreneurship, where we talk with celebrities and entrepreneurs about their stories and their business ventures. It's time for your new business journey. So two in five Americans are business owners or at least thinking about becoming business owners, and we like to ask a question that will benefit them. So today we're going to be talking about trust and the importance of building trust among your team as and your customers. So, Naga, welcome to the show. What are your thoughts about trust in the world of business?
[00:00:59] Speaker C: I would say, like, trust is one of the most important part because you need to create trust in two avenues. One thing is to your customers and also to your employees. Employees have to believe in you while you're doing the service industry to journey and then accept. Whereas customers are getting all the full service that they needed. When they trust, they wait for us to get delivered. So. So I definitely think that is important.
[00:01:22] Speaker A: That's great. That's great advice, Peter.
[00:01:24] Speaker D: I feel largely the same. I think trust is the most critical component, especially nowadays, of scaling any enterprise. Deloitte actually did a study. They studied a trillion dollars of buying power in this country and they found that for 75% of the decision to buy a product, it actually has nothing to do with the product itself. It's all about trusting the founders of the company, trusting the company, charitable outreach, charitable donations. So you've got a very, very savvy and educated customer nowadays who's looking and researching before they're purchasing. So there's got to be a sincere connection in order to bond with these customers, in order to be successful nowadays.
[00:02:03] Speaker A: Very good, Sonia.
[00:02:04] Speaker B: Trust is so key and certainly for what I do with coaching. You know, Pete and I were talking earlier. It's almost, it's everything because if you aren't trusted by your client, they're not going to reveal their truths. You're not going to really get to the heart, heart and the core of whatever it is that you're trying to figure out. So number one is trust and then is everything else.
[00:02:23] Speaker A: You said that so well, Elizabeth.
[00:02:25] Speaker B: I agree with everything. I also feel like, though, to build trust you need to do what you say you're going to do.
[00:02:31] Speaker A: I couldn't agree more. I think it's really important because trust has a very practical value. I mean, it makes us feel good, but it also means that we can rely on the people that we're working with. Right. So if you trust somebody and you can rely on them, then that's the basis. That's the lubricant for business. Right. Because you can't write a contract for everything and you can't put everything in an email. But if you trust the person, if there's an issue, you can work it out.
[00:02:57] Speaker B: I think listening is such a key. Listening like real listening and reflecting back so people feel heard.
[00:03:05] Speaker A: I hear you.
[00:03:05] Speaker B: And that there isn't the lack of communication. I think that's another important component component to building that trust so that everybody is on the same page so you don't have to write a contract for everything.
[00:03:17] Speaker A: So how do you become a good listener?
[00:03:19] Speaker B: Getting curious. I think curiosity is the number one thing to it's not about you, it's about them. And that's probably right 101 client sales and whatnot. But it really is true. So it's about the other person. It's about getting curious. It's about trying to hear what's underneath the words. So it's not just about what they're saying, but it's feeling the energy of what's coming from them and then reflecting it back to make sure that what you're getting is accurate.
[00:03:50] Speaker A: Wow.
[00:03:51] Speaker D: You should have worked with my ex wife.
I did the best I could.
[00:03:56] Speaker A: Well, that's great. So I think the bottom line is trust is really important and we all appreciate that. Getting there and maintaining it is is also really important because it really does help propel a business and any kind of relationship forward. Passage to Profit is a nationally syndicated radio show appearing in 38 markets across the United States. In addition, Passage to Profit has also been recently selected by Feedspot Podcasters Database as a top 10 entrepreneur interview podcast. Thank you to the P2P team, our producer, Noah Fleishman and our program coordinator, Alicia Morrissey and our studio assistant, Marissa Cat Busari. Look for our podcast tomorrow anywhere you get your podcasts. Our podcast is ranked in the top 3% globally. You can also find us on Facebook, Instagram X and on our YouTube channel. And remember, while the information on this program is believed to be correct, never take a legal step without checking with your legal professional first. Gearhart Law is here for your patent, trademark and copyright needs. You can find
[email protected] and contact us for a free consultation. Take care, everybody. Thanks for listening and we'll be back next week.
