COMPOUND WITH CONFIDENCE: PCCA Membership, $795/month.

Pharmacy compounding's source for clinical information, regulatory updates, and opportunities

THE PCCA BLOG

rss

Stay current on PCCA news and events, market trends, and all things compounding!

How_to_Build_Trust_and_Grow_Your_Business.png

By Cate Gregory

The ability to develop trusted relationships is critical to team and business success. There are real, tangible — and yes, economic — benefits to having trusted relationships. The problem is we do not have this type of relationship with all of our customers, colleagues and teammates all of the time. Why? One reason is it can be hard to pinpoint what we really mean by “trust.” There are many definitions of “trust,” and it means different things to different people in different contexts.  

During my upcoming session at PCCA International Seminar 2019, I will share how my colleague Charlie Green of Trusted Advisor Associates, along with his co-authors of the bestselling book The Trusted Advisor, breaks down what it really means to be trustworthy. Hint: It takes credibility, reliability, intimacy and low self-orientation. 

Demonstrate Credibility
Credibility and reliability are largely rational traits. You can look to facts and data to confirm their existence. Let’s talk about credibility first. You can demonstrate your credibility in two key ways:

  • Your knowledge, experience and credentials
  • Your honesty and truthfulness
Here are two of my favorite ways to build credibility fast:
  1. Share your knowledge and passion for what you do in a way that is accessible and relatable for your patients and customers. Drop the “tech talk” and jargon. Make it easy for patients to understand and engage with you
  2. Be willing to admit you don’t know something or have made a mistake. Telling the truth, especially when it doesn’t make you look great, shows others they can trust what you say all the time
Build Reliability
Now let’s talk about reliability. Reliability is essentially about doing what you said you were going to do. This is the variable I personally struggle with the most. I can easily get excited and overcommit; then I get overwhelmed and fall behind.
  1. Get into communication the minute you know you are going to miss a deadline or a promise. We often wait to acknowledge our misstep after we have missed the deadline.  Getting into communication before keeps you reliable in the eyes of your patients, partners and colleagues
  2. Be unbelievably responsive. When someone asks a question that you don’t have the answer to, don’t wait to get in touch until you do. Get back in touch immediately and let them know you are “on the case.” They’ll appreciate the transparency and expectation-setting

Create Intimacy
“Intimacy” is a provocative word choice — intentionally. What we want to convey is more than a friendly or “good” relationship. When we talk about creating intimacy, we are talking about safety, as in the psychological kind. Do patients, partners and teammates feel comfortable and at ease when working with you? This can be a real differentiator for you and your business.  

For most of us, it’s easy to see how credibility and reliability are important in business relationships. If we only focus on these rational elements of trust, though, we run the risk of our relationships being transactional and superficial. Intimacy is a special ingredient that makes all the difference. During PCCA’s International Seminar, I will share specific ways to increase attendees’ intimacy with customers and patients.

Avoid High Self-Orientation
There are many reasons why it feels difficult to trust during moments of conflict, all boiling down to fear and uncertainty — fear that someone is going to take advantage of us in some way, fear that someone isn’t being straight with us, fear that we are not going to get what we want or need, fear that we are going to look bad, fear that they won’t like what we need to tell them. I could go on and on. These fears cause us to become highly self-oriented, which means we are less likely to act and respond in the most trustworthy way. That includes putting off dealing with the conflict. During International Seminar, I will be sharing a tried and true technique for getting into those difficult conversations sooner rather than later — and in a way that not only doesn’t erode trust, but builds trust in the process. 

Why Trust Matters for Your Pharmacy
There are real, tangible benefits to having trusted relationships with your patients and customers. Think about it:

  • They are more likely to come to you first, which means a lower cost of sales
  • They are more likely to refer you to others
  • They are more willing to share information with you
  • You can get to decisions faster
  • It's easier to recover from mistakes or missteps
  • It's more enjoyable to work with them
These are just a few benefits, and I am sure you can think of others. Being successful in your business requires more than your expertise. In a world where there are many options available to customers, they are asking two questions when deciding whether or not to buy from you:
  • "Can they do the job?" This is all about your credibility and reliability
  • "Do I want to work with them?" This is all about intimacy and low self-orientation
The bottom line is, as my colleague Charlie says, “People are far more willing to buy what you are selling if they feel you understand them—if they trust you.”
 
Cate Gregory has 25 years of experience combining hard business discipline with expertise in managing social complexity to achieve leadership and program success. Now an executive coach, experienced management and strategy consultant, speaker, and session leader, she specializes in outfitting clients to take on their most complex and daunting challenges. She brings her knowledge of organizational dynamics, systems theory and leadership development to tackle technically and socially complex issues with her clients. Cate holds a Bachelor of Arts from the University of Virginia and received her Certificate in Leadership Coaching from Georgetown University. She partners with Trusted Advisor Associates and The Get Real Project, where she leads their signature programs Being a Trusted Advisor, Trust-Based Selling, and Trust-Based Consulting.



Comments are closed.