May 2007
Art of NetworkingNothing Is as Fast as the Speed of Trust
Why trust is essential to a thriving business.
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—Edward Marshall
If you're not fast, you're dead.
—Jack Welch
What is the primary benefit that BNI offers its members? What benefit could be so powerful that it would account for BNI's rapid global growth? The answer is SPEED.
The primary advantage of a trusted network, or a "trustwork™" as we like to call it, is the SPEED with which you do business. And the secret to this is TRUST. We call it The SPEED of TRUST™. We contend that nothing is as fast as The SPEED of TRUST.
We recently moved into larger offices—a daunting task when added to the demands of operating a business. To make matters worse, this move required a new phone system well beyond the sophistication of our current one. Comparing all the options and discerning which enterprise level phone system to choose was daunting.
Enter TRUST. Through a trusted friend, we were referred to his trusted phone expert, who has a proven track record. We saved weeks of time! As old Ben Franklin said, "Time is money." Yes, SPEED is the ultimate benefit of trusted referrals.
For years we have taught that people no longer buy from those they like but from those they trust. Referrals transfer this trust. Contrary to what most people believe, trust is not some soft, elusive quality that you either have or don't. Rather, trust is a pragmatic, tangible, performance multiplier that you can create—much faster than you probably think possible.
As New York Times columnist Thomas Friedman observes in The World Is Flat, this new "flat" economy revolves around partnering and relationships. And partnering and relationships thrive or die based on trust. Friedman states, "Without trust, there is no open society, because there are not enough police to patrol every opening in an open society. Without trust, there can also be no flat world, because it is trust that allows us to take down walls, remove barriers, and eliminate friction at borders. Trust is essential for a flat world … "
Who Do You Trust, and Who Trusts You?
So who do you trust? Think about your own experience with regard to this question. Do you trust a friend? A work associate? Your boss? Your spouse? A parent? A child? Why do you trust this person? What is it that inspires confidence in this particular relationship?
Now consider an even more provocative question: Who trusts you? Or who trusts you enough to refer people to you? At home? At work? Someone you've just met? Someone you've known for a long time? What is it in you that inspires people to trust you? If you would like to find out how trusted you are by others, take a brief, free survey at www.whotrustsyou.com.
Most of us tend to think about trust in terms of character—of being a good, sincere, ethical person. While character is foundational, competence is also important. Character includes your integrity, motive, and intent with people. Competence includes your capabilities, skills, results, and track record. Both are vital.
With increased focus on ethics in our society, the character side of trust is fast becoming the price of entry into the new, global economy. However, the differentiating and often ignored side of trust—competence—is equally essential.
How Credible Are You?
In our corporate training programs, we often do a one-to-one, pre-work exercise with individual participants in which they are given picture cards of the people with whom they work and asked to quickly sort them into two stacks: "I tend to trust this person" or "I tend to not trust this person." It's always fascinating to see how fast people make these decisions. Most individuals have an immediate reaction of trust or distrust. It's also interesting that, in most cases, the same people tend to be trusted or not trusted.
Think about the people you know, one by one. Which stack would you immediately put their pictures in? Why? Now, for the tougher question: If your picture were included in a group of picture cards, which stack would your associates put your picture in? And why?
As you continue to network, keep in check how "trustworthy" you are—it will make the difference in the speed with which you grow your business. We contend that the ability to establish, grow, extend, and restore trust is the key business and leadership competency of the new, global economy; and we have identified 13 behaviors common to high trust leaders throughout the world. Our experience shows that those who master and demonstrate these behaviors and become high-trust individuals are more likely to be promoted, make more money, receive the best opportunities, get more referrals and have more fulfilling and joyful relationships. They enjoy ever-expanding spheres of influence in their businesses and their lives.
Stephen M.R. Covey is the author of The Speed of Trust—The One Thing That Changes Everything, a groundbreaking and paradigm-shifting book published by Simon & Schuster, New York and London. Covey is co-founder and CEO and Greg Link is co-founder and President of CoveyLink Worldwide, a boutique global consultancy on trust and ethics in the business and social sectors. They equip their clients to install trust as a hard-edged economic driver—a learnable and measurable core competency that makes their organizations more profitable, people more promotable, and relationships more energizing.
To purchase The Speed of Trust, go to Barnes & Noble.com, Amazon.com, or your favorite bookseller. To discover how trusted you are by others, go to www.whotrustsyou.com for a brief, free analysis.
