Trust in Business: The (Old) New Frontier?
In the business world today, the trust factor has been replaced by signed agreements and lawyers. We have e-signatures, contracts that are pages and pages long, then other contracts to confirm the first agreement, non-disclosures and non-circumventions, the list goes on. Point is, trust in business is frighteningly absent. Not so long ago, deals were made on handshakes and mutual understanding. By definition, you can only be considered trustworthy when someone else feels you are worthy of trust (very much an eye-of-the-beholder kind of thing).
This is not to say that written agreements and contracts are not warranted, especially given that financial catastrophes are often due to people having put trust in others who controlled their futures and took advantage of that.
But as there is a social wave happening where people are starting to turn back to their local growers and starting to get to know their community once more, perhaps this can open the way to developing more meaningful relationships even in business; relationships that are based in mutual trust. And as trust is based on honesty, this spells a potential saving grace for the business world.
How this relates to the Capital Corp team is that although we have progressed through the times and we also make use of agreements and lawyers, the basis of our business is in the relationships that are created and the trust that is built along the way with our clients. Trust has long been the foundation and a pillar of our business.
Some would say that trust is an ill-advised and ludicrous practice in business today because you’ve always got a contract to back up your claims and if someone lies you can take them to court. While that may be the case, there’s not much to be gained in becoming litigious.
The code of ethics that we uphold here can apply to all kinds of businesses elsewhere, from flower shops to even law firms. Providing an honest service in an honest way is an opportunity to make way here. If not, well the social media world will take care of those who are less than honest and cannot be trusted. But being ahead of that curve can be nothing short of pioneering... again.
Always make sure that you make an informed decision in all cases,
All the Best,
The Capital Corp Team