Smart Trust by Stephen M.R. Covey and Greg Link

Last updated: Jul 28, 2023

Summary of Smart Trust by Stephen M.R. Covey and Greg Link

Smart Trust, written by Stephen M.R. Covey and Greg Link, is a book that explores the concept of trust and its importance in both personal and professional relationships. The authors argue that trust is the foundation of all successful interactions and that it can be developed and leveraged to create positive outcomes.

The book begins by defining trust as the willingness to be vulnerable and take risks based on the belief that others will act in our best interests. The authors emphasize that trust is not blind faith, but rather a combination of character and competence. They introduce the concept of "smart trust," which involves assessing the situation and making informed decisions about when and how much trust to extend.

The authors identify five actions that can help individuals and organizations build and maintain trust. The first action is to choose to trust, which involves making a conscious decision to extend trust to others. The second action is to start with self-trust, as trust begins with oneself and the ability to trust one's own judgment and abilities.

The third action is to declare your intent, which involves being transparent and open about your intentions and motives. This helps to build trust by showing others that you have nothing to hide. The fourth action is to do what you say you will do, as trust is built on reliability and consistency. The fifth action is to lead out in extending trust to others, as trust is a reciprocal process that requires both parties to take the first step.

The authors also discuss the importance of trust in leadership and how leaders can create a culture of trust within their organizations. They argue that trust is essential for effective collaboration, innovation, and high-performance teams. They provide practical strategies for leaders to build trust, such as setting clear expectations, providing feedback, and empowering others.

Throughout the book, the authors provide numerous examples and case studies to illustrate the power of trust and its impact on individuals and organizations. They also address common misconceptions and myths about trust, such as the belief that trust is a soft skill or that it can be built overnight.

In conclusion, Smart Trust is a comprehensive guide to understanding and developing trust in all aspects of life. The authors provide practical advice and strategies for building trust, and they emphasize the importance of trust in creating successful relationships and organizations.

1. Trust is the foundation of all relationships

In "Smart Trust," Covey and Link emphasize that trust is the cornerstone of any successful relationship, whether it be personal or professional. Trust is the glue that holds people together, allowing them to collaborate, communicate, and work towards common goals. Without trust, relationships become strained, and progress becomes difficult.

The authors explain that trust is built through a combination of character and competence. Character refers to a person's integrity, honesty, and intent, while competence refers to their skills, knowledge, and track record. By consistently demonstrating both character and competence, individuals can establish trust with others, creating a solid foundation for effective relationships.

2. Trust is a learnable skill

Contrary to popular belief, trust is not solely based on innate qualities or luck. Covey and Link argue that trust is a learnable skill that can be developed and improved over time. They provide practical strategies and techniques for building trust, such as being transparent, keeping commitments, and extending trust to others.

The authors emphasize the importance of self-trust as a starting point for building trust with others. By being true to oneself, understanding personal values, and aligning actions with principles, individuals can cultivate a strong sense of self-trust. This self-trust then becomes the foundation for building trust with others, creating a positive ripple effect in relationships and organizations.

3. Trust accelerates speed and reduces costs

One of the key insights from "Smart Trust" is that trust has a direct impact on efficiency and effectiveness. When trust is present, communication flows more smoothly, decisions are made faster, and collaboration becomes more productive. This acceleration in speed leads to reduced costs and increased productivity.

The authors explain that trust eliminates the need for excessive bureaucracy, micromanagement, and unnecessary processes. When individuals trust each other, they can delegate tasks, make decisions, and take risks with confidence, knowing that others have their best interests at heart. This streamlined approach allows organizations to operate more efficiently, saving time and resources.

4. Trust is a competitive advantage

In today's fast-paced and interconnected world, trust is a valuable asset that can give individuals and organizations a competitive edge. Covey and Link argue that trust is a multiplier that enhances performance, innovation, and collaboration. When trust is present, individuals are more willing to take risks, share ideas, and work together towards common goals.

The authors provide examples of companies that have leveraged trust as a competitive advantage, such as Zappos and Southwest Airlines. These organizations have built a culture of trust, where employees feel empowered, valued, and supported. As a result, they are more engaged, creative, and committed to delivering exceptional results.

5. Trust is essential for effective leadership

"Smart Trust" highlights the critical role of trust in effective leadership. Leaders who are trusted by their team members are more likely to inspire loyalty, commitment, and high performance. Trusting leaders create a safe and supportive environment where individuals feel empowered to take risks, learn from failures, and contribute their best work.

The authors emphasize that trust is a two-way street, and leaders must extend trust to their team members in order to receive trust in return. By demonstrating trust in their team's abilities and providing them with autonomy and support, leaders can foster a culture of trust that drives success.

6. Trust is built through small actions

Covey and Link emphasize that trust is not built overnight but is rather a result of consistent small actions over time. Trust is built through keeping commitments, being reliable, and demonstrating integrity in everyday interactions. These small actions, when repeated consistently, create a track record of trustworthiness.

The authors encourage individuals to be mindful of their actions and the impact they have on trust. They provide practical tips for building trust, such as being transparent, admitting mistakes, and actively listening to others. By focusing on these small actions, individuals can gradually build trust and strengthen their relationships.

7. Trust is a choice

"Smart Trust" emphasizes that trust is a choice that individuals can make. While trust may involve some level of risk, the authors argue that the benefits of trust far outweigh the potential downsides. Trusting others allows for greater collaboration, innovation, and growth.

The authors provide a framework for making smart trust choices, which involves assessing the situation, considering the risks and benefits, and making an informed decision. They also emphasize the importance of extending trust to others, as trust begets trust. By choosing to trust, individuals can create a positive cycle of trust that benefits everyone involved.

8. Trust can be repaired

Even in the face of betrayal or broken trust, "Smart Trust" offers hope that trust can be repaired. The authors acknowledge that rebuilding trust takes time, effort, and consistent actions. However, they emphasize that it is possible to restore trust and rebuild relationships.

The authors provide a roadmap for repairing trust, which involves acknowledging the breach, taking responsibility, and making amends. They also emphasize the importance of open communication, empathy, and forgiveness in the trust repair process. By actively working towards rebuilding trust, individuals can heal relationships and create a stronger foundation for the future.