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October 9, 2024

The Power of Know, Like, and Trust in Business Relationships

Before 2016, I was doing what most business owners do—giving my 60-second elevator pitch about iQuest, talking about who we are, what we do, and why you should buy from us. The goal? To push our products and services. But one question always stuck with me: Why should someone buy from me after just a 10-minute conversation? The reality is, most people won’t.

It wasn’t until after 2016 that the lightbulb went off. I realized that pushing for a sale right away was all wrong. Business, especially at iQuest, is relationship-based, not transactional. People buy from those they know, like, and trust. If you haven’t established that foundation, you're just another business trying to make a quick sale.

From Pushing Products to Building Relationships

In today’s world, the focus needs to shift from "How can I sell you this?" to "How can I get to know you?" It’s get to know people first, business second. That’s a fundamental shift in mindset, and it’s a powerful one.

At iQuest, we’ve built our business on relationships, not transactions. That’s why our approach now is simple: We work with people we know, like, and trust—and expect the same in return. It’s a two-way street. This approach doesn't just lead to sales, it builds long-lasting partnerships.

Think about it: When was the last time you made a significant purchase from someone you didn’t trust? Probably never. Whether it’s choosing an IT service provider, a lawyer, or even a car dealership—trust is the cornerstone of any relationship.

A Real-World Example

Here’s a real-life example of how know, like, and trust plays out in business. One of our long-standing clients recently appointed a new CEO. The moment we met, we knew it would be difficult to maintain the relationship. Through my network, I learned that she was connected to one of our competitors and had plans to bring in "her people" to replace us.

She didn’t know us, didn’t like us, and certainly didn’t trust us. Despite providing exceptional service to that client for years, it didn’t matter in her eyes. In business, these situations are inevitable. You can be providing the best service out there, but without trust, it’s easy for someone new to push you out. And let’s face it, some days you win, some days you lose.

Why Know, Like, and Trust Matter More Than Ever

In business today, it’s not just about offering the best product or service. People are overwhelmed with choices. The real differentiator is how well they know you, how much they like you, and most importantly, whether they trust you. That’s where the magic happens.

Take a look at your own business. Are you building relationships first? Or are you too focused on closing the deal right away? Trust is something you can’t rush, and once you have it, it’s incredibly powerful. At iQuest, we believe that if we build trust first, the business follows naturally.

Practical Takeaways for Building Trust

  1. Start with a Conversation, Not a Pitch – Get to know the person before you try to do business. Ask questions, listen, and understand their needs.
  2. Be Genuine – People can sense when you’re not being authentic. Be yourself, and let them get to know the real you.
  3. Focus on the Relationship – Business comes and goes, but relationships last. Cultivate those relationships, even when there’s no immediate transaction in sight.
  4. Trust is Earned, Not Given – Show your clients you’re reliable. Be consistent, follow through on your promises, and don’t just talk the talk—walk the walk.
  5. Accept That You Can’t Win Them All – As with the new CEO we encountered, sometimes the cards are stacked against you. That’s just business. Focus on what you can control—building relationships that can weather any storm.

Final Thoughts

At the end of the day, people buy from those they know, like, and trust. It sounds simple, but many businesses overlook this. Building a relationship first makes everything else fall into place. Without trust, you’re just another business in a sea of options. With trust, you’re a partner—and that’s invaluable.

So, ask yourself: Are you building relationships, or just closing transactions?

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