Trust is the foundation of all relationships—whether personal or professional. But what happens when that trust is broken? In this episode of The Woodard Report Podcast, hosts Joe Woodard and Heather Satterley dive deep into the complexities of trust in business relationships and offer a practical framework for restoring trust when it’s been damaged.
Joe opens the discussion by exploring why trust is broken in the first place. Most people don’t set out to betray others; rather, trust is often eroded due to misunderstandings, unpredictable behavior, and external pressures. As Andy Stanley puts it, “We are messy people working with messy people, trying to make the world a little bit less messy.”
The key takeaway? When trust is broken, our first instinct should be to evaluate the circumstances, not immediately judge the person.
If trust with a client has been compromised, Joe outlines a structured five-step approach to rebuilding it:
1. Assess the Client’s Character and IntentBefore attempting to restore trust, consider whether the client genuinely wants to fix the situation. If their character or intent is lacking, the relationship may not be salvageable.
2. Determine the Nature of the Trust Breach
Was the issue a character breach (indicating deeper ethical concerns) or a competency breach (a mistake that can be corrected)? If it’s a character issue, reconsider the relationship. If it’s a competency issue, move to the next step.
3. Clarify What Happened
Objectively analyze the situation with the client. Instead of assigning blame, focus on the specific events that led to the breakdown in trust. Be prepared to acknowledge your own role, if applicable.
4. Agree on Steps for Restoration
Work collaboratively to create a plan for moving forward. Both parties must contribute to restoring the relationship, and expectations should be formalized to avoid future misunderstandings.
5. Deliver on the Agreement
Follow through on commitments, ensuring consistency and transparency. Over time, suspicion will fade, and trust can be rebuilt.
Heather highlights an important point: If you don’t trust yourself, it’s difficult to be trustworthy to others. She emphasizes that trust begins with understanding your own values and acting in alignment with them.
Additionally, she points out that perception plays a huge role in trust—sometimes, trust is broken not because of intentional wrongdoing, but because of misunderstandings or misaligned expectations.
Joe and Heather wrap up the discussion with their favorite quotes related to trust and self-belief:
Joe’s Pick: Rocky III
Apollo Creed tells Rocky, “This is real.” Rocky responds, “Nothing is real unless you believe in who you are.”
Takeaway: Self-doubt can stem from external breaches of trust. Overcoming imposter syndrome requires self-trust and confidence.
Heather’s Pick: Eat, Pray, Love
“Stop wearing your wishbone where your backbone ought to be.”
Takeaway: Wishing for change isn’t enough—you must take decisive action.
Joe and Heather discuss The Four Agreements by Don Miguel Ruiz (Amazon link), a book that provides a simple yet powerful framework for building trust and improving relationships:
With the IRS reducing staff, thousands of tax professionals are now available for hire. Joe encourages firms to see this as an opportunity.
Nancy’s humorous post about shifting BOI filing requirements sparked a discussion about compliance and legal obligations.
The hosts highlight the recent article Woodard Welcomes Shirley Koss as Community and Member Success Manager. Shirley’s role focuses on enhancing the Woodard member experience and ensuring they get the most out of their resources. Looking to learn more about the benefits of Woodard membership? Schedule a meeting with Shirley!
Listen in for insights that will help you support your clients and team members through this pivotal moment—and subscribe to The Woodard Report podcast on your favorite platform to stay informed on future episodes and valuable discussions.
This episode is proudly sponsored by Brex! Brex Accounting Partners close clients’ books faster, earn referral rewards and attract new customers — all on Brex.