The Speed Of Trust: The One Thing that Changes Everything

Covey grapples with the concept of smart trust, the equilibrium between trust and analytical judgment that ensures successful relationships. He illustrates this delicate balance by recounting a business relationship that broke due to shattered trust and how, through forgiveness, the personal relationship was rebuilt. The professional relationship, however, wasn’t reestablished. This embodies “smart trust”—leveraging past experiences to wisely manage future risks.

Covey introduces a smart trust matrix with four distinct zones: blind trust, smart trust, no trust, and distrust. The smart trust zone—high propensity to trust coupled with robust analysis—emerges as the most advantageous, fostering wise judgment. He reveals that the distrust zone poses significant risks, as micromanagers in this zone can demoralize teams, escalate costs, and miss potential opportunities, stifling collaboration and synergy. Other pitfalls include a narrow perspective, limited cooperation, and squandered potential. Reasons for slipping into this zone vary from a penchant for detail to deep-seated mistrust in others’ abilities. Individuals in this zone will remain entrapped in costly, slow, and risky endeavors unless they adjust their mindset. In contrast, the smart trust zone presents the lowest risk and highest returns, as trust-related risks are intelligently managed. Leaders in this zone combine their judgment and propensity to trust, creating a vibrant environment marked by thoughtful evaluation and abundant trust extension.

Covey offers the smart trust matrix as both a diagnostic and prescriptive tool, emphasizing three aspects: the opportunity, associated risk, and credibility of the individuals involved. He maintains that trust extension is a continuous exercise of risk management, which can range from absolute trust to absolute distrust depending on the specific situation and the character and competence of the involved individuals.

The chapter concludes with an insight into why many trusted managers fail to become leaders: They operate in the distrust zone, stunting their growth and leadership potential. The most successful leaders inspire trust, foster a high-trust environment, and unlock individual creativity.

Covey confronts the idea that once trust is lost, it can never be regained. He recognizes that trust violations often result in significant harm and can even shatter relationships, yet he argues that in many cases, lost trust can be not only restored but also reinforced. Acknowledging that trust breakdown can occur due to both personal and professional blunders and misunderstandings, Covey argues for a measured approach to trust restoration.

Using a personal example of his son’s traffic violation, Covey illustrates the possibility of trust restoration, emphasizing that challenges, including trust issues, can serve as vital learning and growth opportunities. He advocates for prioritizing trust in all relationships despite these challenges, arguing that doing so can yield considerable benefits.

The chapter delves into three dimensions of trust: organizational trust, relationship trust, and self-trust. Covey recounts a period as CEO of the Covey Leadership Center where an initial lack of trust in a division’s profitability led to strained relations. Upon discovering his mistake, Covey apologized, thereby restoring and enhancing the lost trust. This experience underscores the importance of honesty and accountability in organizational trust.

When discussing relationship trust, Covey highlights its challenges and potential, using stories of overcoming marital infidelity and financial disagreements. Despite being daunting, restoring trust in personal relationships is crucial given the high-stakes and intimate nature of such bonds.

In discussing self-trust, Covey underscores the difficulties of rebuilding self-trust when a person breaks their promises or contradicts their values. An anecdote of a friend’s recovery from bankruptcy emphasizes the vital role of integrity in restoring self-trust. Throughout these trust dimensions, Covey emphasizes honesty, respect, accountability, and confronting reality as essential elements in restoring trust.

Covey also advises caution in judging others, acknowledging that missteps often aren’t intentional character flaws. He emphasizes the freeing nature of forgiveness, using Nelson Mandela’s example to demonstrate its self-beneficial aspect. The chapter concludes with the idea that broken trust isn’t an endpoint but an opportunity for self-improvement and growth. Through trust restoration, one can build personal credibility and enhance character and competence. Trust restoration, therefore, is not just about mending relationships but is a vital part of personal growth and development.

Using his personal experience as an example, Covey explains how his career took a turn for the better when his superior, John Walsh, expressed faith in him and provided him with opportunities despite the reservations others had about him. This trust, he explains, motivated him to work harder, ultimately making him one of the top producers in the company.

Covey argues that trust has a transformational effect not only in professional settings but also in personal life. Trust can empower people, inspiring them to realize their full potential and make valuable contributions to the world around them. Trust, he asserts, is more than just a virtue; it is a strategy that leaders can employ to maximize their impact.

Covey presents several examples from the business world to illustrate this point. From Sam Walton, the founder of Wal-Mart, giving inexperienced people store management positions to Nordstrom and Ritz-Carlton empowering their employees to use their judgment to solve customer concerns, leaders have extended trust and reaped significant rewards.

In contrast, a lack of trust has a negative impact on relationships and organizational performance. Those who do not trust others are often not trusted themselves, leading to a hostile environment marked by suspicion and fear. Trust, however, is reciprocal; the more someone trusts others, the more they are trusted in return.

Covey concludes that while life experiences may cause people to be less trusting, they can choose to restore their propensity to trust. By forgiving others and balancing trust with careful analysis, people extend smart trust—a type of trust that maximizes rewards and minimizes risks. Despite the risks of being cheated or disappointed, Covey argues, it is better to trust and be occasionally deceived than to live in constant mistrust.