Principles of Building Entrepreneurial Success

The Principle of Trustworthiness

Wisdom to Take Away

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  • Trust is one of the most important qualities in business. In other words, entrepreneurs must be worthy of someone’s confidence and trust.  

  • Many theories exist about how to build trust and confidence, but there are some common themes that an entrepreneur would be wise to remember: 

  1. Stay in touch with your skill set. 

  2. Do not oversell yourself. It is better to undersell yourself and exceed the customer’s expectations  

  3. Manage the customer’s expectations. Constantly assure that what the customer is expecting and what you are delivering are the same. The customer’s expectations can be managed by maintaining frequent and open communication.  

  4. Deliver. Do what you say you’re going to do, consistently.  

  5. Never, never lie to the customer. Lies always come back to haunt you.  

Wallace, R. (2000), Soul Food 52 Principles for Black Entrepreneurial Success, New York: Perseus Publishing    

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