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Here is how easy it is to lose trust…

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Lack of trust is not just the domain of ‘used car sellers’, it is obvious in areas such as politics, workplaces, many Ebay sellers, local clubs, and even amongst family and neighbours. The stock market can show us a very simple example of how to lose trust – Make a statement, then don’t back it up.

Of the many companies that have lost my trust, such as Clean Seas Tuna, Matrix Composites, Neptune Marine, and Nufarm, Rodinia Oil, an exploration company, provides the latest example. On 4 May 2011, they proudly announced that their join venture partner, EnSearch, was no longer under Administration. WooHoo! Rodinia went on to say how they had “liaised extensively with them in order to protect and secure its financial and operational positions”. Well done Rodinia! Rodinia is managed by very experienced people overseen by a very expereinced board. Obviously they know what they are doing. They had plans to drill 4 wells with an option to drill some more.

However, by November 2011, just 6 months after Rodinia assured us of ‘securing its financial and operational positions’, they have served “default notices on its Officer Basin joint venture partner for failure to pay its share of costs”. This joint venture partner has responded by serving dispute notices on Rodinia! “The parties are about to commence a dispute resolution process”. “Rodinia’s ability to finance its future operations is dependent upon its ability to obtain new sources of financing and the existence of economically recoverable hydrocarbons.”

The management and Board of Rodinia, experienced in their field, have made a statement about “securing” their positions ,and, planned to drill 4 wells. Instead they have drilled and abandoned 2 wells, and placed themselves in a disputed position.

Of course, “Rodinia will be conducting a comprehensive review of operations for 2012” and “opportunities are currently being evaluated, with interest being expressed by several oil and gas companies.”

Here we are in April. No resolution to anything. No update at all to investors. It’s not just Rodinia have done or said, or what they have omitted to say or do. There is also implied meanings. Fine print is obsolescent.

How to get people to trust you

Trust has evaporated.

If you’re a rosy, glass half full type of person, how would you look at this situation? To me, the glass is half empty, warning bells are ringing and the drop from $2.10 to 10 cents is indicative that no matter what expertise the board and management have, it hasn’t meant much at all.

What does this mean for you and I? In simple terms, if we want to be trusted, be trustworthy. Look inward and evaluate what you do and say to others. Are you trustworthy? Look inward to do better outwardly.

I often make a statement that I can help people overcome depression in 3 days, sometimes less, provided they have an open mind. A recent client said he learnt more in one weekend with me than 9 years with a psychologist! 9 years!
The psychologist no longer asked questions, checked progress, or requested the client’s opinion, just wrote another medication prescription. Would you continue to trust?

Trust will often be broken or misplaced, however, life is to be managed not mastered. Only then can you truly Discover Peace of Mind.

Rodney Lovell