How to Build Trust Among Startup Founders and Teams?
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Trust is the most valuable asset in developing a business. It can help in a flourishing or failing business if not built strongly. As a startup founder, you will be able to develop the product/service but can’t run a business without other people and there should be trust between you and them.

This trust comes over time among startup founders and the team and helps in building a strong partnership. A Team must be able to connect with the vision you have and you should have their back at every point. Companies that have a strong trust factor stay for a longer time in a business.

In this article, we will discuss the importance of building trust between you and your team and strategies that helps you in building it.

Trust Building: A Secret to High-Performance Team

One of the easiest ways to determine how successful or unsuccessful a team will be is to measure how much trust exists between the founders and the team. 

When members trust each other they are more likely to share information and feedback. They are more likely to take a risk and express crazy unique ideas that lead to the major development of a startup. 

They are more likely to accept failures and work together to solve the issue. And they are more likely to grow together and reach new levels of performance. 

And of course, trust-building cannot happen like a spell or miracle. It needs hard work, a high level of understanding, patience, and dedication to build a strong team.

Why Building Trust is Important for Startup Founders and Their Teams?

According to a study, 60% of startup fails due to poor relationships between the founders ad their teams. They cannot convey their problems or thoughts to each other effectively. Therefore, important information gets misinterpreted or received with a different intention.

Behind every successful startup, there is a team of passionate people who worked toward a common goal. This is only possible when everyone trusts each other, they believe in that person’s capability and a proper time and environment are given instead of pressurizing them.

A few other advantages of trust-building between startup founders and their team is mentioned below:

  1. Re-define startup culture

When you are building your team,  you are also setting up a work culture that will go on for years. It is a combination of trust, values, beliefs, goals, and missions that separate your startup from others.  A healthy startup culture allows one to be more productive and loyal to their company. 

  1. Better execution of your vision

It is the responsibility of the team to understand the vision of their founder and turn them into short-term and attainable goals. These goals are then assigned to the respective members who work hard together and turn the dream of your startup into reality

On the other hand, as a founder, you can focus more on the macro level of the business while your team will look after achieving small targets, and collectively you can achieve one milestone after another.

  1. No communication barrier

When there is trust, a communication gap does not exist. Members can communicate effectively with their founders and share unique ideas to improve the product or work culture. And likewise, founders are also able to establish a strong communication line, and information is shared with the same intention.

  1. Complementary skills

Every member has a unique set of skills and this trust factor allows them to showcase them at their highest potential. The expertise of the founder and the skills of the team make a startup competent.

  1. Strong structure and attract investors 

It’s no doubt that trust and understanding between the team and the founders reflect a strong structure that live for many years. For example, TATA company is widely known for its strong values and better understanding between their teams that have been passed down through generations.

Another important advantage of trust building is that it attracts venture capitalists and investors to fund your startup. They always look for a strong team as they know your company is subjected to other market conditions but if your core team is strong, they don’t hesitate to invest.

Note: You can explore more about the need and ways to trust-building among you and your team in the book “THE 7- STEP STARTUP SUCCESS FORMULA- Anu Khanchandani.” You can read chapter 12 to understand the importance of identifying the right team and how to develop trust. This resourceful book will provide insights related to the growth of your startup. 

THE 7-STEP STARTUP SUCCESS FORMULA

I am not the only Business Coach around. There are many distinguished business coaches and gurus out there. At the end of the day, our aim is not just to give you knowledge and jargon.

In this book, I have mentioned 7 defined steps to reach your startup milestone, condensed with my 25 years of experience.

___ by Anu Khanchandani

9 Proven Ways to Build Trust Among Founders and Teams

As said by Mr. John Maxwell that teamwork makes the dream work, but a vision becomes a nightmare when the leader has a big dream but a bad team. It defines the importance of strong understanding and trust between founders and their teams. 

An experienced and empathetic founder along with a great team can shape up a startup in a way that they could achieve success easily. 

There are 7 simple ways to build trust that may not happen overnight but will start a virtuous cycle of trust-building between a founder and a team. You can start implementing them one by one in your company:

  1. Identify the key positions and develop a strong support system

First of all, start working on identifying the positions that your startup will need such as programmers, R&D team, marketers, SEO team, account managers, etc. Focus on establishing these positions as per your goals and build a strong and accountable support system. 

Founders and teams should be interdependent for any work. There should not be any confusion or misconception related to work.

  1. Define roles and responsibilities clearly

Once you have identified the key positions, define the roles and responsibilities that your team will take care of. Be transparent and mention your role as a founder also. Take suggestions and feedback to solve any future issues. It will also help in building trust between your employees and you.

  1. Create a culture of shared values and follow them

Don’t force your values or beliefs system on your organization even though you are a founder. Instead, create them by asking everyone from your team and decide it by taking decisions collectively. Ask your team to follow them and treat these values sincerely as it’s a reflection of your company’s work culture.

  1. Identify “doers” instead of “sayers”

It is a practical approach to the trust-building process. It implies picking those employees in your team who are focussed on achieving the task rather than only planning them. You need to pick your team carefully. Check their capabilities, competency, patience level, and problem-solving attitude before hiring them.

  1. Accept failures and model vulnerability

You should create an environment where mistakes are welcome and one can be comfortable in showing their vulnerability. It’s another level of trust-building that helps you to know your team exclusively. 

One can fail as a team or as a founder, but everyone should be able to have their back. You can work together in eliminating such problems that are creating issues in your startup.

  1. Build real bonds 

Focus on building authentic bonds between you and your team. Do not encourage boot-licking culture or useless gossiping. It harms the bond and breaks trust too.

  1. Communicate often and make your team accountable

Be specific while delivering duties to your employees and make them understand their accountability. They should take responsibility for their actions both good and bad. Regular communication can make this happen and this will strengthen the trust factor in your startup.

  1. Employees satisfaction and constant assessment

One of the ways to improve your work quality is to assess your team based on various factors and provide regular training to hone their skills. When there will be trust, your team will inform you about the new technology or skill that needs to learn and improve overall efficiency.  

Trust can also be established when you work toward employee satisfaction whether it’s giving promotions, leaves, trips, or encouraging creative freedom.

  1. Avoid homogeneity 

Always promote out-of-box thinking and innovation methods to improve your work quality. And for that always hire from multiple yet trustworthy channels to build your team. Try to avoid monotonous work culture and work more on building trust with one another. 

Takeaways 

Trust-building is crucial especially for startups because in the beginning few members are there only and they should be able to rely on each other. Strong trust among founders and team displays credibility and also attracts investors and clients to work with you.

As a founder, you can establish some practices such as fun trust-building activities, reward every small milestone, remove hierarchical communication boundaries, and establish self-reflection and accountability to grow the startup as a whole.