Personal note from IIDM: International Institute of Directors & Managers:
https://www.iidmglobal.com/elearning/business-book-summary/id132043-the-speed-of-trust.html

Book Summary: The Speed Of Trust
By Stephen Covey & Rebecca Merrill

Other summary sites – Summaries.com: https://public.summaries.com/files/8-page-summary/the-speed-of-trust.pdf – Emory School of Medicine: https://med.emory.edu/departments/anesthesiology/education/residency/documents/the_speed_of_trust.online.pdf – SuperSummary: https://www.supersummary.com/the-speed-of-trust/part-2-summary/

– focus in business
> instead of compliance
> on optimisation through developing an ethical character, transparent motivation, and superb competence in producing sustained, superior results

– Trust. One common thing to:
> individual,
> relationship,
> team,
> family,
> organisation,
> nation,
> economy, and
> civilization throughout the world
– if removed, will destroy the most powerful government, the most successful business, the most thriving economy, the most influential leadership, the greatest friendship

– What trust is: asset that is
> pragmatic,
> tangible,
> actionable
> that you can create – much faster than you probably think

– What trust is NOT
> soft,
> elusive quality (difficult to achieve) that you either have or you don’t

– Trust always affects two outcomes
> speed
> cost

– When trust goes down,
> speed will also go down
> costs will go up
– When trust goes up
> speed will also go up
> costs will go down
– Trust is therefore the basis on which to build pace and success

– people trust people who make things happen

Five Waves, a hierarchy of Trust.
1. Self Trust
– made up of Integrity
– walking your talk
– being consistent, inside and out
– having the courage to act in accordance with your values and beliefs
– Integrity:
> comes from the same Latin root as the words ‘integrated’ and ‘integer.’
> when there is no gap between intent and behavior
> will ultimately create credibility and trust
– includes humility
> recognising principle and putting it ahead of one’s self, even in the face of opposition
> includes the courage to do the right thing – even when it’s hard

– Trustworthy people walk their talk
– When trustworthy people feel they ought to do something, they do it
– How to build integrity: Ask yourself the following questions:
> Do I believe that the way I see the world is totally accurate and complete – or…
am I honestly willing to listen to and consider new viewpoints and ideas?
> Do I seriously consider differing points of view (from a boss, direct report, team member, spouse, or child), and am I willing to be influenced by them?
> Do I believe there may be principles that I have not yet discovered?
> Am I determined to live in harmony with them, even if it means developing new thinking patterns and habits?

– Self-trust includes Intent
– Self-trust has to do with …
> our motives,
> our agendas, and
> our resulting behaviour.

– Trust grows when our motives are..
> straightforward
> based on mutual benefit

– Intent has three pillars
> A. Motive,
— reason for doing something
— the ‘why’ that motivates the ‘what
— the motive that inspires the greatest trust is genuine caring:
–> caring about people,
–> caring about purposes,
–> caring about the quality of what you do,
–> caring about society as a whole

> B. Agenda
— grows out of motive
— what you intend to do or promote because of your motive
— the agenda that generally inspires the greatest trust is seeking mutual benefit:
–> genuinely wanting what’s best for everyone involved
–> not just that you care about others, you also genuinely want them to win
–> Yes, you’re seeking a win for yourself (natural, desirable, and to be expected)
–> byou’re also seeking a win for all others involved.

> C. Behaviour
— the manifestation of motive and agenda
— the behaviour that best creates credibility and inspires trust is acting in the best interest of others
–> demonstrate the intent of caring
–> demonstrate the agenda of seeking mutual benefit
— It’s easy to say “I care” and “I want you to win”,
–> but it is our actual behaviour that demonstrates whether or not we mean it

※manifestation:
— an event, action, or object that clearly shows or embodies something abstract or theoretical
— a sign of something existing or happening
— the act of demonstrating; display
— the public display of emotion or feeling
— something theoretical made real

— How to Improve Intent. Examine and refine your motives.
— Human tendency: to assume we have good – or at least, justifiable – intent
— But is it?
–> 1. Declare your intent
o> It ‘signals your behaviour’
o> it lets people know what to look for
o–> so that they can recognise, understand, and acknowledge it when they see it

–> 2. Choose abundance
o> Abundance: there is enough for everybody
o> The opposite of scarcity: there is only so much to go around, and if you get it, I won’t.

– Self-trust embraces capabilities
– The abilities that inspire confidence:
> talents,
> attitudes,
> skills,
> knowledge, and
> style.
– the means we use to produce results.
– need to constantly improve our capabilities
— to remain credible in today’s world

– The various dimensions of capabilities, using the acronym ‘TASKS’.
> T: Talents :: our natural gifts and strengths
> A: Attitudes :: represent our paradigms – our ways of seeing, as well as our ways of being
> S: Skills :: our proficiencies or the things we can do well
> K: Knowledge :: represents our learning, insight, understanding, and awareness
> S: Style :: represents our unique approach and personality

– The end in mind
> to develop our TASKS
> to match them to the tasks at hand
> to create the best possible alignment between..
— our natural gifts,
— our passions,
— our skills,
— knowledge, and
— style
AND
— the opportunity..
–> to earn,
–> to contribute,
–> to make a difference

Case Study: Corporations
– that simply rely on what has been successful in the past
– that fail to respond to the needs and challenges of the new global economy
– that aren’t engaged in continuous improvement, and in some cases radical improvement,
– THESE CORPORATIONS risk becoming irrelevant and obsolete

How to Increase Your Capabilities
– A. Run with your strengths (and with Your purpose).
> identify your strengths
>> (whether they be Talents, Attitudes, Skills, Knowledge, or Style)
> then focus on engaging, developing, and leveraging what’s distinctly yours

– B. Keep yourself relevant
> need to be engaged in lifelong learning
> schooling may teach you how to read, write, think, and reason,
> main purpose of schooling: is to set you up for ongoing learning

– C. Know where you’re going
> Another way of demonstrating competence
— to know where you’re going
— to have the capabilities to get there
> To create a credible leader
— competence,
— coupled with character

> Why follow credible leader
— not because they’re forced
— but because they’re inspired to do so

——– NOT YET —–

Self-trust depends on results: This refers to our track record, our performance, our getting the right things done. If we don’t accomplish what we are expected to do, it diminishes our credibility. When we achieve the results we promised, we establish a positive reputation of being a producer.

Results matter! You may have excuses. You may even have good reasons. But at the end of the day, if the results aren’t there, neither is the credibility and neither is the trust. Our credibility comes not only from our past results and our present results, but also from the degree of confidence others have in our ability to produce results in the future.

In considering results, you need to ask two critical questions: What results am I getting? And how am I getting those results?

Most people only ask the what. They have no idea that the answer to the how may be doing them in. The how can generate huge roadblocks to future results – or it can grease the skids. It’s so much easier to get results the next time around if people trust you and if they know you’re going to give credit, to seek mutual benefit, to not place blame. They trust that you will go for results in a way that will benefit them and everyone involved.

The reality is that no results ever come exclusively from the work of one individual or organisation; they represent the efforts of many. Understanding and appreciating the importance of a supportive role in getting results helps us all to more appropriately value our own contributions, as well as the contributions of others.

How can we Improve our Results?

Covey and Merrill believe the three accelerators below are most effective ways to improve our results:

Take responsibility for results. At the end of the day that’s why businesses exist – so why shouldn’t results be our #1 focus?
Expect to win. The principle is simply this: We tend to get what we expect – both from ourselves and from others. When we expect more, we tend to get more; when we expect less, we tend to get less.
Finish strong. When the successful marathon runner ‘hits the wall’ they don’t focus on exhaustion or going into the ‘survival shuffle’. They lift up their head and pick up their pace. By picking up the pace, you’re really saying to yourself that you’re not just going to finish; you’re going to finish strong.

The Second Wave – Relationship Trust

The Second Wave – Relationship Trust – is all about behaviour… consistent behaviour. It’s about learning how to interact with others in ways that increase trust and avoid interacting in ways that destroy it.

Covey and Merrill, have created another list of 13 behaviours common to high-trust leaders and people that grow out of the four cores of self-trust to support this wave:

BEHAVIOR #1 – TALK STRAIGHT
Be honest. Tell the truth. Let people know where you stand. Call things what they are. Don’t manipulate people or distort facts. Don’t spin the truth. Don’t leave false impressions.
BEHAVIOR #2 – DEMONSTRATE RESPECT
Genuinely care for others. Show you care. Respect the dignity of every person and every role. Show kindness in the little things. Don’t fake caring.
BEHAVIOR #3 – CREATE TRANSPARENCY
Tell the truth in a way people can verify. Get real and genuine. Be open and authentic. Operate on the premise of ‘What you see is what you get’. Don’t have hidden agendas.
BEHAVIOR #4 – RIGHT WRONGS
Make things right when you’re wrong. Apologise quickly. Demonstrate personal humility. Don’t cover things up. Don’t let pride get in the way of doing the right thing.
BEHAVIOR #5 – SHOW LOYALTY
Give credit freely. Acknowledge the contributions of others. Speak about people as if they were present. Represent others who aren’t there to speak for themselves.
BEHAVIOR #6 – DELIVER RESULTS
Establish a track record of results. Get the right things done. Accomplish what you’re hired to do. Be on time and within budget. Don’t overpromise and underdeliver.
BEHAVIOR #7 – GET BETTER
Continuously improve. Be a constant learner. Act on the feedback you receive. Thank people for feedback. Don’t consider yourself above feedback. Don’t assume today’s knowledge and skills will be sufficient for tomorrow’s challenges.
BEHAVIOR #8 – CONFRONT REALITY
Take issues head on, even the ‘undiscussables’. Address the tough stuff directly. Acknowledge the unsaid. Lead out courageously in conversation. Don’t skirt the real issues.
BEHAVIOR #9 – CLARIFY EXPECTATIONS
Disclose and reveal expectations. Discuss them. Validate them. Renegotiate them if needed and possible. Don’t assume that expectations are clear or shared.
BEHAVIOR #10 – PRACTICE ACCOUNTABILITY
Hold yourself accountable. Hold others accountable. Take responsibility for results. Be clear on how you’ll communicate how you’re doing – and how others are doing.
BEHAVIOR #11 – LISTEN FIRST
Listen before you speak. Understand. Diagnose. Listen with your ears – and your eyes and heart. Don’t assume you know what matters most to others. Don’t presume you have all the answers-or all the questions.
BEHAVIOR #12 – KEEP COMMITMENTS
Say what you’re going to do, then do what you say you’re going to do. Make commitments carefully and keep them. Don’t break confidences. Don’t attempt to ‘PR’ your way out of a commitment you’ve broken.
BEHAVIOR #13 – EXTEND TRUST
Demonstrate a propensity to trust. Extend trust abundantly to those who have earned your trust. Extend trust conditionally to those who are earning your trust. Don’t withhold trust because there is risk involved.

The Third Wave – Organisational Trust – The Principle of Alignment

In a low-trust organisation, cultural behaviours such as the following exist:

People manipulate or distort facts
People withhold and hoard information
Getting the credit is very important
People spin the truth to their advantage
New ideas are openly resisted and stifled
Mistakes are covered up or covered over
Most people are involved in a blame game, bad-mouthing others
There is an abundance of watercooler talk
There are numerous ‘meetings after the meetings’
By contrast, in a high-trust organisation:
Information is shared openly
Mistakes are tolerated and encouraged as a way of learning
The culture is innovative and creative
People are loyal to those who are absent
People talk straight and confront real issues
There is real communication and real collaboration
If the symbols in your organisation communicate and cultivate distrust – or less trust than you would like to have-you need to go back to the Four Cores with your organisational hat on and ask yourself:

Does my organisation have Integrity?
Do we know what we stand for?
Does my organisation have good Intent?
Do we have a culture of caring – for one another? For our customers?
Do we genuinely want everyone to win?
What are the capabilities of my organisation?
Do we have the means to deliver value?
Do we attract and retain the Talents, Attitudes, Skills, Knowledge, and Style (TASKS) we need to compete in today’s market?
Does my organisation get results?
Do we deliver what we promise?

The Fourth Wave – Market Trust – The Principle of Reputation

Market Trust is all about brand or reputation. It’s about the feeling you have that makes you want to buy products or services or invest your money or time – and/or recommend such action to others. This is the level where most people clearly see the relationship between trust, speed, and cost.

Here are some statistics to consider.
Thirty-nine percent of individuals say they would start or increase their business with a company specifically because of the trust or trustworthiness of that company.
Fifty-three percent say they would stop, reduce, or switch their business to a competitor because they have concerns about a company’s trust or trustworthiness.
Eighty-three percent say they are more likely to give a company they trust the benefit of the doubt and listen to their side of the story before making a judgment about corporate behaviour.
So, to improve you need to look through the lens of your own ‘organisation’ in terms of Market Trust. Consider the perspective of your ‘customers’.

Again going back to the ‘Four Cores,’ ask yourself:
Does my brand have Integrity?
Do we have a reputation for honesty?
Do we have values people believe in and can trust?
Do we have a reputation in the market for courageously addressing tough issues quickly and for honestly admitting and repairing mistakes?
Does my brand demonstrate good Intent?
Are we perceived as simply ‘out to make a profit’ or do people feel that we genuinely care and that we want to help others win?
Does my brand demonstrate capabilities?
Do people associate our name with quality, excellence, continuous improvement, and the ability to change and maintain relevance in a global economy age?
Is my brand associated with results?
Do people feel we deliver what we promise?

The Fifth Wave – Societal Trust – The Principle of Contribution

The overriding principle of societal trust is contribution. It’s the intent to create value instead of destroy it, to give back instead of take. And more and more, people are realising how important contribution – and the causes it inspires – are to a healthy society.

While many meaningful contributions still come in the form of the industrial age notion of philanthropy – of earning profits and then donating money to worthwhile causes – the trend today is turning toward the more comprehensive knowledge worker age paradigm of globalisation.

So with our organisations, we ask – yes, the ‘Four Cores’ again – Is our organisation credible? Do we have Integrity, and do we model it in our behaviour? Do we demonstrate Intent to do good, to contribute, to give back? Do we have the capabilities to make a difference? Do we produce results, not only for shareholders but for all stakeholders?