Podcast Summary: How to Earn People's Trust — and Keep It
Podcast Information
- Title: Help Wanted
- Host/Author: Money News Network
- Description: Do you have a work problem? We have solutions. On Help Wanted, Entrepreneur editor-in-chief Jason Feifer and money expert Nicole Lapin help you stay ahead of the curve and make money doing what you love — no matter if you’re trying to impress your boss, or if you ARE the boss.
- Episode: How to Earn People's Trust — and Keep It
- Release Date: May 29, 2025
Introduction to Trust as a Gradient
In this episode, hosts Jason Feifer and Nicole Lapin delve into the nuanced concept of trust in professional and personal relationships. Jason challenges the traditional binary view of trust—where someone either trusts you or doesn’t—by introducing the idea that trust operates on a continuum. This perspective allows for a more sophisticated approach to building and maintaining trust.
Notable Quote:
“Trust is a gradient, and once you appreciate how it works, you can build and maintain trust in smarter, more careful ways.” — Jason Feifer [02:00]
The Trust Battery Concept
Jason introduces the "trust battery" metaphor, a concept popularized by Toby Lutke, CEO of Shopify. The trust battery represents the level of trust between two individuals, which can fluctuate based on interactions.
Key Points:
- Initial Charge: When people are first hired or meet, their trust battery typically starts at around 50%.
- Charging and Draining: Every interaction can either increase (charge) or decrease (drain) this battery.
- Individual Batteries: Each person maintains separate trust batteries with different individuals, meaning trust levels can vary from one relationship to another.
Notable Quote:
“Another concept we talk a lot about is something called a trust battery. It’s charged at 50% when people are first hired. And then every time you work with someone at the company, the trust battery between the two of you is either charged or discharged.” — Toby Lutke (quoted by Jason Feifer) [03:10]
Implications:
- Healthy Caution: Being mindful of the trust battery encourages individuals to consider the impact of their actions.
- Healthy Patience: Recognizing that trust builds incrementally fosters a more patient approach to relationship-building.
- Healthy Perspective: Understanding the factors that influence the trust battery prevents assumptions and promotes more thoughtful interactions.
Personal Reflection on Trust and Business Practices
Jason shares a personal anecdote where Nicole challenges his approach to self-promotion and pricing. He admits to avoiding aggressive marketing tactics to preserve his trust battery, fearing that appearing "salesy" might erode trust with his audience.
Key Points:
- Current Practices: Jason keeps his coaching prices low, rarely promotes his offerings, and turns down advertising to avoid seeming profit-driven.
- Nicole’s Challenge: Nicole suggests that Jason might be overestimating what actions drain the trust battery. She posits that certain actions, like occasional self-promotion or asking for favors within trusted relationships, could actually enhance trust.
Notable Quotes:
“Why don't you market yourself more? Why don't you raise your prices?” — Nicole Lapin [05:00]
“I turned down most advertising requests for my newsletter… I never want people to feel like I have an agenda.” — Jason Feifer [05:20]
Reflection: Jason acknowledges Nicole’s perspective, recognizing that his assumptions about what affects the trust battery may be limiting his growth. He considers that certain actions he avoided might, in fact, positively influence trust if approached thoughtfully.
18 Ways to Build Trust
Inspired by his conversation with Nicole, Jason outlines 18 actionable strategies to build and maintain trust in relationships:
- Give with No Expectation of a Return.
- Ask Deep Questions and Honor People's Answers.
- Assume Good Intentions.
- Be Curious and Genuinely Interested.
- Be Responsive.
- Be Reliable.
- Be Communicative.
- Be Patient.
- Be Additive.
- Be Predictable.
- Recognize Other People's Priorities and Prioritize Them.
- Recognize Other People's Concerns and Never Inhabit Them.
- Recognize Where People Are Coming From and Meet Them There.
- Never Be Reckless.
- When There's an Opportunity to Be Kind, Even in Small Ways, Be Kind.
- When There's an Opportunity to Be Cruel, Even if It's Tempting, Always Pass.
- If Someone Needs Time or Space, Give It to Them.
- Trust Them Too.
Notable Quote:
“Every day you have multiple chances to charge your trust battery. All it requires is your energy.” — Jason Feifer [07:30]
Discussion: Jason emphasizes that building trust is an ongoing process that requires consistent effort and intentional actions. By integrating these 18 strategies into daily interactions, individuals can effectively manage and enhance their trust batteries with others.
Conclusion and Key Takeaways
The episode wraps up with Jason reaffirming the importance of understanding and actively managing trust as a dynamic element in relationships. By viewing trust through the lens of the trust battery, listeners are encouraged to adopt a more strategic and empathetic approach to building lasting professional and personal connections.
Final Thoughts: Jason acknowledges that maintaining a high trust battery is challenging but achievable with mindful actions and self-awareness. He encourages listeners to apply the 18 strategies discussed to foster stronger, more trustworthy relationships.
Notable Quote:
“I think maybe you'll subscribe to my newsletter and you'll love it and you'll trust me even more.” — Jason Feifer [08:45]
Key Takeaways:
- Trust is Not Binary: Recognizing trust as a gradient allows for more nuanced relationship management.
- Trust Battery Metaphor: Each relationship has its own trust level that can be managed by daily interactions.
- Actionable Strategies: Implementing specific behaviors can effectively build and maintain trust.
- Self-Reflection: Challenging personal assumptions about trust can lead to growth and improved relationships.
By understanding and applying these principles, listeners can enhance their ability to earn and keep people's trust, fostering more meaningful and productive interactions in both their professional and personal lives.