Matt describes how to build trust in your business value equation. This is a crucial aspect of running a successful business with clients who actually enjoy your product or service.

Andrew Jackson gave a talk on this, which you can watch here and learn more about here.

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What is Trust and How Do You Increase It?

Trust, in the business value equation, is the difference between the client's perceived value and the price. Increasing this difference - increasing trust - leads to happy customers who do not want to leave. This lays the foundation for creating a successful business.

How do you build trust as a coach (or really in any business)? Matt discusses three components.

1. ability
2. integrity
3. benevolence

Below, we define these and discuss how to boost each one, which ultimately grows trust.

How to Build Trust

Matt discusses useful short definitions of each of these that help you remember the difference.

• ability - you can
• integrity - you do
• benevolence - do you care

Your ability is your expertise, your skill, your knowledge. People hire you in part because of this. You have the expertise, which they lack, to solve their problem.

Of course, a friend or acquaintance may have recommended you. Your expertise played into this recommendation, but your integrity and benevolence did as well.

Integrity should increase over time. Do you do what you say you will. Do you show up on time.

You will make mistakes, so you must constantly build up your integrity account. A mistake is a withdrawal, so be intentional about building up this integrity after a mistake.

Lastly, benevolence is that you care. As someone's coach, you should care more about your clients' training besides themselves.

Benevolence also should increase over time.

Your clients' perceptions of these is what matters. You might think you're a highly-skilled coach which high integrity and benevolence. If your clients think otherwise, you might want to reevaluate what you're doing.

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