Trust is money

"Trust is all well and good. But before we worry about that, we need to get the business up and running!" You've probably heard this statement before. It conveys what many people think: trust is a "soft skill," a nice-to-have that you should strive for once the "hard skills" in the company are running at 100 percent. Hard skills, such as professional expertise or language skills, are tangible and measurable. Soft skills, such as self-esteem or people skills, are more difficult to learn and harder to measure.

Which is more important? You can probably guess: of course, both are equally important. But "hard skills" have a much more widely accepted reputation. As typical professional qualifications, they are acquired through study, training, and practical experience. They can be verified by certificates and performance tests. The hidden nature of "soft skills" quickly brings a smile to the faces of "hard types." Who wants to be "soft" when "being hard" is so fashionable?

Soft skills determine career limits

But that is outdated thinking. Professional competence is the gateway, ramp, and acceleration lane to a professional career. Its continuous development is essential. However, soft skills such as personal competence (dealing with oneself) and social competence (dealing with others) determine the maximum speed and thus the career limit—how far someone can go. Trust plays a huge role here. According to Stephen Covey, it is essentially about self-confidence, relationship trust, organizational trust, market trust, and social trust. This makes trust one of the major factors for success and one of the hardest realities in business.

Here are a few examples: When a customer makes a purchase for the first time, they are placing their trust in you, usually based on a recommendation or advertising promise. If they buy again, they see their trust as "confirmed." If you remain reliable, you receive a "trust bonus." Money keeps flowing. Your bank will only give you a loan (credere = believe, trust) if it believes you will repay it. Or what would happen if 82 million Germans suddenly lost confidence in the euro? The ensuing "bank run" would be a disaster.

A powerful tool in smart hands

Externally, customer trust is rewarded with information that enables you to better serve their needs. Supplier trust provides valuable information about the market and competitors that is not available in industry publications. Within the company, trusting employees provide trustworthy managers with insights that enable more successful leadership for the benefit of both parties. Informal word of mouth is sometimes more important than official announcements. Those who "trust" their employees to handle difficult tasks and support them in achieving their goals increase their self-confidence. This confidence continues to grow as results improve. Trust is a powerful tool in smart hands, a strong instrument for creating value. In short: trust is money!

But there is no trust without disappointment: being disappointed is part of life. Those who only want to place trust in others without risk of disappointment are actually striving for control. Those who do not process their disappointments mutate into control freaks. Self-confidence is at the beginning of the chain of trust. Because those who disappoint themselves destroy it. This happens more often than you might think. Take care of yourself. Without self-confidence, it is difficult to develop trust in others. Your trust in relationships and society will also suffer. Trust is the connecting element that holds our lives together. That is why trust is much more valuable than we think. Learn to forgive yourself and others when you are disappointed. That is what distinguishes a great personality.

Expectation versus entitlement

Thinking ahead: High expectations can also lead to disappointment. For example, most Germans were certain that the national team would reach the final of the World Cup and defend their title. But after the preliminary round, it was all over. High expectations were followed by disappointment. Other nations, on the other hand, performed far beyond their own expectations in the competition. Each individual also has personal expectations. If these are not met, disillusionment sets in and brings negative feelings. On the other hand, the demand we place on ourselves to always do our best already creates satisfaction.

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