The SPEED of Trust - Deepstash

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STEPHEN R COVEY

If there’s one thing that a relationship, individual, team, company, or economy have in common, it is trust.

STEPHEN R COVEY

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The One Thing That Changes Everything

Trust isn’t something that can be touched, but it’s actually a business asset that’s created to provide economic value. When there’s more trust, the quality of work increases while the costs decrease automatically.

Trust is seen as a hidden variable in companies and whether it’s low or high, it’s the secret ingredient for success. If you have colleagues or friends that trust you, you can say anything and might never be misunderstood.

To avoid a decline in trust, you need to figure out who you can trust and also understand who trusts you. 

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The 1st Wave - Self Trust

Increase credibility by understanding the 4 cores. 

  • Integrity is the root. To increase it, you can be courageous and stand up for something you truly believe in.
  • Intent. Even if you declare that you really care, your behavior will translate that into reality. Therefore, it’s best to re‐examine your motives and declare the intent before anything else.
  • Capabilities. Enhance your capabilities by understanding your strengths and sticking to them as you go.
  • Results. In order to improve results, you need to trust yourself and expect to come out on the winning side and take responsibility for it.

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The 2nd Wave - Relationship Trust

Behavior as “trust accounts” are a mixture of competence and character to build a relationship.

  • Your very first behavior is to talk straight and honestly.
  • You need to demonstrate respect because it’s essential to be respected at your workplace
  • You need to be genuine and speak the truth
  • Correct the mistakes you may have committed.
  • Be loyal and give credit to others when it’s due.
  • Delivering results is the only way to convince some cynics
  • Learn and improve to get better every day
  • Deal with your issues and confront the reality
  • Clarifying expectations and discuss them.
  • Practice accountability

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The 2nd, 3rd, and 4th Wave- Stakeholder Trust

  • Organizational trust revolves around internal stakeholders. Leaders can choose to look at principles of trust than taking a look at the symptoms.
  • Market Trust: Customers usually buy products and recommend them to others only when they trust the company. Each individual is tagged with a brand and can impact the speed and cost at a micro-level.
  • Societal Trust: It is based on external shareholders and its principle is based solely on contribution. Societal trust is based on creating value rather than diminishing it.

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Inspiring Trust

In order to build more trust, you need to find ways to apply them and also grab opportunities to teach them and convey your messages to others. 

The prime difference between a leader and a manager is that the leader inspires trust. if a manager distrusts his employees, his judgment could be clouded and he might lose out on innovation and other creative ideas. 

Companies that extend trust become successful automatically. Additionally, trust is always reciprocal and this means that if you extend your trust to someone, he/she will do the same to you.

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IDEAS CURATED BY

jessicadelgado

Medical sales representative

Jessica Delgado's ideas are part of this journey:

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