Daily Thought 3/14/12: Culture and Client Trust

Whew, it has been quite a since I last shared some thoughts here. Some times life gets really busy, but it is good to be back.

As I am sure some of you have seen, the New York Times printed quite the thought provoking OpEd piece today. This piece is a reflection by a former executive director at Goldman Sachs about why he has decided to leave the firm.

The writer, Greg Smith, proposes two amazing thoughts. The first is that internal culture has the most impact on the way a business operates. The second is that without creating and maintaining trust, your clients will only do business with you for so long. He goes on to say that because the leadership has done nothing to lead by example in either area, the company is now full of individuals who are “morally bankrupt”.

It is a great read and shares some great insights about the impact of culture and the importance of leading by example. When you are a leader everyone looks at you and mirrors what you do, whether it is right or wrong.

It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are. -Greg Smith

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