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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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The Speed of Trust summary
The One Thing That Changes Everything
13 mins
Brief summary
In 'The Speed of Trust', Stephen M.R. Covey teaches us that trust is the foundation for everything we do as individuals, teams and organisations. He provides practical tools to build, repair and restore trust, leading to increased performance and stronger relationships.
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The Speed of Trust
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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.
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What is The Speed of Trust about?
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.
The Speed of Trust Review
The Speed of Trust (2006) explores the profound impact trust has on both personal and professional relationships. Here's why this book is worth reading:
- It provides a roadmap to building and repairing trust, offering practical tips and strategies that can be applied in any situation.
- The book combines powerful storytelling, research, and real-world examples, making the concepts easily relatable and applicable.
- By highlighting the economic benefits of trust, the book injects urgency and relevance into the topic, making it far from boring and purely theoretical.
Best quote from The Speed of Trust
Trust is one of the most powerful forms of motivation and inspiration. People want to be trusted. They respond to trust. They thrive on trust.
—Stephen M.R. Covey with Rebecca R. Merrill
Who should read The Speed of Trust?
- Anyone struggling to trust others
- Leaders who need to influence their staff
- People who want to make others trust them
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The Speed of Trust FAQs
What is the main message of The Speed of Trust?
The main message of The Speed of Trust is that trust is essential for success in both personal and professional relationships.
How long does it take to read The Speed of Trust?
The reading time for The Speed of Trust varies depending on the reader, but it generally takes a few hours. The Blinkist summary can be read in 15 minutes.
Is The Speed of Trust a good book? Is it worth reading?
The Speed of Trust is worth reading as it offers valuable insights into the importance of trust in building strong relationships and achieving success.
Who is the author of The Speed of Trust?
The authors of The Speed of Trust are Stephen M.R. Covey and Rebecca R. Merrill.
What to read after The Speed of Trust?
If you're wondering what to read next after The Speed of Trust, here are some recommendations we suggest:
- The Everyday Hero Manifesto by Robin Sharma
- Multipliers by Liz Wiseman
- Trust and Inspire by Stephen M.R. Covey
- Radical Candor by Kim Scott
- The Five Dysfunctions of a Team by Patrick M. Lencioni
- The First 90 Days by Michael D. Watkins
- The 8th Habit by Stephen R. Covey
- The 7 Habits of Highly Effective People by Stephen R. Covey
- The Infinite Game by Simon Sinek
- Trust by Dr. Henry Cloud