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Being a Trusted Advisor

Being Trusted Advisors

Copies of slidesFive articles:

• 75 Ways to Build Client Trust• My Client is a Jerk• The Point of Listening

Trust Matters blog

www.trustedadvisor.com/naifa

Defining Trust

Trusted Advisor

Advising

Being Trusted

DefiningTrust

TAKE-AWAYS AND Trust Top Ten

INFLUENCE AND THE ELFEC MODEL

Trust AND Influence

THE Trust Equation

Building and Leveraging Trust

Defining Trust

A Simple Example

THETrust Equation

Which Do You Want to Focus On?

THETrust Equation

Being a Trusted Advisor, Part A: Trust

Being trusted

Being trustworthy

Tough to fake

Easier to maintain

THETrust Equation

The Trust Equation

C + R + IS

T trustworthiness

C credibility

R reliability

I intimacy

S self-orientation

THETrust Equation

Truthfulness

Credentials

I can trust what

she says about…

Dependability

Predictability

I can trust him

Discretion

Empathy

I can trust her

with…

ActionsActions SecuritySecurity FocusFocusWordsWords

Credibility Reliability OrientationIntimacy

I can trust that

he cares

about…

Motives

Attention

Four Factors of Trustworthiness

THETrust Equation

About the TQ

• Developed by Charles Green from the Trust Equation

• Taken by over 12,000 people to date

• A trustworthy indicator of trustworthiness

THETrust Equation

Your Trust Quotient

THETrust Equation

Your Trust Quotient

N = 12,857

Median skewed left: 3 x S

All TQ Respondents

Avg. TQ Scores:World 6.3

THETrust Equation

Total Population: Highest Rated CRIS FactorN = 12,857

THETrust Equation

Deloitte Federal: Highest Rated CRIS FactorN = 12,857

THETrust Equation

Law Firm: Highest Rated CRIS FactorN = 12,857

THETrust Equation

Total Population: Lowest Rated CRIS FactorN = 12,857

THETrust Equation

Deloitte Federal: Lowest Rated CRIS FactorN = 12,857

THETrust Equation

Law Firm: Lowest Rated CRIS FactorN = 12,857

15% 0%

THETrust Equation

A Quick Quiz

Whom can you trust?

THETrust Equation

Trust By GenderA NON-TRIVIAL DIFFERENCE

79.680.7

Gender

TQ Score

THETrust Equation

Trust by Age

THETrust Equation

Trust by AgeSTRONG CORRELATION

0 20 40 60 80

Trust Quotient

THETrust Equation

Your Trust Temperament™

THETrust Equation

What’s in a Temperament?

•Two strongest factors = your Trust Temperament™

•Based on your self-assessment, because it’s your innate preference when it comes to building trust

Temperament C R I S

Expert ✔ ✔

Catalyst ✔ ✔

Professor ✔ ✔

Doer ✔ ✔

Steward ✔ ✔

Connector ✔ ✔

TOP TWO SCORES

THETrust Equation

The Expert (CR)

“Lead, follow or get out of the way.”– An Anonymous CR

THETrust Equation

The Doer (RI)

“As for accomplishments, I just did what I had to do as things came along.”

– Eleanor Roosevelt

THETrust Equation

The Catalyst (CI)

“A genuine leader is not a searcher for consensus but a molder of consensus.”

–Martin Luther King, Jr.

THETrust Equation

The Professor (CS)

“The important thing is not to stop questioning. Curiosity has its own reason for existing.”

– Albert Einstein

THETrust Equation

The Steward (RS)

“My goal wasn’t to make a ton of money. It was to build good computers.”

– Steve Wozniak

THETrust Equation

The Connector (IS)

“It’s not what you know, it’s who you know.”

– An Anonymous IS

THETrust Equation

The Six Trust Temperaments: DistributionWORLD DISTRIBUTION

Temperament World

CR Expert 31%

RS Steward 21%

RI Doer 17%

IS Connector 13%

CI Catalyst 10%

CS Professor 8%

THETrust Equation

The Six Trust Temperaments: DistributionWORLD , BIG 4, LAW FIRM

Temperament World Big 4 Law Firm

CR Expert 31% 43% 59%

RS Steward 21% 25% 25%

RI Doer 17% 14% 8%

IS Connector 13% 7% 8%

CI Catalyst 10% 11% 0%

CS Professor 8% 0% 0%

THETrust Equation

Temperaments: Effectiveness vs. DistributionWORLD EFFECTIVENESS N=12,857

Temperament TQ Score

RI Doer 80.6

IS Connector 80.4

CI Catalyst 79.9

RS Steward 79.7

CR Expert 79.1

CS Professor 79.1

THETrust Equation

Temperaments: Effectiveness vs. DistributionWORLD EFFECTIVENESS, WORLD DISTRIBUTION

WorldDistribution

RI Doer 80.6 17%

IS Connector 80.4 13%

CI Catalyst 79.9 10%

RS Steward 79.7 21%

CR Expert 79.1 31%

CS Professor 79.1 8%

THETrust Equation

Temperaments: Effectiveness vs. DistributionWORLD EFFECTIVENESS, WORLD/BIG 4 DISTRIBUTION

WorldDistribution

Big 4 Distribution

RI Doer 80.6 17% 14%

IS Connector 80.4 13% 7%

CI Catalyst 79.9 10% 11%

RS Steward 79.7 21% 25%

CR Expert 79.1 31% 43%

CS Professor 79.1 8% 0%

THETrust Equation

Temperaments: Effectiveness vs. DistributionWORLD EFFECTIVENESS, WORLD/LAW FIRM DISTRIBUTION

WorldDistribution

Law FirmDistribution

RI Doer 80.6 17% 8%

IS Connector 80.4 13% 8%

CI Catalyst 79.9 10% 0%

RS Steward 79.7 21% 25%

CR Expert 79.1 31% 59%

CS Professor 79.1 8% 0%

Advising

Being Trusted

Trust AND Influence

Ah, but there’s the rub. When matters of personal health (or home appliances) are at stake, we want a lot more than expertise from our experts. The rational world suddenly loses its appeal; dull, steady scientific observation seems only dull and steady. We want some pixie dust, a little magic, an eccentric genius who can see through the usual mumbo-jumbo to the core of the problem (paging Dr. House).

But until our prince comes, we are left with the most basic, bare-bones determination: do we trust this guy or not? And this decision, rather than following along a perfectly manicured line of reasoning and evidence, relies on that least scientific of all human inclinations — the simple leap of faith.

Trust AND Influence

Influence and Trust

How do we get others’ attention?

How do they get ours?

Trust AND Influence

What We Think About How We ThinkRATIONAL, DEDUCTIVE, LOGICAL

Trust AND Influence

Are Ordinary People Rational?

Trust AND Influence

Are Judges Rational?

Does it matter what judge hears your case?

Does it matter how the judge is feeling today?

Trust AND Influence

Are Professionals Rational?

How much do US pharmaceutical companies spend on “medical education” ?

Doctors: “They can’t buy me with laser pointers and monogrammed pencils.”

Trust AND Influence

Cialdini on Influence

The number one factor of influence:

Reciprocity

Trust AND Influence

The Doctor’s Story

A pain in my left shoulder…

• If you listen to me, I will listen to you…

• If you don’t listen to me, I will not listen to you

Trust AND Influence

“The most pervasive and hardest sales problem? Premature solutions. The mistaken belief that the sooner they can begin solving the problem, the more effective they will be.”

Trust AND Influence

Thomas Friedman on Listening

“People often ask me how I, an American Jew, have been able to operate in the Arab/Muslim world for 20 years, and my answer to them is always the same. The secret is to be a good listener. It has never failed me…

“Indeed, the most important part of listening is that it is a sign of respect. It's not just what you hear by listening that is important. It is what you say by listening that is important...

Trust AND Influence

Suicide Hot Lines

Trust AND Influence

Gottman on MarriageTHE LOVE DOCTOR

“Understanding must precede advice.”

“You have to let your partner know that you fully understand and empathize … before you suggest a solution.”

Trust AND Influence

To be Clear:

1. Influence is non-rational2. It works through reciprocity 3. Reciprocity in business happens in conversations

4. Listening (yours) drives influence.

DefiningTrust

INFLUENCE AND THE ELFEC MODEL

Trust AND Influence

THE Trust Equation

Being Trusted Advisors

Influence AND THE ELFEC Model

Top Two Causes of Breakdown

Take-Aways and Trust Top Ten

The Trust Top TenTHE BIG PICTURE

1. Cultivate an attitude of curiosity

2. Think out loud

3. Make listening a gift

4. Write your next proposal with the client

5. Be yourself—everyone else is taken

6. Sell by doing, don’t sell by telling

7. “Let me be a channel”

8. When they’re angry—it’s not about you

9. Acknowledge calls unbelievably fast

10. Talk < 60 – 120 seconds

Being a Trusted Advisor

Copies of slidesFive articles:

• 75 Ways to Build Client Trust• My Client is a Jerk• The Point of Listening

Trust Matters blog

www.trustedadvisor.com/naifa

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