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The Speed of Trust Summary

The Speed of Trust Summary

Stephen M. R. Covey known for his book The SPEED of Trust is the son of the late Stephen R. Covey who wrote the best-selling book The Seven Habits of Highly Effective People.

Simple Short Summary: Stephen explains how to build trust in a family, organization, relationship, and team. Trust is the reflection of credibility, and the more credible you are, the more people willing to trust you, but when the trust is gone, it destroys successful business, greats leadership, and even the strongest character.

In this book, The Speed Of Trust, you’ll learn three lessons:

  1. Use Four Cores Of Credibility To Develop Trust In Yourself And Others Around You
  2. Trust in business can manipulate speed and cost
  3. Five waves of trust helps you to build trust at different level.

The Speed of Trust Summary

(Reading time: 5 minutes)

Use four cores of credibility to develop trust in yourself and others around you

Speed of trust helps a culture, an organization, and individual, to communicate effortlessly with higher collaboration. Trust is like a confidence which comes when competence and character come together.

Whenever you’re building trust in your employees or in a business, start with giving trust in the form of time and attention which helps you to build better relationship with others.

Building trust is crucial because the cause of unhappiness in your workspace arises due to trust issues. Covey develops four cores to flourish trust in yourself.

  1. Integrity
  2. Intent
  3. Capabilities
  4. Results

Integrity is the first core, and it’s about being honest with yourself and others around you. It requires courage to do the right thing in spite of challenges.

For increasing integrity, you must make and fulfill commitment even with the smallest one like getting out of bed early in the morning.

Integrity says to do the right thing, but humility defines what you believe is right. Humility includes the behavior of learning and growing, which means you’re open to learn anything. However, the opposite of humility is arrogance and pride, which means you’re close minded, and resist to learn new things.

Intent: Once you establish integrity, the next step is to form intent. Intent expresses why you do what you do. It asks question ‘What is your purpose behind your doing?

If you’re unable to express your intent clearly to others, you become suspicious. For this, you may even find yourself justifying your every action. Even others will always keep an eye over you.

You can’t control how others judge your intent because others will interpret your behavior and then give their judgement. However, when the motives are genuine and based on mutual benefit, trust flourishes.

Capabilities: Capabilities means building your passion and honing your skills. It requires you to make a habit to constantly increase your knowledge, and improve your skills which help you to gain confidence and trust.

For improving your skills, you should take guidance from leaders because it’ll make you good at what you do.

Covey uses the acronym TASKS to demonstrate multiple dimension of capabilities. These dimension are talents, attitude, skills, knowledge, style.

Results: The final core focuses on delivering result as it really matters what you accomplish and how you accomplish. A trustworthy track records can demonstrate your capability to your business partners and potential clients.

Without result, there’s no credibility and trust. Even, people don’t rely on others who are infrequent in delivering result. Others will judge your credibility based on the past outcomes that’s what you say you’ll accomplish and what you actually accomplished.

However, to improving your results, you can focus on your end result instead of activity. Once you able to form trust in a relationship then all cores: integrity, intent, capabilities, and result will help you to get benefit from trust multiplier.

Trust in business can manipulate speed and cost

You can define trust as the confidence you’ve in someone else’s. Trust affects all areas of your life from personal to the professional relationship. Trusting someone makes communication easier in comparison to a stranger.

When the trust goes up the speed goes up as well while the cost comes down. Everything begins to take place swiftly with less cost.

However, when the trust crumbles, it impacts speed and cost. Losing Trust either in a relationship or in a company decreases speed while the cost increases. Everything begins to take longer than normal.

For example, after the 9/11 terrorist attacks, the trust in the airplane passengers disappear. The airport security check becomes complicated which was completed in 30 minutes before, now it’s taking around 90 minutes or more as the passengers have to go through the complex scanning process.

Now traveling by air takes more time than normal. Thus, when trust crumbles, it takes time and costs money to sustain trust.

Five waves of trust helps you to build trust at different level.

The five waves of trust illustrate the different levels through which you establish trust in business, personal relationships, and society. When trust developed, it can make a person successful and prosperous.

The first wave, which is self-trust, deals with the confidence you’ve in yourself that will help you to set goals, keep commitments, and in your ability to inspire trust in others. The principle is credibility. To reinforce credibility, you can use four cores of credibility to establish trust within you and in others around you.

The second wave focuses on creating a ‘trust account‘ and expanding trust with others. Relationship trust emphasizes consistent behavior. Thirteen behaviors of high trust, which is valid by research, can regulate trust in a relationship.

Any individual can learn and apply these behaviors at any level. The result improves relationships with others.

The third wave, organizational trust, focuses on alignment within an organization. Organization symptoms like concealing mistakes, manipulating data, and opposing new ideas reduce people’s trust in the organization.

Principles violate because a leader isn’t taking care of processes, policies, and structures that affect day-to-day behavior. The leaders must generate trust and create structure in an organization.

The fourth wave focuses on the brand and its reputation. Market trust reveals the trust of customers, investors, and others in the company.

On a micro level, every individual is a brand and has his reputation that depends upon how others interact with him in a social situation. If he doesn’t have the brand he wish for, he can use four cores of credibility to improve his brand reputation.

The fifth wave emphasizes that you can create trust at the social level with contributions. Social trust creates values for society and others instead of wrecking and gives something back instead of taking them.

The Speed of Trust Review

The Speed Of Trust dives into the mechanism of trust and shows you how trust functions in your life. It illustrates how to make yourself trustworthy and establish trust intentionally so that others can easily rely on you.

With this book, you can heal your trust issue in a personal or professional relationship and give your relationship an opportunity to flourish. 

Favorite Quote From The Book:

The Speed of Trust Summary Quotes

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