Five letters that can make magic in your family business

The success of a business is largely dependent on the success of its people. The success of the people depends on how successfully they work with each other to achieve common goals. Every business breakdown is basically a breakdown in the ability of people to work with each other.

There is however a magic ingredient – a single thing – that can transform the way people interact with each other. It can erase social differences, it can make up for differences in ability, it can mend fences, it can motivate, it can inspire – in short, it can work a powerful magic.

That ingredient is trust. Simple but unimaginably powerful.

Trust enables people to connect deeply and create shared meanings. In a knowledge economy, where people need to not only bring their brains but their hearts to work, they need a vibrant ecosystem of shared values and trust. Of course, there are as many kinds and degrees of trust as there are people.

In fact, creating a trusting environment is one of the primary responsibilities of the business founder. Many management leaders who struggle to build a corporate culture forget to realize that an absence of an atmosphere of trust can dissipate any artificial efforts to build culture.

To be Continued...

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