The SPEED of Trust: The One Thing that Changes Everything Hardcover – October 17, 2006
Author: Visit ‘s Stephen M.R. Covey Page ID: 074329730X
From Publishers Weekly
Trust is so integral to our relationships that we often take it for granted, yet in an era marked by business scandals and a desire for accountability this book by leadership expert Covey is a welcome guide to nurturing trust in our professional and personal lives. Drawing on anecdotes and business cases from his years as CEO of the Covey Leadership Center (which was worth $160 million when he orchestrated its 1997 merger with Franklin Quest to form Franklin Covey), the author effectively reminds us that there’s plenty of room for improvement on this virtue. Following a touching foreword by father Stephen R. Covey (author of The 7 Habits of Highly Effective People and related books), the junior Covey outlines 13 behaviors of trust-inspiring leaders, such as demonstrating respect, creating transparency, righting wrongs, delivering results and practicing accountability. Covey’s down-to-earth approach and disarming personal stories go a long way to establish rapport with his reader, though the book’s length and occasional lack of focus sometimes obscure its good advice. (Oct.)
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Review
Covey convincingly validates our experience at Dell — that trust has a bottom-line impact on results and that when trust goes up, speed goes up while costs come down. This principle applies not only in our professional relationships with customers, business partners, and team members but also in our personal relationships, which makes this insightful book all the more valuable.”
— Kevin Rollins, President and CEO, Dell Inc.
“This book can change lives. Covey helps us understand how to nurture and inspire immediate trust in every encounter, which is the foundation for true and lasting success in life. A very interesting and enlightening read.”
— Larry King
“Covey brilliantly focuses on that overlooked bedrock of democratic capitalism — trust. Like the air we breathe, we too often take this critical intangible for granted. As Covey makes clear, we do so at our ultimate competitive peril.”
— Steve Forbes, President and CEO, Forbes
“Want to be an irresistible positive force? Combine personal responsibility with compassion and respect for others. Want to know how to do this perfectly? Read The Speed of Trust.”
— Dr. Laura Schlessinger, internationally syndicated radio host and author of The Proper Care and Feeding of Marriage
“Covey’s book underscores the single most important factor — the substrate — that will determine the success (or failure) of any organization in the 21st century: TRUST. This is a powerful read: brave, imaginative, amazingly prescient, and backed up by empirical and analytical heft. A must-read for anyone in a position of responsibility, from a support group to a global corporation.”
— Warren Bennis, Distinguished Professor of Business Administration, USC, and author of On Becoming a Leader
“This much-needed book provides many practical examples of how greater trust produces better results, at less cost, sooner — at work and in life. It’s invaluable.”
— Spencer Johnson, M.D., author of Who Moved My Cheese? and coauthor of The One Minute Manager
“Stephen Covey’s work changed the world. I’d bet the price of this exciting book and more that his son, Stephen M. R. Covey, will have at least as much impact. The Speed of Trust is an amazing book, starting with its novel and powerful title — my greatest wonder was why it hadn’t been written before. From the epigraph — ‘Speed happens when people truly trust each other’ — to the closing bell, this is a book worth savoring — and implementing.”
— Tom Peters
“When I received this book and was asked to read it and offer my comments, my first impulse was, ‘I don’t have the time.’ However, as I read the foreword, then the first few chapters, I could not put it down. It is exactly what business leaders need today. This book gets to the core roots of ethical behavior and integrity and how ‘trusted’ leaders and organizations do things better, faster, and at lower cost. Everyone should make the time to read this book.”
— Nolan D. Archibald, Chairman and CEO, The Black & Decker Corporation
“I am happier when I am trusted, and I bet you are too. Covey has done a masterful job teaching that trust is conditioned on our behavior and that we can consciously shift our behavior to deserve trust. This one realization can change your life. This is the best book by a Covey since 7 Habits.”
— Richard Carlson, Ph.D., author of Don’t Sweat the Small Stuff and Don’t Get Scrooged
See all Editorial Reviews
Hardcover: 384 pagesPublisher: Free Press; 1 edition (October 17, 2006)Language: EnglishISBN-10: 074329730XISBN-13: 978-0743297301 Product Dimensions: 6 x 1.2 x 9 inches Shipping Weight: 1.2 pounds (View shipping rates and policies) Best Sellers Rank: #27,008 in Books (See Top 100 in Books) #31 in Books > Business & Money > Business Culture > Ethics #312 in Books > Self-Help > Relationships > Interpersonal Relations #484 in Books > Business & Money > Personal Finance
Trust can make things easier, and distrust can definitely make things much harder. You already know that. But do you know how to check out where you need to change in order to create more beneficial trust? The Speed of Trust can help those who need a template for such self-examination.
Mr. Stephen M. R. Covey is the son of Dr. Stephen R. Covey of 7 Habits of Highly Effective People fame. If you’ve read that famous book, you may remember young Stephen referred to by his father as the seven-year-old son who was asked to keep the yard "clean and green" and did neither at first. Dr. Covey writes the foreword for this book and refers to that example. Ms. Rebecca Merrill helped with the writing of Dr. Stephen R. Covey’s book First Things First which was coauthored by Roger Merrill.
Trust is expressed by a paradigm that includes five waves of trust (self trust based on the principle of credibility, relationship trust based on the principle of proper behavior, organizational trust based on the principle of alignment, market trust based on the principle of reputation, and societal trust based on the principle of contribution). Most of the book is taken up with examining those five waves and their underlying principles. The core of the book comes, however, in the 13 behaviors that establish trust (talk straight, demonstrate respect, create transparency, right wrongs, show loyalty, get better, confront reality, clarify expectations, practice accountability, listen first, keep commitments, and extend trust). Each section of the book comes with ways to check on your performance and to create plans for improvement.
This book is by far the best development of the subject of creating and restoring trust that I have read. That makes the book an essential reference.
There is one thing that is common to every individual, organization, nation, and civilization throughout the world–one thing which, if removed, will destroy the most powerful government, the most successful business, the most thriving economy, the most influential leadership, the greatest friendship, and the deepest love. On the other hand, if developed and leveraged, that one thing has the potential to create unparalleled success and prosperity in every dimension of life. According to the author, that one thing is trust.
The author says that "The Five Waves of Trust" define the way we establish trust and make it actionable. Understanding these waves will enable you to speak and behave in ways that establish trust, allowing you to become a leader who gets results by inspiring trust in others.
First Wave: Self Trust. The key principle underlying this wave is credibility.
Second Wave: Relationship Trust. The key principle underlying this wave is consistent behavior.
Third Wave: Organizational Trust. The key principle underlying this wave, alignment, helps leaders create organizational trust.
Fourth Wave: Market Trust. The underlying principle behind this wave is reputation.
Fifth Wave: Societal Trust. The principle underlying this wave is contribution.
Here is a list of useful concepts I liked in the book:
Trust is the "hidden variable" in the formula for organizational success. The traditional business formula is: (Strategy x Execution = Results). But there is a hidden variable: (Strategy x Execution) x Trust = Results.
Trust always affects two outcomes: speed and cost. When trust goes down, speed goes down and cost goes up.
This book was distributed at work like candy at a Halloween party. New buzz words were written on the board and everyone was trust falling one another. The problem still remains: there’s more falling than trusting.
I enjoyed the first chapter and agree with the author’s sentiments: as trust improves, cost goes down and speed increases. I believe in Covey’s see, speak, behave architecture. The problem begins when Covey stretches the first chapter into over three hundred pages based on an analogy that doesn’t hold water (intentional pun).
The book reads more like Chicken Soup for the Corporate Soul versus a true introspection into business practice. There are some interesting stories, but beyond that, there’s not much to offer. The book seemed more tailored to stroke the egos of Covey’s corporate partners versus giving a hardened look at trust improvement.
Covey’s stories are full of fluff (back to the Chicken Soup comparison). He incorporates vague intensifiers at every opportunity: totally, apparently, extremely, really, very. "As luck would have it", over-worn clichés are not immune. These stories are used to help us accept a weak analogy on how to build trust.
Some stories were outright ludicrous. For instance, he determines the start of personal trust can be contained in such things as not hitting snooze on the alarm clock, but arising on the first ring, sleep deprived or not. I’m sorry, but this doesn’t fly with me. Maybe this is because I buy more into Mitch Albom’s The Timekeeper philosophy. I don’t believe my life is defined by an alarm clock.
I was most offended in Covey’s comparisons of Gandhi and the CEOs on Wall Street.
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