Trending Tech Terms: 7 Phrases and Acronyms to Know in 2018
You’re hustling through every day, caught up in the whirlwind of building a startup. Your business model is solid, funding is great and you have the right talent in place to really make a difference.
But if there’s a lack of trust among your team, you’re almost guaranteed to fail.
Trust is a critical part of any young, growing company. According to an article in the Harvard Business Review, people at high-trust companies report 74% less stress, 50% higher productivity and 40% less burnout than people at low-trust companies. When employees trust their leadership, they move together toward a common goal. When leaders trust their employees, the team is empowered to do great work.
Giving customers a glimpse inside your company’s inner workings can be a great way to build trust among your target audience. But what about building trust inside your team?
Drawing from his experience building several startups, Powers is building an atmosphere of honesty and openness to enable his team members to tap into their potential. “We try to be very open, have fun, and build everything together,” says Powers. “Everybody has a say in the culture.”
Powers’ recipe for a winning culture is a mixture of transparency, collaboration and trust. But the first step to building trust in your culture? Confidence. Powers warns, “Don’t try to start something unless you’re confident in what you’re doing, and in yourself.”
Watch the video below to learn Powers’ best strategies for creating transparency and trust in your company culture: