Name: The Speed of Trust
Rating: 4.2 (203 reviews)
Author: Stephen M.R. Covey with Rebecca R. Merrill

What’s in it for me? Learn how to improve your relationships by developing trust.

“I trust you.” What does that mean? For many of us trust is something like love: an abstract, rather fluffy thing. But this isn’t true: trust is a concrete, measurable factor. And it’s an asset that we should spend more time cultivating.

These blinks highlight the benefits you can expect if you spend time growing trust in your relationships. Whether you run a business or just want to improve your personal interactions with others, reading this advice can help change your life.

In these blinks you’ll learn

why it’s better to behave with integrity than win at all costs;
why every time you go through airport security, you are paying a trust tax; and
how you should forgive those who betray you...to a certain extent.

Trust makes everything better by increasing speed and lowering costs.

Pick up a newspaper and you’ll immediately be confronted by headlines about fading trust in banks, corporations and relationships. Trust affects everything. But what is it exactly and how does it affect us so much?

Trust can be defined as the confidence you have in someone.

When you trust others, you feel assured in their abilities to do something, such as paying back that $100, or staying faithful to you in a partnership.

Trust is beneficial to us, as it facilitates good communication. For example, it’s far easier to understand someone when you trust them. You’ve probably experienced times when your best friend (whom you trust) understands what you’re saying even when you aren’t speaking clearly. Conversely, you’ll find it harder to understand what people you’re not so familiar with are talking about, even if they’re speaking in plain terms.

Aside from our friendships, if we can achieve trust through improved communication, it’s excellent for business.

Interestingly, trust enables us to do things more quickly at a lower cost. This is known as the economics of trust. For example, before 9/11, it took Americans 30 minutes to get through airport security for national flights. After 9/11, as trust rapidly declined, security clearance required an hour and a half. Due to the fear of terrorist attacks (lowered trust), everything started to take longer (lowered speed), and as a result, expenses for security machines and personnel rose (increased costs).

So we see that the traditional economic formula of strategy x execution = results is inadequate. An element of trust must be added, and this comes in two forms.

One is a trust tax, for relationships experiencing waning trust. Another is a trust dividend, if there’s a high level of trust. The formula then would be (strategy x execution) x trust = results.

So in the airport security line, the equation would therefore involve a trust tax, which would lead to a slower, less efficient end process.

Distrust generates many problems.

Learn how to trust yourself by becoming credible.

Cultivating self-trust is crucial; if you can’t trust yourself, how can anyone else trust you? To foster self-trust, you need to make yourself credible by adopting The Four Cores.

The first is Integrity. This entails being honest, standing by your principles and doing what you say you’ll do.

Build trust with stakeholders through alignment, reputation and contribution.

In business, you’re often told you need to please your stakeholders, but what does this mean exactly?

Stakeholders can be divided into three types: internal (employees), external (the market), and societal (other members of society who judge your business). Each of these stakeholders require different approaches in order for them to trust you and your business.

Trust can be restored by extending smart trust to others or by increasing our credibility.

Once trust has been lost, many of us think it’s lost forever. But in fact, trust can be restored. Let’s take a look at how.

Regaining and even strengthening trust takes effort, commitment and the extension of smart trust. Smart trust lies in the middle ground between distrust and naive gullibility, and combines the following elements: an inherent feeling that others are generally worthy of trust, and a close look at the possible implications of trusting someone.

Kernaussagen in The Speed of Trust

Worum geht es in The Speed of Trust?

The Speed of Trust (2006) is about the importance of trust and how it can improve all aspects of our lives, from personal relationships to productivity in the office. Trust improves communication, and in doing so, speeds up efficiency and lowers cost at the same time. Throughout this book, the authors offer us tips on exactly what to do to increase trust in our lives.

Über den Autor

Stephen M. R. Covey is an inspirational speaker, author and advisor on trust. He’s the son of the late Stephen R. Covey, the brains behind the smash-hit The 7 Habits of Highly Effective People. He is the cofounder and CEO of CoveyLink Worldwide, an enterprise that aims to influence leaders by teaching them about trust.

Rebecca R. Merrill is a writer. She coauthored Life Matters with A. Roger Merrill, and assisted Stephen R. Covey with his bestselling classic.