Ways to Mitigate Risk and Build Trust

Reassure the customer -- tell them you'll be there throughout the process; if anything goes awry you'll be ready to take action if necessary.

The following are some ways for building trust and mitigating risk.

• Start Small - Don't ask for all the business; ask for a piece of it. Show the customer your capabilities and earn the business over time.
• Identify parallel situations - Review a similar situation with the customer and demonstrate how it worked previously.
• Build in an exit strategy -- Let the customer know there will be a way to get out of the situation if things don't work out as planned.
• Reassure the customer -- tell them you'll be there throughout the process; if anything goes awry you'll be ready to take action if necessary.
• Explain the worst case -- Make the client aware of all the risks and how you'll do your best to keep them under control.
• Take the burden -- Stand behind what you are doing for the customer; let them know you will take full responsibility if things go wrong.
• Share the risk -- Enlighten the customer about the risk for you -- if things don't happen as anticipated, you'll pay a price as well. Convey that "we're in it together."
• Guarantee results -- Or at the very least, guarantee your commitment to stick together throughout the process.

ACTION POINT: Earn your customers trust by demonstrating ways you will work to mitigate his risk.