3 Actions You Can Take To Win In This Economy

There are 3 actions you can take to gain the advantage in this economy…quicker, easier and cost effectively. In times like these, winning in business comes down to having the right people with the right outlook and creating an environment where those people trust each other enough to openly exchange ideas and problem solve together. This kind of winning team comes to those leaders who trust. 

Here are 3 key actions to consider… 

Action #1: Trust People
“Few things help an individual more than to place responsibility upon him, and to let him know that you trust him”. Booker T. Washington Are your people confident that you trust them? I have observed business leaders who are afraid of what will happen if they share with people the reality of doing business in this economy. 

The motives for withholding information, or at least deciding not tell people what’s really going on in the business, can range from managing business risk, i.e. hiding behind legal and HR, to genuinely wanting to protect people. 

Trust is gained by giving it first to those who are capable and committed. Your role as leader is to demonstrate confidence in your people and trust that they are strong enough to handle the truth. 

Action #2: Trust Yourself
 Ralph Waldo Emerson said, “Self-trust is the first secret to success”. Do you trust your own ability to lead your organization through these treacherous waters? Are you committed to eliminating those things that are no longer productive in order to free resources? Will you engage your team to plan the way forward or make all the decisions yourself? 

Yesterday, a young leader shared with me that his group will have to let several people go in a few weeks. He pulled his team together and held an open discussion about how they will prepare those individuals for the inevitable so they will not be surprised. Such an action is not without risk, but this kind of leadership is only possible with those who trust themselves. Gaining the trust of others starts with the ability to trust yourself. 

Action #3: Trust Movement 
Consistent actions determine trust, not carefully crafted speeches. “Trust only movement. Life happens at the level of events, not of words. Trust movement.” Alfred Adler, father of psychotherapy and personality theory Follow-through on commitments made, without having to be reminded. Dr. Ken Blanchard shared with me an interesting informal poll he conducted with his audiences around the world. He asked which kind of bosses were most detrimental to performance. 

The number one detrimental boss was the ‘Do-Nothing Boss’. The do-nothing boss looks the other way, avoids decisions and won’t take a stand. Trust movement, not words. Let your people see you driving business events, not just talking about them. Trust and be trusted! I would appreciate hearing your comments on the role of trust in business success.