The Three Ps of Trust
Trust is a complex concept in human relationships. In our Chapter 1 of the still-pretty-new The Trusted Advisor Fieldbook, we explore ten fundamental attitudes that take aim at the complexities of trust, breaking it down so that it can be managed and more readily increased. Think of the Three Ps as the short list; they represent the core of our thinking on trust.
Trust is Personal
When trust is discussed, it usually refers to people. Yes, you can trust a company, but when you do, you are typically focusing on just one part of trust—dependability. It makes perfect sense to say a company or organization is dependable or reliable. It does not make much sense to say that a corporate entity has your best interests at heart or is sensitive to your needs, or is discreet. Those are things you would usually say about people. Even when it does make sense to say an organization is credible or careful or focused on your interests, the reference is usually to the people in it. At root, trust is personal.
Trust is Paradoxical
Over and over again, you will discover that the things that create trust are the opposite of what you may think. That is why we say trust is paradoxical—in other words, it appears to defy logic. The best way to sell, it turns out, is to stop trying to sell. The best way to influence people is to stop trying to influence them. The best way to gain credibility is to admit what you do not know.
The paradoxical qualities of trust arise because trust is a higher-level relationship. The trust-creating thing to do is often the opposite of what your baser passions tell you to do. Fight or flight, self-preservation, the instinct to win—these are not the motives that drive trust. The ultimate paradox is that, by rising above such instincts, you end up getting better results than if you had striven for them in the first place.
Trust is Positively Correlated to Risk
Ronald Reagan, the fortieth president of the United States, was known to quote a Russian proverb, “Trust, but verify.” For our purposes, the opposite is true. Real trust does not need verification; if you have to verify, it is not trust.
Sometimes businesspeople forget this and try to ameliorate or mitigate all risks. This is particularly true in professions like law, finance, or banking. But the essence of trust contains risk. A trust relationship cannot exist without someone taking a chance—and it is your job to lead the way. If you think, I can’t take that kind of risk yet because there’s not enough trust in the relationship, check your thinking. It is the very taking of risks that creates trust in the relationship.
Ready to start your new trust-based mindset? Mind your Ps.