What guarantees does your business have? How do I know you can do what you say you can?

This is a problem for businesses small or large. The best ones are up front about the guarantees.

Elon Musk recently said he can solve the electricity issues in Western Australia in 100 days or else it's free. A wise person only makes that claim if he knows he can pull it off.

Which means, Musk had reverse engineered the entire problem from start to finish and knew that his company/team could do it.

So he made the guarantee.

Part of the problem of doing business in Africa is that we don't have solid guarantees from our environment.

  • We're not sure if we'll get the license to conduct business.
  • We're not sure if we'll be treated fairly by the revenue authorities.
  • We're not confident if we can trust the guarantees of our supplies, vendors, and partners. 

It's a domino effect. One broken guarantee leads to a systemic breakdown.

How do you reverse this curse? I think it comes from an internal belief and resolve that you will only make guarantees that you can keep. Then you build trust with the people you work with and transact with.

Over time, you transfer your culture deliberately and intentionally that when a guarantee is spoken, it's then written, agreed upon, and fulfilled.

Those types of guarantees are ones that you can build a solid foundation on.

A few questions for you today:

  1. Can people trust your guarantees?
  2. Do you know someone who’s guarantee is as good as gold? Why do you trust them & how can you emulate their solid trust?

(photo via thomas hawk)