Dare to Trust and the birth of Trustpoint Property Solutions

I have spent significant time in the past 5 years in Property & Purchase Management Operations in RWAs (Resident Welfare Associations) and a hotel run by a Charitable Trust. It is ironic what the greatest operational challenge while working with vendors, Trust managements or even RWAs is: Trust. 

I identified the following 5 building blocks in the arduous yet fulfilling journey to build Trust during my extensive interactions with vendors & managements: 

1. Trust starts small. It reflects in the small things. Much like SIPs in Mutual Funds. Trust reflects in the humdrum of daily mundane interactions. The promptness,  quality and politeness of reverts. "Whoever is careless with the truth in small matters cannot be trusted with important matters." Albert Einstein.

2. Trust builds with objective and rigorous analytics. Our ability to engage with partners on behavioral issues dispassionately without prejudice. The greater the objectivity, the greater the trust-dividend payout.

3. Trust is expedited with empathy. When  you  prod vendors  to raise bills on time to ensure timely payouts. When you treat them as partners with respect. When you abundantly use ‘Thanks’ when vendors satisfy agreed SLAs (Service Level Agreements). 

4. Trust is boosted with Transparency: Contracts based on diligently drafted scope-of-work, with SLA-payouts clearly delineated, magnify trust. Transparent trackers for periodic SLA reviews with vendors which are also accessible to them for ready reference. 

5. Trust is Fragile. Unfortunately. Needs maturity and forbearance. "It takes 20 years to build a reputation and five minutes to ruin it." Warren Buffett. One uncontrolled outburst can puncture trust. Lack of moderation, ruptures trust; and much like  a broken thread,  the knots remain even if you mend.

No wonder, Trust needs humility and  patience.  

Copious Trust helps in crisis-management. "When the trust account is high, communication is easy, instant, and effective." Stephen R. Covey

For brands, says Edelman Trust Report:  ‘Fundamentally, trust acts as a critical gateway from consideration to purchase to loyalty, deepening the relationship between brands and consumers.’ Trust allows brands to be better equipped to navigate disruption, seize opportunities, engage and act responsibly.

In the Edelman Trust Barometer (2024),  India & China score high on the Trust Index in the 28 countries surveyed with developing countries doing better. India improved its score over last year. However, it is ironic that for Global 28, online beats family, friends, and social media as sources of information ‘I can trust’ (Question: This is where I get most of my information about new technologies and innovations). What’s our own Trusting Index? Do we differ in our abilities to trust one another? Is it personality-oriented or swayed by the culture we are reared in?

On the flip side, is trusting too much akin to gullibility? Can we be undermined, bruised and betrayed by the dreaded ‘breach of trust’?  I feel it's Hobson's choice. Is there an alternative to Trust? Says Edelman, ‘We believe Trust is the ultimate currency’. It is better to live life ‘trusting people’ and being disenchanted occasionally than live in lifelong skepticism. ‘You may be deceived if you trust too much, but you will live in torment unless you trust enough.” – Frank Crane.’ 

When the time came to set up our own firm in Property & Purchase Process Management, I found Trust staring down at me. Trust is the sine qua non for survival, let alone thrive, in the Service Industry ( why, in all aspects of life, isn’t it?). Hence, was born TRUSTPOINT Property Solutions LLP ( https://www.trustpoint.co.in/ ) which undertakes Property & Purchase Process management apart from supporting Business Processes. The aim clearly is to gain enduring Trust all around: with customers, vendors, consultants and staff. Bob Vanourek, author of Triple Crown Leadership says: "Trust is built when someone is vulnerable and not taken advantage of."

(Shiv Vadrewu- trustpoint.hyd@gmail.com)