Trust and Value

[Trust is] the foundational principle that holds all relationships.
-Stephen Covey

trust and value

Trust is the pipeline through which all value moves. I recently wrote on value and the need for value propositions to be made if progress is to be expected. Trust, in my estimation, is a key element in value exchange. Here is the flow as I see it. Imagine a pipe. Through the pipe flows needs and wants in one direction. After, in the opposite direction, flows value. And then consideration returns. Now imagine with me a pipe the size a drinking straw, the cocktail sort. For some reason the other trust is not there. Needs and wants are restricted. The other is guarded with their desires. They not think it in their best interest to open up and share. The result. The first has not the opportunity to help. Even what little they gleam, the straw so small can only receive value in step. Of course consideration is in proportion to value and so the whole thing, the whole process lackluster. Leaving both feeling of what it should have been.

Now image with me a pipe so grand in diameter. Needs and wants are freely shared. Even a hint of a desire is known the other before it is solidified. And value, oh how it can move through this pipeline. Consideration always in proportion leaves both feeling impressed. To put it simply: the more trust; the bigger the pipe. The bigger the pipe; the more desires, value and consideration, which all are in proportion to each other, can flow. It all starts with trust.

Trust, in my estimation, is fundamental to relationships. And business and partnerships are simply relationships. If you ever hear something of the sort, “nothing personal, it’s just business.” This is a hint, in my estimation, that someone does not understand how to move value. That they do not understand business at all.

Are you spending the time building trust that is needed in your business relationship to reach your organization’s goals? How would you measure trust? Perhaps our receipts is a good place to start?

 

-A takeaway from a Mavidea client website UX meeting

As always good books, takeaways, stories, and/or lessons learned on the subject are most appreciated.

 

Getting In

Friendship is born at that moment when one person says to another: “What! You too? I thought I was the only one.”
-C.S. Lewis

friendship in business

In business the desire for strategic partnerships often arises when trying to accomplish. As an entrepreneur I have found myself doing what I suppose many entrepreneurs do from time to time: dreaming about a future in which we have partnered with another who is already serving the masses. Dinner with the king and so on. But how does one broach the matter with the great? The bible gives Christian business people an understanding on exactly how this works. Let us have a look.

 First things first the bible shows us what the dynamics of the situation are in Proverbs 19:6a

 Many will entreat the favor of the prince…

 Entreat. Ask someone earnestly or anxiously to do something. So we know that the great are approached earnestly and or anxiously by many. What is an earnest approach like to the great? I am assuming it is not like getting a call from your cable provider on the benefits of latest bundle. It is more likely, I think, that these are more like the I have a dream speech. It is quite reasonable, I believe, to assume that the solicitors care deeply about the matter, that they have thought deeply about it for some time, perhaps even sacrificed to bring it to its current state for years. How are we to stand out?

Anxiously. In this context, I take this to mean that the solicitors’ sense of desire is great. Perhaps to the point of causing the solicited to be a bit put back, startled or even uneasy. When we think about it the two are in very different positions. One has just heard of this idea, proposition, or even this person; just now. The other is quite the opposite. This passion and sense of urgency and desire on the matter seems only separate them further.

The verse goes on to say:

Many will entreat the favor of the prince: and every man is a friend to him that giveth gifts.

So what is this mention of gifts doing here then? Interesting. Another verse in Proverbs mentions gifts and the great and even speaks to the topic of broaching the divide between ourselves and them. Proverbs 18:16 reads:

A man’s gift maketh room for him, and bringeth him before great men.

 So the bible is telling us that a gift will help us get our in so to speak. But what sort of gift is this? A new car? A fruit cake?

Gifts. The very best sort are focused on the other. Giving a gift that you like is one thing; I enjoyed this so I thought you might to. But then again your mother may not like so and so as much as you. But let us suppose this Mothers Day you found out a bit about where your mother would like to be and gave her a gift that helped her get there. In business this, I think, is of the very best sort. Not so easy of course, but all the same the best I think.

I have come to believe that these great business people are great because of their being focused on those they are serving. Again this speaks to how difficult it can be to present an idea to them. They are likely consumed with executing their specific plan for serving their customers and there may not be room for a new idea that is yours. It is highly probable that they have a plan and that you can learn about it. Perhaps the gift you bring could establish your friendship by coming alongside them in their journey of service. How much better if it was on their terms and not yours. If you were focused on joining them on their journey not inserting yours and trying to make it fit. Focused on them. The question, I believe, then becomes: how can you give a gift that helps them with their plan of helping their customers?

-A takeaway from an internrocket.com shareholder meeting

As always good books, takeaways, stories, and/or lessons learned on the subject are most appreciated.

Never Retire

Integrate your vocation and your identity by thinking of your life as a journey rather than a destination.

-Rabbi Daniel Lapin

journalist writing with typewriter

In his last commandment to making money Rabbi Lapin suggests retirement is a no go.  In fact, he points to the Jewish belief that hebrew is the language of God and therefore it is perfect.  Meaning that there is a word for everything that is real and timeless in it.  there is no word for retirement in Hebrew.  I have not come across a similar word in the Bible either.  Interesting.  What is retirement all about anyways?

When I was growing up my father told me a story, most likely very similar to a story you have heard.  It goes like this.  He had a friend who loved to write.  His friend, we will call him Jim, had two options for the next chapter in his career.  Option one was a corporate sales job that paid really well.  Option two was a writing job that did not.  Jim became a paid writer.  And because Jim went to work everyday with a smile on his face and a fantastic attitude he soon became a writer for a major publication and earned substantially more than he would have at the corporate job.  Because he was doing what he loved he naturally put his heart and soul into the work and that is a beautiful thing that is easy for everyone to see.  The old adage “do what you love and never work a day in your life” is true.  It is out there.  My challenge to you is to create margin in your life and seek it.  You will be happier.  Your family will be happier.  Your boss will be happier.  Everyone will be happier.

-A takeaway from Thou Shall Prosper by Rabbi Daniel Lapin

 As always good books, takeaways, stories, and/or lessons learned on the subject would be the coolest.

Goals

Goals are visions and dreams with work clothes on.

-Dave Ramsey

Work Boots

During my studies I became very interested in goal setting.  I will never forget an ISU alumni and entreprenuer who came in and gave a brilliant talk on goal setting.  “Write your goals down” he said.  “I’ll give you the secret to achieving all your goals” he said.  Yeah, I was listening – and that day, that speaker, that talk – changed my life.

After that talk I became very, very interested in goal setting.  I wanted to learn everything I could about it so I got some help from a couple professors.  Professors are trained researchers.  They hunt for, consume, and analyze information and data at an incredible rate.  They are particularly good at doing meta data analysis, a high level summary of all the research and publications on a given topic.  I was lucky enough to have taken a class with an entrepreneurship professor named Dr. Terry Noel who made a study of goal setting.  Dr. Noel also condensed his findings into a year long online course on setting and achieving goals that I was fortunate enough to take.  About a year or so after I finished Dr. Noel’s course, Dr. Doan Winkel also helped me research goal setting.  If you are looking for more of a DIY approach, Doan and I took what we learned up to that point and wrote a series on goal setting.

If you do not have the time to check out either of those, I must give you the summary.  Great goals are;

  1. measurable and time bound,
  2. written down, and
  3. read daily.

Now the secret I learned a few years back that changed my life. If you want to achieve every goal you set this is the secret:

Do at least one thing each day to move you even just a tiny, little, almost laughable bit closer to achieving your goal.  Everyday.

In my experience, goals are not mythical, ever elusive things that are just beyond our understanding.  Goals are quite simple.  Let me restate that.  Great goals are quite simple, but they can require hard work.  And it is typically not the kind of hard work that makes us say “I am not going to get off this treadmill until I lose 5 pounds.”   More often than not it is the kind of hard work that persistence and discipline over time affords.  It leaves us saying “I will spend 30 seconds to track the calories that I consume every time before I put anything in my body, and I will not consume more calories than I burn in a day, everyday.”  If this sounds like hard work, perhaps this particular thing is not so important to you.  In my experience it is much better to start with fewer goals that you are passionate about.  When you do not care so much, goals become the hardest of things you set out to do.  When it is something you are passionate about, really passionate about – it becomes easy.

 

A takeaway from Entreleadership by Dave Ramsey.

 

As always good books, takeaways, stories, and/or lessons learned about this stuff would be the coolest but anything is cool.  Does anyone else have any tips or lessons learned on setting great goals?