Again and again, in working with business families, the subject of “trust” arises.  Sometimes it’s about intent and fairness, sometimes it’s about consistency, and sometimes it’s about honesty.  Some colleagues of ours, Tom Hubler and Ernesto Poza, perform research and write articles around “trust.”  They offer the following definition:

 “Trust is not an article of faith among adults. As adults, trust comes from information, reliability and predictability, accessibility, shared goals, emotional bonds, a sense of fairness and transparency…Trust is a reciprocal relationship premised upon shared reliance, both behaviorally and emotionally.”

We agree with the following requisites of trust:

• Trust must be cultivated and nourished in order to survive
• Trust requires that partners act in expected ways (that doesn’t mean people won’t occasionally step on each others’ toes)
• Partners must be able to forgive (move on)
• Trust requires action and a willingness to contribute to the “common good”

We agree with Hubler’s suggestion that “structure” supports “trust.”

• Structure preserves trust because structure, discipline and formality provide predictability and clarity around expectations
• This requires goal setting and policy making and building a sense of unity

So let’s get personal.  How is “trust” a topic of interest in your family enterprise and what can you do to support it?

Source: Tom Hubler and Ernesto Poza: The Trust Paradox