We all know that trust is important in life. We generally think of trust in terms of our personal relationships, but trust is a major factor in our professional lives as well.
We don’t often look at trust and how it can impact us financially. Again, we know it is important in our relationships with our spouse and family. But trust is equally important in business.
Stephen Covey addresses this in his book, “Speed of Trust.” He explains that when trust is low, the speed slows down and the cost goes up. This has a direct financial impact on your business or organization.
He gives many examples, but the one that I love the best is what happened with airport security after 9/11. Prior to 9/11 we had great trust in the safety of flying so you could arrive just 30 minutes prior to your boarding time in most cases. After 9/11 with increased security measures you had to start arriving at least an hour or more earlier than before in most cases. This has drastically affected the speed of airport travel and just imagine the impact on cost!
So trust really is the one thing that changes everything! And trust can be built and increased. If you have never read his book, “The Speed of Trust,” I highly recommend it!
Ps. Check out my list of top books for entrepreneurs and sales professionals HERE.