“No room for flimflammery or deceit” in business

"No room for flimflammery or deceit" in business
Trust me – I’m a businessman

An article in Fast Company magazine explains that as technology allows consumers to easily see what’s going on inside businesses, consumers gain more power by being able to compare prices and get better deals. But how can a company compete if it can’t compete on price? Author Don Peppers proposes one way to get a competitive advantage that’s the opposite of being dishonest: Use extreme trust.

This may be the strongest strategy of all, because it makes it likely your customers themselves will want you to succeed. Being proactively trustworthy (we call it "trustable") requires you to watch out for your customer’s interest even when your customer isn’t paying attention. For instance, if you try to buy something from iTunes that you already bought, they’ll remind you that you already own it. Ditto Amazon. Extreme trust like this engages people’s natural impulse to show empathy, transcending the commercial domain of monetary incentives and tapping into the social domain of friendship, sharing, and reciprocity. And extreme trust should be even easier for a physical store to earn, because most people find it easier to trust other people they come face to face with.

The Only Lasting Competitive Advantage Is Extreme Trust, Fast Company>>

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