2010: Begin Again - Speed of Trust

“If you want somebody you can trust, trust yourself.” – Bob Dylan, Trust Yourself

I think that any success in life has its roots in trust. Trust in others, trust in organizations, and trust in yourself. Trust in yourself is the most important as far as I’m concerned, so right on Mr. Dylan.

In the last couple of days, my life has seen a convergence of elements that all seem to speak to trust. The first, and most publicly obvious, was the Wednesday morning presentation by Stephen M. R. Covey to the employees and students of Lethbridge College.

Covey popped by the college for part of what had to be a very busy 48 hours for him; a presentation Tuesday night to college supporters, one at a Wednesday morning breakfast seminar for local business people, then a wrap up session at the college. Kudos to Mr. Covey for energy! And kudos for a great message, too.

He was sharing concepts from his book, The Speed of Trust – The One Thing that Changes Everything. If you don’t have the book, you might want to get a copy. Well, I guess only if you have contact in some fashion with other human beings. If you don’t, I wouldn’t worry about it.

There was a ton of information in Covey’s presentation and even more in the book. Essentially, he makes the case for trust being about much more than just a social virtue. It’s not just a warm, fuzzy feeling we can have for each other. Covey talks about three big ideas:

1. Trust is an economic driver, not merely a social virtue.
2. Trust is the #1 competency of leadership needed today.
3. Trust is a learnable skill.

Trust has an enormous impact on society. Right now, trust in business is at an all-time low. Gee, I wonder why? Just take a look at the last couple of years and what’s been happening in big business. (Sidenote: That’s one reason why you should be considering a small business of your own in this economy!)

Organizations, businesses and government are all lacking a trust factor. And the costs can be huge. Investing in building honest trust, not something manipulative as demonstrated by those who talk it, but don’t really walk it, is vital for economic recovery.

As a quick example, Covey talks about a Trust Tax and a Trust Dividend. The tax shows when trust is down in a company. Speed or production follows it down while resulting costs can spiral up. The dividend shows when the opposite happens. An increase in trust sees a rise in speed and a decrease in cost. Companies that fail to invest in their people and in building trust in them ultimately pay a cost. A lack of trust can be a prime motivator for your top people to bail on your company and go elsewhere.

Character and Competence

The two sides of trust are character and competence. If both aren’t present in some balance, there will be a lack to trust. Think of people you know or work situations you have experienced. Almost all of us can think of people who’ve had good character, but lacked competence. They can be likable, fun to be around, great people to know. But if they lack competence, trust in them will falter.

Something I’ve seen more of over the years is the opposite – people with competence, but no character. Oh, they know what they’re doing, but they don’t show any real empathy for others. People don’t matter to them. Perhaps they see people as pawns to be used to reach a goal. Sometimes they’ll say or do the right things, but even then it’s more manipulative than sincere. They actually think only of themselves and what they want. Try to have trust in that scenario.

The Five Waves of Trust

The last thing I’ll share from Covey’s presentation is the flow of trust. Covey talked about the Five Waves of Trust. The visual is a drop of water falling into pool and causing ripples to flow out. Each ripple represents another level in the flow of trust. The Five Waves are:

1. Self trust. (See, Bob Dylan and I are on the save wave-length!)
2. Relationship trust. Your trust in others grows. You begin to form ‘trust accounts.’
3. Organizational trust. This starts to examine how leadership can create trust in different organizations.
4. Market trust. Earlier ripples start to build and reputation becomes strong. It’s your organization’s brand . . . and your own personal brand. People are now trusting it.
5. Societal trust. By this point, we are giving our earned trust back to others and, in a way, coming full circle as our growing trust of others inspires greater self trust and begins the wave all over again.

I have not done Stephen Covey justice with this brief review. If you are in business, whether a traditional retail or self-employed in a home business, or if you are employed by someone else, building an open and honest trust in your relationships among those with whom you interact is a vital key to success. Get the book and see how you can improve your trust factor.

Photo: Stephen M. R. Covey

Next in 2010: Begin Again

I’ll take a look at the second of the converging elements affecting my thoughts right now – The Quest: A Journey of Spiritual Rediscovery, Chapter 19 – Law of Mind Action and how I believe what we think impacts the very first step in the Five Waves of Trust.