Home » Finance

Moneymaking and the Trust Deficit

Jul 16, 2008
You see a guy on the street. He's wearing a trench coat and he's got a few days of razor stubble on a chin that pokes out from under his fedora. You're experience begins when he says, "Psssst. Hey you. Come here for a minute."

He opens the folds of his coat to show a makeshift wrack of designer watches he can sell at a 'discount'. What would convince you to buy from this man?

Needless to say I've been up watching late night movies about old time New York, but the truth is there is something about this visual representation we've all seen in movies, television and commercials that has a bearing on moneymaking ideas.

The mechanism that allows consumers to part with their cash in exchange for a product is the belief that you are a reputable individual and that you sell a quality product. In essence the common theme for virtually any transaction is a confident level of trust.

In the case of our fedora wearing street jeweler the only real tactic he might have in convincing you to make a purchase is intimidation. If you purchase an item from the point of view of one who has been coerced you will likely never be happy with the purchase, the seller or the perceived quality of your goods.

Your reputation has extreme value when contemplating any moneymaking idea. You may think the opinions of others don't' really matter much, and perhaps in some instances you would be correct to think this way, but not when it comes to business.

If you have a negative reputation then this is the trust deficit you must work with in relation to building a successful business. You will have to earn trust and you must prove that your reputation is different. This can be hard work, but it must be done if you want the greatest success in your business venture.

If your trust bank is already full you have a powerful business building position to work from. When people already trust you they are more likely to consider the possibilities of what your business idea might offer them.

A reputation is a lot like money, you can throw it away on a lot of things, but it can be very hard to earn back honestly.

Think of men and women released from prison. They begin their lives outside prison with a trust deficit. Many find it hard to exist in this void and often becomes repeat offenders because it is easier to simply go with the path of least resistance - even if that means finding themselves back in a place they didn't want to be.

In business and in life this is the wrong choice. The path of least resistance always means making choices that only serve to diminish trust - not build it up. The path of least resistance means the potential of a short-term sale, but no substance to bring that individual back.

If you have a good reputation, use it to get your moneymaking business on the fast track. If you struggle with your reputation work to make exceptional choices, reduce the trust deficit and keep making deposits that can bring you future success.

It all starts with your next choice.
About the Author
Scott L. Phelps is a leading online entrepreneur and owns a successful internet company. Learn to Make Money Online, How To Make Money, and Make Money From Home at MakeMoneyFacts.
Rating:
Please Rate:
(Average: Not rated)
Views: 179
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources