Don't Kick the Bucket - Milking Cows and Building Trust

I remember milking cows at my Auntie Rosie's farm when I was a kid. It took an awful lot of tugs on that cow's milk-units to fill up the bucket - one squirt at a time. Then the cow would kick, and all that milk would spill across the barn floor. That bucket-kicking milk cow gives us a good model for understanding how trust works too.

Suppose you're reviewing an investment opportunity in a small business, doing due diligence on the deal and discussing the financial statements with the owner who is looking for capital. With a conspiratorial tone, the eager owner mentions that there have also been quite a few under-the-table cash deals so revenues are actually better than what was disclosed. Of course, he's trying to make the investment seem more attractive, but he just kicked over the bucket.

The purpose of the due diligence process is to fill up the bucket of trust, helping you feel confident that the deal you're considering is above board, without surprises, and fully disclosed. While the seller is being "honest" about the cash deals, he's really telling you that he'll lie whenever it benefits him. Run away.

Similarly, when someone tries to sell you something that is not in your best interest, run away. I've seen many companies using the buzzword of relationship selling, but using it as a means to push more products through the sales channel, without regard for what the customer wants and needs. Again, whenever you do this, you damage the trust that has been built up, perhaps over several years.

Trust. Keep it in the bucket.