If cashflow is King, credibility is Queen

Credibility can take a lifetime to establish, yet it can be stripped from you at light speed. I can speak from experience – one erroneous move, fumble or stumble can take you many years to recover.

Credibility in business is a great deal like a credit rating in our personal life. One or two black marks on your profile and no bank will take a risk on you, for five years at least. And why should they, if you fail to demonstrate a trustworthy past?

Often business people are quick to assert a sense of importance or superiority upon customers. They offer a glowing account of themselves and how adept they are at their craft.

Credibility is not something you can demand from others, analogous to “respect”, it must be earned.

To be credible, you must demonstrate a proven track record over an extended period in whatever it is you do. Walk the talk and make it obvious how many times your tired shoes have trodden this path.

Mistakes and, more importantly, how you deal with and learn from them, also helps to build cred.

In early stages of business, the battle with cashflow and credibility is an obvious and tiresome one.  But which should you focus on achieving first?

Cashflow is of course King, but don’t underestimate the Queen as she often wears the pants.

A business can survive with strong cashflow and poor credibly, but its days are numbered and potential limited. Likewise, a company bursting with credibility won’t last long without cashflow.

Both King and Queen are vital to your long-term commercial success. Acts of treason will result in a swift and sharp demise!

For more Selling Strategies advice, click here.

Trent Leyshan is the founder and CEO of BOOM Sales! a leading sales training and sales development specialist. He is also the creator of The NAKED Salesman, BOOMOLOGY! RetroService, and the Empathy Selling Process.