Skip to main content

Growth through Trust

By


At no other time in history is ‘trust’ more important for business than today. Trust fuels businesses, helps them not just survive the many onslaughts of a competitive global economy, but sustain and thrive. And I speak from experience.

The fifth branch of Golden Square that is getting ready to welcome customers at Bangalore CBD South is a direct result of Trust built over the years and I am both proud and humbled to share this story with you.

First, I would like to express my heartfelt gratitude to Narendra Bhatta for referring me to the owners of the building. Narendra Bhatta is the Founder Partner and CEO of Intellocopia a leading consulting firm in the area of Intellectual Property, which helps small and medium businesses realize value through effective protection, management and enforcement of various IPRs, namely, Patents, Trademarks, Copyrights, and Design.

Now let me share how the referral came to be.

Speed of Trust:

I was at a networking meeting at BNI Inspire chapter, when Narendra Bhatta introduced me glowingly to a lady and told her: “You have to meet Balaji he has the solution you need.” The lady had a bunch of pamphlets with her. She was trying to find the right tenant for a building she owned. Since I was surrounded by people all I said was, "Madam, we can help you get double the return from your building if we can manage your building as a Golden Square Business Centre. Let me know if you would be interested," and I gave her my card. I thanked Narendra for introducing us.

A few weeks later I got a call from the lady's husband, he said he was interested in taking this further.

This demonstrated to me the speed of trust. If it wasn’t for the confidence with which Narendra introduced me at the networking event which gave me visibility, I doubt this opportunity would have ever happened and that too, with such speed. Do compare this with a typical sales process.

Trust takes time:

So I asked Narendra, “Why did you refer me?” and he said, "When I spoke to the lady regarding her property, during networking, she expressed a desire for letting out the entire property to someone trusted and wanted to build value to the property. The words ‘TRUST’ and ‘VALUE’ although they appear distinct are related and symbiotic. While I knew a person who was into property rentals, only one person I knew of, who could link trust and value, seamlessly was YOU. I, personally Trust you, since I know you for long and have seen how properties and businesses increase value when they get on to Golden Square, so I told her I know the ONLY person who can help you do this and connected her to you.”

Frankly, I am humbled by what Narendra shared with me, I do pray I live up to the expectations he has of me. I wondered how it was that Narendra got so much confidence in me.

I got to know Narendra when I was helping him and some other entrepreneurs set up their networking group BNI Inspire, about five years back. I never really talked about Golden Square, but focused on helping him build their network. Narendra and I got along well, I understood his business and over the years have passed on a few referrals to him. So the relationship did take some time to develop and over time we got to know each other better. My learning from this: To build trust, people need to see us delivering on our promises over time. Trust happens because of several well-done interactions.

Cannot Happen without Trust:-

We have a revenue share arrangement with the building owners, there is a lot of investment that the owners need to bring in, both in the building and the interiors to meet the specifications of Golden Square. That is the reason why Golden Square’s expansion cannot happen without trust. And trust can only happen over time with our business network. How the trust translates to business is random, there is no linearity to this. However trust does translate to business, I can say this with confidence because 3 out of our 5 branches till date has happened because of a referral. One from a customer and two from the BNI Business Network.

So what do you think is the most valuable business commodity? I haven’t an iota of doubt on this question. My answer is “Trust”. What’s yours?
Labels:

Comments

Venkat said…
Beautiful & very articulated Balaji. Not only this highlights the TRUST that Narendra has in you but the power of knowing each other & only shows what a Reference can do for one. It is not only a GAIN for you but also for that lady who are searching. Reference is a TWO WAY process.

Way to go Narendra & Balaji.
December 02, 2015
Anonymous said…
Congrats Balaji. Yes Trust is the most important factor to do business.
All the Best.
Regards,
KCN Reddy
Chinthala Group
December 02, 2015
Unknown said…
Yes Balaji, I agree with your answer that TRUST is the most essential commodity. Both trust in your character and ability to deliver.
December 08, 2015
Post a Comment

Popular posts from this blog

Are You a Tech Startup Yearning To Create Societal Impact?

By
Hello there !!! Are you a tech startup yearning to create societal impact? If yes, then it’s time for you to be the torchbearers of a sustainable future. Lab32 is back to empowering you with the right skills and guidance required to scale your startup.  Facilitated by leading consultants, mentors & entrepreneurs, Golden Square  and T-Hub’s Lab32 is all set to enable startups to race towards their goals. This three-month-long sector agnostic program empowers ‘Minimum Viable Product (MVP) Ready’ startups to crack their product-market fit and Go-To-Market strategies. Program Benefits Business model refinement  by addressing the key features and crucial aspects of the startup’s core strategy  Failure rate reduction  by setting up milestone-based objectives & assessments    Nurtures growth mindset  to scale & expand the business  Helps startups identify crucial pitfalls , assess problems, and find solutions in their journey  Provides relevant connections  with leading industry p
3 comments
Read more

3 Ways in Which Co-working Enhances Productivity

By
Work is worship is what we’ve all grown up listening to, and by this very definition it is an exercise that is meditative, absorbing and indulgent. The purpose of work as defined by us has undergone a significant shift through the years. What began as a single-minded practical means to earn a livelihood, then became one of engagement and collaboration with fellow workers. The definition of work today isn’t just about earning for the self, but also ensuring that we are happy doing what we do. Being productive is therefore about getting the maximum done out of the few hours we put into work everyday. Different people work in different spaces and there are varying factors that affect productivity. While some work all by themselves and love their flexible timings, others work with organisations that focus on specific tasks and goals. Co-working falls midway between these two extremes. It allows professionals to go about their own tasks but also provides the opportunity to collaborat
5 comments
Read more

4 Features of the Ideal CA Office

By
  4 Features of the Ideal CA Office And how the pandemic has affected them When you hear about a Chartered Accountant and the nature of their work, a very clear image forms in your mind- A highly qualified and specialized individual in a full but tidy office stacked with files, bills, receipts, and documents, structured and organized in a way that only they can navigate. Needless to say, a CA may be very keen about their office space preferences. But what exactly does an Accounting Firm or Chartered Accountant look for in an office? What are the needs that an office needs to fulfill? Have these needs changed since the pandemic and lockdown? Here’s what we found out after speaking to a number of professionals: The unifying theme? Every practicing CA or Accounting firm, first and foremost, needs an office setup that is ‘Neat, Clean and Organized’. This is considered in the following aspects of office space: 1. Layout & Design Design and layout require attention to detail, as the in
10 comments
Read more