Failure to build trust can have significant negative consequences, such as:
- Loss of Customers: Distrust can lead to customer attrition and negative reviews. - Difficulty in Raising Capital: Investors are unlikely to fund ventures they do not trust. - High Employee Turnover: Lack of trust can result in disengaged employees and high turnover rates. - Damaged Reputation: Trust issues can tarnish a brand’s reputation, affecting all aspects of the business.