Misfit Entrepreneur May 2020 - 196: The Science of Building, Maintaining, and Repairing Trust with Serial Entrepreneur and Trust Expert, Mark Given

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Dave Lukas Chats with Mark Given

196: The Science of Building, Maintaining, and Repairing Trust with Serial Entrepreneur and Trust Expert, Mark Given

This week’s Misfit Entrepreneur is Mark Given. Mark is a philosopher, teacher and speaker and travels extensively helping companies, organizations, associations, educators, and individuals understand the science of building, maintaining and repairing TRUST.

He is the founder of the Trust Based Philosophy and the Trust Based Academy and best-selling author of 8 books about Trust.

He’s started and sold multiple companies and built a global brand and I’ve asked him on today to share his best wisdom on how to create, build, and grow trust as I think it is one of the most important currencies we have as entrepreneurs – and I also think it will be especially important as we get back to doing business as the global pandemic subsides.

www.MarkGiven.com

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Show Notes

Mark has had transformations throughout his career. He graduated from college with a music performance degree, but always wanted to be in business for himself. After traveling for music for a while, he decided to get into business doing a short stint in insurance. He then opened a small retail video rental store in 1980. He started long before Blockbuster and others. He focused on opening stores in towns with 25,000 or less people. He grew it to over 47 location in a 24 year period. He had the vision to see the changes coming with streaming and movies moving to online and sold the business long before others got out or went out of business.

He did very well on the transaction and then started into the real estate industry. But, really loved working with people and helping them. He realized that he operated for much of his life and career on a specific concept of trust. He realized that no one was teaching any science behind why trust works and how to build, maintain, and repair it.
Trust is the foundation, but it’s more than just a philosophy.

Define what trust is….

Trust is not a feeling
It is something we know when see it and we know when we don’t.
We see it in body language, facial expressions, etc.
Trust is the foundation of whether we want to associate with a business or a person. If we trust them and believe in them, we will continue a relationship and do business with them.
It is a principle, not a concept.
It’s important to know why you or other trust. The how and the why is critical to understand trust.

What are the 4 Facets of Trust?

Grand Opening: This is your first appearance or introduction. Instead of the standard 2 step greeting of “Hi, I’m…” to a 3 step greeting of using the word “you” twice before you introduce yourself.
Rapport: Ask really good questions that resonate really good questions with the people you are speaking with. It is about asking and listening. Ask better questions and really listen.
Maintenance: Be a giver, not a taker.
Apology: We all make mistakes. It is how we handle that mistake that matters most. We must apologize properly to build, maintain, and repair trust.

At the 13 min mark, Mark gives examples of each?

Grand Opening: Use the 3 step greeting. It needs to be about them and not you. The key is to include the word “you” in how you greet someone. “It’s nice to see you today. Thank you for taking the time speak with me.” Then you can talk about yourself. The formula is “you, you, I.”
Rapport: People like to talk about themselves and are interested in their needs. Ask them questions to give them the opportunity to speak about themselves. The principles of “How to Win Friends and Influence People” are just as relevant today as they were in the 40’s.
- Use FORD:
- Family
- Occupation
- Recreation
- Dreams
- “You cannot solve someone’s problems unless you know what their problems are and you’ll never understand what their problems are unless you are listening and get them to tell you.”
Maintenance: Giving more and take less. Be generous. When you are a sincere giver, you give with the intent to serve and help someone else succeed without concern for what you get in return.
- Examples including checking in on those you care about and seeing it you can help them.
- You can have everything you want in life, if you just help enough others get what they want.
Apology: There is a system for apologizing the right way. 4 steps
- Recognize that you have made a mistake
- Admit and recognize the fact that you did make a mistake to those affected.
- Reconcile and determine how you can make things better.
- Tell those affect that you will not let it happen again and then deliver on that promise.
- Understand that you need patience as it will take time for people to come back around.

How do entrepreneurs go about establishing trust and asking people to buy our products and services in the “new normal” coming out of quarantine?

How we interact with people will change because of social distancing.
We will need to listen and watch even more to how we need to deliver our products/services.
It is going to be harder to earn trust. People will be more sensitive to it.
Being a giver is more important than ever.
People are going to be craving the truth even more and will be OK with it, even if it is bad news – they just want the transparency upfront.

How do you see the Trust Based Leader in all this?

Managers are not the same as leaders. They are responsible for getting tasks done.
Leaders have a different role. They have a vision for the future. They inspire people to follow them to make it reality.
Great leaders inspire people to be their best and/or become their best.
Great leaders are inherently trusted because their ability to inspire and bring people alongside them to where they are going.

Best advice in managing the stress of these times and ongoing?

There is always stress – it’s how we deal with it that matters.
The habits that you have throughout the day are the things you can use to put in place systems and principles to help you reduce stress.
It takes great habits
It takes focus
It takes knowing and being OK with your reality.

7.5 Things to Thrive in the Next 3 Years?

Decide what you want. Where do you see yourself? (Vision)
Create the plan to get to what you want and are seeing. (Mission)
Know the cost – what is going to take to get what you want.
Do not let anyone try and steal your possibilities and dreams.
Get to work.

Best Quote

“Trust is the foundation, but it’s more than just a philosophy.”

Legacy. No matter what we do, we are leaving a legacy. What do you want yours to be?

Transparency and spirituality. Be transparent with others and be in tune with yourself and the universe.

Authenticity and Productivity. What you see is what you get. Be yourself because everyone else is already taken. Be positively productive.

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