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© Trusted Advisor Associates LLC, 2012 all rights reserved

Being a Trusted Advisor


© 2012 Trusted Advisor Associates LLC. All rights reserved.

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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


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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


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Defining Trust


Defining Trust


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Defining Trust


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A Simple Example


THETrust Equation


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Which Do You Want to Focus On?


THETrust Equation


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Being a Trusted Advisor, Part A: Trust

Being trusted

Being trustworthy

Tough to fake

Easier to maintain


THETrust Equation


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The Trust Equation

C + R + IS

C + R + IS

T trustworthiness

C credibility

R reliability

I intimacy

S self-orientation

T =


THETrust Equation


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Truthfulness

Credentials

I can trust what

she says about…

Dependability

Predictability

I can trust him

to…

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


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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


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Your Trust Quotient


THETrust Equation


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Your Trust Quotient

N = 12,857

Median skewed left: 3 x S

All TQ Respondents

Avg. TQ Scores:World 6.3


THETrust Equation


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Total Population: Highest Rated CRIS FactorN = 12,857

22%

38%

20%

9%C

R

I

S


THETrust Equation


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Deloitte Federal: Highest Rated CRIS FactorN = 12,857

19%

51%

15%

15%C

R

I

S


THETrust Equation


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Law Firm: Highest Rated CRIS FactorN = 12,857

20%

50%5%

25% C

R

I

S


THETrust Equation


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Total Population: Lowest Rated CRIS FactorN = 12,857

25%

15%

29%

31% C

R

I

S


THETrust Equation


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Deloitte Federal: Lowest Rated CRIS FactorN = 12,857

26%

6%42%

26% C

R

I

S


THETrust Equation


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Law Firm: Lowest Rated CRIS FactorN = 12,857

15% 0%

70%

15%C

R

I

S


THETrust Equation


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A Quick Quiz

Whom can you trust?


THETrust Equation


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Trust By GenderA NON-TRIVIAL DIFFERENCE

79.680.7

70

75

80

85

90

Gender

TQ Score

Men

Women


THETrust Equation


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Trust by Age


THETrust Equation


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Trust by AgeSTRONG CORRELATION

70

75

80

85

90

0 20 40 60 80

Trust Quotient

Age


THETrust Equation


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Your Trust Temperament™


THETrust Equation


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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


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The Expert (CR)

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


THETrust Equation


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The Doer (RI)

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

– Eleanor Roosevelt


THETrust Equation


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The Catalyst (CI)

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

–Martin Luther King, Jr.


THETrust Equation


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The Professor (CS)

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

– Albert Einstein


THETrust Equation


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The Steward (RS)

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

– Steve Wozniak


THETrust Equation


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The Connector (IS)

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

– An Anonymous IS


THETrust Equation


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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


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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


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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


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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


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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


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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%



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Advising

Being Trusted



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Trust AND Influence


Trust AND Influence


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Trust AND Influence


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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


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Influence and Trust

How do we get others’ attention?

How do they get ours?


Trust AND Influence


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What We Think About How We ThinkRATIONAL, DEDUCTIVE, LOGICAL

Facts

Logic

Truth


Trust AND Influence


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Are Ordinary People Rational?


Trust AND Influence


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Are Judges Rational?

Does it matter what judge hears your case?

Does it matter how the judge is feeling today?


Trust AND Influence


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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


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Cialdini on Influence

The number one factor of influence:

Reciprocity


Trust AND Influence


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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


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“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


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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


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Suicide Hot Lines


Trust AND Influence


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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


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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


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Top Two Causes of Breakdown



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Take-Aways and Trust Top Ten




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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



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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

being a trusted advisor - naifanet.com a trusted advisor naifa st louis... · being a trusted...

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