Three Aspects of Trust

According to researcher Glen Urban, there are three key aspects of trust in a business context:

Confidence: "I believe what you say." This is about being honest and transparent in your communications.
Competence: "I believe you have the skills to do what you say." This is about demonstrating your expertise and delivering on your promises.
Benevolence: "I believe you're acting on my behalf." This is about putting the needs of your customers first and acting in their best interests.

To build a truly trust-based business, you need to excel in all three of these areas. It's not enough to be honest and competent if your customers don't believe you have their best interests at heart.

By focusing on these three aspects of trust, you can build a strong foundation for a successful and sustainable business.