High Trust Worth: The New Currency of Business is Not Money, it's Trust

“High Trust Worth: The New Currency of Business is Not Money, it's Trust" by Erica Wertheim Zohar and Milton Pedraza explores the pivotal role that trust plays in modern business, arguing that trust is more valuable than money in today's interconnected world. The book guides individuals and business professionals to understand, build, and measure High Trust Worth, a concept that is built on five pillars including authenticity, expertise, empathy, and kindness, all powered by creativity.The book explores the nuances of trust, differentiating between being trustworthy and having High Trust Worth, and the significance of trust in various contexts. Zohar and Pedraza draw on empirical research, historical examples, corporate case studies, including those from the luxury industry, and with High Net Worth (HNW) and Ultra High Net Worth (UHNW) individuals. The book uses insights from Zohar and Pedraza’s own experiences with HNW and UHNW individuals to illustrate the concept of High Trust Worth and how it applies to business success.While HNW and UHNW individuals are considered ideal case studies for understanding High Trust Worth because they often engage in high-value, high-emotion, and high-risk transactions, necessitating a high level of trust in the professionals with whom they work, the authors make it clear that the principles of High Trust Worth are universally applicable. Zohar and Pedraza emphasize the importance of building and sustaining trust in all business interactions across industries.To measure High Trust Worth, the book introduces the "Universal Trust Score (UTS)", a method and formula for individuals and organizations to measure and track their High Trust Worth using the five pillars as well as a five-step system to achieve and improve High Trust Worth over time:Identify and live your purpose. This involves understanding your core values and motivations to guide your actions and interactions.Embrace humility and conquer your fears. The authors argue that a growth mindset, a willingness to overcome the myths and the fears that keep professionals from achieving high-performance, is essential for building trust.Be pleasantly proactive. This involves taking precise initiative to earn, create and nurture trust to build and maintain relationships, actively ask for referrals, and consistently go above and beyond for customers.Perform with flow and deep focus. Drawing on the work of Mihaly Csíkszentmihályi, the authors explain that "flow" is a state of complete absorption in an activity, characterized by focus, enjoyment, and a sense of mastery. They argue that achieving flow in business interactions is crucial for achieving High Trust Worth and delivering exceptional experiences.Achieve self-mastery. This final step emphasizes the importance of continuous self-improvement through practices like daily preparation, practice, measurement, assessment and reflection, and self-coaching.The book empowers individuals and business professionals to embrace High Trust Worth as a path to personal and professional fulfillment, ultimately contributing to a more trustworthy and successful society. Read more