What is the value of trust and friendship in business?

Has the recession changed the way you approach business?

Many of the business people in my network have answered an emphatic YES to this question…

Jurga Zilinskiene who runs established language translation services company Today Translations said, “During the recession we realised the value of our local suppliers. Trust and pulling together has been the key to the success that we’ve enjoyed through these lean times. By working in close proximity with our partners we have been able to focus on delivering a high quality service and a fast turnaround for our clients which has really made a difference to our bottom line.”

Jurga Zilinskiene of Language Translations Services company, Today Translations
Jurga Zilinskiene who runs established language translation services company Today Translations.

Doing business with people trust and meeting people face-to-face are coming back into fashion. The perception amongst my ad-hoc sample appeared to be that by working with people (suppliers) that you’ve met and with whom you have developed some level of trust – and by trust I mean an intuitive feel for the person, as well as an understanding of the services their business can offer – you will achieve a greater level of customer service and ultimately an increased ROI.

Aude Lesur of Credau an Eco Menswear label specialising in eco clothing for men all made in Britain said “From conception to packaging, Credau has always believed in using local industry. All of our clothes are made in Britain, East London. Our care labels are woven in Pembrokeshire, and environmentally sustainable. We keep our carbon footprint to the minimum. We do not use plastic and we send out goods using a biodegradable polybag. We started out doing this because we care about the environment and it’s a core business value of Credau – however, we have been amazed at the resilience this policy has given our business during this downturn. We have experienced increased levels of service from our suppliers – all of them know the value of raising quality and because we are in it together they are also personally motivated to deliver even more value.”

Another client of ours who is reaping the rewards of the increased value that is being placed on “trust in business” is Mike Lacorte, Director of the Private Investigator agency Conflict International. Mike said, “We are seeing an increasing number of corporate businesses come to us, who want to find out more about potential employees they are thinking of taking on for key positions. They want to know if the person is drinking too much or doing drugs before they take them onto a very lucrative package. For them it’s a smart business decision and everything we do is within the law and entirely confidential.”

My conclusion; meeting with and trusting in your suppliers, partners and employees is crucial if you are to create sustainable business relationships. The benefits are a strong ROI, increased profit and (dare I say it) ‘friends’ who will be amongst the first to provide real help in challenging times.