Conversely, high trust acts as a dividend. When your team trusts you, decisions are made faster. Innovation increases because people aren't afraid to fail. Processes are streamlined. Covey cites real-world examples, such as Warren Buffett acquiring McLane Distribution from Walmart. Because of the high trust between the parties, the deal was closed in a two-hour meeting without the usual months of due diligence—saving millions in legal and accounting fees.
Give trust to others, rather than withholding it until they "earn" it. Why People Seek "The Speed of Trust" PDF The Speed Of Trust Stephen M R Covey Pdf
Low trust causes friction. It leads to redundant checks, bureaucracy, and endless politics, slowing everything down and increasing costs. Conversely, high trust acts as a dividend