The Trust Equation: How to be Trusted by Clients and Colleagues
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- เผยแพร่เมื่อ 7 มิ.ย. 2024
- Many professionals want to learn to be trusted by clients and colleagues. The trust equation can be a helpful concept to learn about. How do you build trust at work? How to be trusted by clients and colleagues? The trust equation was first described by David Maister in his book "The Trusted Advisor". It is taught in onboarding training programs of many large consulting firms such as MBB, that is McKinsey, BCG and Bain. Building trust with clients and colleagues is a key skill for every consultant. Management consultants need to master this key consulting skill, it is a true consulting 101 for every consulting business. In this video I talk about credibility, reliability, intimacy and self-orientation - the 4 components of the trust equation. How to build trust at work is crucial not only for consultants but for industry professionals and for bankers as well. If you are a sales professional working in enterprise sales, trust-based selling will be important to you as well.
Chapters
00:00 Introduction
01:37 What is the Trust Equation
03:17 Credibility
04:41 Reliability
06:06 Intimacy
07:24 Self-Orientation
09:40 Wrap-up
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This is becoming my favorite channel
Thanks so much for your kind message Daniel. Super happy to hear you find the videos helpful :) Best! Heinrich
Dude that opener with the snow angel: Heinrich is the man.
Thanks Joshua ;) Best from Germany! Heinrich
Love the real world examples and actionable learnings. Amazing how much snow there is in Germany, no snow at all here in san francisco
Hi Ben, thanks for your comment! Indeed, this much snow is very rare in Germany. For sure nothing compared to the California sun though :) Best! Heinrich
Thank You Heinrich, I like how you show it in the equation form and it makes it so easy to remember.
Hi Chan, thanks so much, great to hear you found the video helpful!! :) Best, Heinrich
Put others in the spotlight and make them look good in front of their colleagues and managers is gold. I focus on doing this every chance I get. It's a great way to stand out from the crowd as someone who really cares about others. Love your channel.
Awesome, thanks for sharing your experience as well :) Indeed a great rule to follow, agree. Best! Heinrich
I purchased the Business presentation Course and I highly recommend it, especially if you are at the beginning of your career. Fantastic video with great content, Heinrich. Quality is clearly improving. Thanks for that.
sounds like one of those LinkedIn recommendations or fake comments to SOE
Hi Alessio, appreciate it, great to hear that you see an improvement in the videos. Doing my best :) Cheers, Heinrich
This is an excellent video for all professionals whether or not you’re working in consulting.
Happy to hear you enjoyed it, thank you for watching Harshita! Best, Heinrich
The best consulting content on YT by a mile!
Super happy to hear that - thank you!! Heinrich
I was an internal auditor until recently and building trust was very important too. Making it a two-way street was key as you say. What I did was to give regular updates on good and bad things I was finding in my audit. Therefore auditees felt I was giving something back to them. And if there were contentious findings, I could introduce those at an early stage and therefore clarify facts and get people on side early, and prevent surprises.
Hi Alistair, thank you for sharing your experiences as an auditor, great perspective! Appreciate it :) Best, Heinrich
To the point video. Thanks for sharing your knowledge and experience!
Excellent information. Great point about “creating” opportunities to show you will call or email at a specific time.
Excelent video!
Thank you. Essenceful as always
Great to hear, thanks for watching! :)
Watching this, few thoughts come to mind:
1- that consultant are often met with resistance throughout different stages of their mission.
2- if we have many stakeholders, then building trust with everyone seems complex and demanding.
3- one must be constantly aware of the trust equation when on a mission from A to Z.
So if my thoughts make any sense,
- why do consultants face such resistance?
- should we constantly thrive to build trust with all stakeholders involved? or just focus on the project sponsor?
- when can we know that we have established trust? or is it really continuous process until the end of a project?
Thank you so much Heinrich, as usual important topics and insightful explanations... Enjoy the snow :)
Hi Elias, thank you for sharing your thoughts and this very thoughtful comment. Indeed a lot of important topics and questions that you are raising. Might pick some of them up in future videos :) All the best from Germany!! Heinrich
High-quality, actionable advice up to your usual standard! Thanks Heinrich!
Thank you Joran, great to hear you find it useful! Best, Heinrich
Another great video Heinrich, the Trust Equation goes way beyond consulting and one's working life - it is the key to successful personal relationships and enduring friendships too. At time we all take friends too much for granted and forget friendship is a two-way relationship.
sounds like one of those LinkedIn recommendations or fake comments to SOE
Hi Derran, thanks for your comment. Fully agree, building trust is important beyond the workplace :) Best! Heinrich
@@paulmanger2346 LOL. You think trust , or being truthful is fake. Every human should practice being 100% honest all of the time.
@@ediewall6360 grow up, the consulting business is not about " truth" its about profit,"fit for purpose" and a revenue tail if possible.
Thank you Heinrich, this is probably the most useful video I watched on your channel so far
Hi Anton, super happy to hear that the video resonated. Thank you for watching! Best and thanks, Heinrich
Always very interesting to listen to your vids. Have already implemented some of the knowledge you’ve shared into my own work. Like for examples how to take notes and structuring folders by using numbers and more. From today, I think building trust by coming up with own commitments was the best thing and something everyone can do.
Hi Gustav, thanks for your comment. Great to hear you were able to take some actionable insights away from the video. Thanks for being a regular watcher :) Best! Heinrich
Good topic. Thank u
Thank YOU for watching Kenneth! Best, Heinrich
Great tips, Thanks!
Thanks for watching! :)
This channel is helping me sooo much right now. I hope this comment can help for the youtube algorithm! Thank you so much Heinrich!
Thank you Tristan, much appreciated. Great to hear you find the video helpful! :) Best, Heinrich
Great first 10 secs ;)
Enjoy the snow and great content as always
Thank YOU for watching Shyam, much appreciated! Best, Heinrich
Working in consulting and I think this is very true and a great video explaining it!
Super happy to hear that, thanks for watching and your comment! Best, Heinrich
Comment for the algorhythm! Also liked :) Thank YOU Heinrich!
Much appreciated - thank you!! Heinrich
10sec in, already love it👍👍👍
Thank you Divine!! :) Best, Heinrich
Another great video!
Thank you Oliver!! Best, Heinrich
Great video Heinrich. Will adding the book to the reading list 👍🏻
Thanks Damien. Yes, hope you like it :) Best! Heinrich
Heinrich, love the advice to “put your self into little situations where you can show your reliability”.
Thanks for the equation … reminds me of a staff feedback session I had with a senior client once. The exec said “Bob is really professional, knows his stuff and get things done. I rate him very highly” then he paused and said “but”. The “but” was all about the individual’s agenda. The exec felt this person was never on their agenda… and always on their own. High performer …. “but” … damning feedback.
I am glad that you found his helpful! Thanks for sharing!
Hammer content Heinrich!
Danke dir!! LG, Heinrich
Brilliant content, Heinrich. Just subscribed to your channel. Greetings from London!
Hi Hoder, thanks for your comment. Always great to hear if the videos are helpful :) Much appreciated! Best, Heinrich
Hi Heinrich, great video and topic! picking on the subject of authenticity that someone in the comments brought up, in my experience it goes to how self-centred you are. People that pretend to be empathetic and generous will always show their true colours, eventually. If you truly are someone that can collaborate and really care about your clients/colleagues work, the denominator of the equation gets so small, that rarely has an impact in building trust. Being generous and empathetic - and please I want to be clear here, all of this in a professional, work context - will actually help to bring up the reliability and intimacy factors. The credibility one, is up to oneself to constantly improve.
Hi Hans, thank you for your comment and sharing your insights. Makes a lot of sense to me, trust this will also be helpful to others reading this. Thanks for your contribution! Best, Heinrich
Great insights thanks for sharing!
sounds like one of those LinkedIn recommendations or fake comments to SOE
Thanks for watching!
It’s beautiful where you are Heinrich. I’d add one other thing - authenticity. You can always tell when people are just applying the formula but they’re not genuine and haven’t got your interests at heart.
Hi Roman, thanks, yes fully agree - authenticity is important. Easier said than done though. Feel like this is almost a philosophical question - what does it mean to "be authentic" or to "be oneself" :) Best! Heinrich
You did replied all the replies!
Indeed, will continue to do so as long as it is somehow manageable :) Thanks for being a regular viewer! Best, Heinrich
Great video as always, Heinrich! I noticed that since you started premiering your videos, the average number of views has decreased a little. Of course correlation doesn't imply causation, and this could be due only to the fact that not as many people are interested in the topics of recent videos-but I've seen other youtubers reporting a significant decrease in views when they started premiering their videos as well. Just something to keep an eye on.
Hi Vitor, thanks, interesting observation. Indeed also asking myself whether these Premieres really help. Might switch back to regular releases in the future. Best! Heinrich
Best vid
Thank you, much appreciated!! Best, Heinrich
Hi Heinrich,
when is the course available where you teach us to necessary skills for the first years of our careers? In one video you said you´ll be working on it. I´d definately buy it to jumpstart my career this summer.
Hi Maximilian, thanks for the comment. Yes, it is still planned :) Currently quite swamped with work but hope that I have more time soon. Indeed hope to release it before summer! Best, Heinrich
I ask the person who is helping me what their boss expects from them coming out of a project. Then I tell the person that I want to help them deliver exactly what is expected and "Make Her A Rock Star!" Then we do that. Very effective!
Hi Kevin, thanks for sharing! Indeed trust that this is a great approach :) Best from Germany! Heinrich
Hi Heinrich, thanks for a great video. Can you give your thoughts on the comparison between large consulting firms (like MBB & Big 4) vs small firms (>100 employees)?
Hi Habib, thanks for watching! Indeed an interesting topic. Might pick this up for a future video! Best, Heinrich
Thank you Heinrich, very interesting concept. I'm wondering whether this is a universal equation or if this is very dependent upon the culture within the country and company. What do you think of this?
Hi Marijn, can very well imagine that cultural elements play into this. What do you think? :) Best, Heinrich
Hey, your videos are super helpful. Can you please suggest why new joiners have some days where they make lots of errors and how can they avoid such situations? That tarnishes image,how build reputation back?
Hi Chhaya, thanks for your comment. Indeed whenever one makes mistakes as a new joiner, it is beneficial to ask oneself what structure or processes one can set in place to prevent it to happen again. E.g., what I once did after I noticed that I once again did several little errors in a presentation, I created a checklist for myself to go over whenever sending out a slide deck. E.g., checking footnotes, checking numbers included in action titles etc. Lots of success to you!! Heinrich
@@FirmLearning Thank you!!
Hey Heinrich, can you please make one video on these 'Pivot' tables etc in Excel? I had a talk with one of my senior managers yesterday, and to quote him "Consultants 'live and breathe' pivot tables". I want to know what are these and how are they so important to a consultant. Can you make one, maybe with a use-case example from consulting?
Hi John, thanks for the comment! Pivot tables are indeed super powerful and a great tool in Excel. Best thing is also that they are not too difficult to use. Might pick this up in a future video! :) Best, Heinrich
@@FirmLearning Thanks a lot Heinrich!
Hi Hinerick! I have been wondering when a client asks you what is the process used to get a certain result fpr example, do you share everything with them? The company i work with is in environmental consulting and they keep the calculators and calculations process vague, and they just provide the result in the annual report for example. I diagree with them, i like to empower my clients for everything i can so one day they can do it themselves, i found my value in that. My company wants o stay vague so the client will pay them again for future calculations, what would you do if you were in my place? Do you agree with my company strategy?
Hi Batool, thanks for your comment! Of course will depend a bit on the specific circumstances, but in most cases at least at MBB you will be happy to share your calculation model with the client and try to empower the client to also learn and understand it. This of course also makes sense regarding skill building. Best! Heinrich
Hallo Heinrich, was ist wenn man große Auswertungen muss. Gibt es Prinzipien die man beachten muss? Gibt es gute Onlinekurse etc. dazu?
Hi Joe, was genau meinst du mit "große Auswertungen"? LG
Loooool here for consulting, stayed for the snow angel 👼🏻
Love it - thanks for watching! ;) Best! Heinrich
I saw your CV, not being practical I ask you, are you completing the PhD?
Hi Roberta, at this moment I am still planning to complete it, yes! :) Best, Heinrich
@@FirmLearning but you are studying for your phd and working in the firm simultaneously? Cool , best Roberta
I was just thinking about how I can make my boss trust me
Sounds like this video might be helpful :) Thanks for watching!! Best, Heinrich
He talks and expresses exactly how I image a stereotypical german bwler.
Gj though
Guess I cannot deny who I am ;) Thanks for watching! Heinrich
Awesome content but I cannot stand 6 commercial breaks in 10 minutes. Please do not overdo it Heinrich.
Hi, sorry to hear you had this experience. Did not set 6 breaks on purpose. Unfortunately this seems to be a new Google tactics to play 2 ads one after the other in one slot, also already noticed this on some other videos.. unfortunately as far as I know I cannot influence these "double ads" on my end... but will continue to observe this, thanks for letting me know! Best, Heinrich
Ex McKinsey, maybe it was a personality issue? (partners are selective on long term partners), great content, I find the delivery of the content, challenging maybe tone it down man, I'm not here for your "personality" just the content and insights,
Hi Paul, thanks for the Feedback! Will for sure continue to work on my delivery. Best, Heinrich
@@FirmLearning I disagree. You seem so excited and your love of what you are doing really comes through. Let your personality shine dude!
Step 1: Get an amazing accent
Guess I take this as a compliment ;) Thanks for watching! Best, Heinrich