Ask any shareholder who has successfully sold their business, or acquired another, to state the most important aspects of the transaction. Invariably they will mention trust: trust in their advisors and trust in the counter party. Without this high level of trust, it is almost impossible to complete a transaction.
Trust is the bedrock of relationships. It supports understanding, giving a clear picture of why the buyer is interested and what they really want to achieve. When trust leads to clarity, both sides can carve out value.
Trust can be built by saying yes, but also no. Saying no to a new commitment before honouring an existing one. No until terms are made clearer. Or no until a clearly defined hurdle is overcome.
This is where EQ matters. Without it, No is a barrier. With it, the application of integrity and honesty builds the trust needed to achieve a successful conclusion. #entrepreneur #startups #management