Practical Advice from ‘Smart Trust’ by Stephen M. R. Covey (An Actionable Books summary)

“In today’s networked world, trust has become the new currency.”

Smart Trust, page xxiii

Would you loan me $20?

Unless you know me personally, probably not.

When you buy a book at Amazon.com, do you take the great deal offered by BrandNewSeller#37 and get a “like new” used copy for half price, or do you pay full price to get it from Amazon?

Take a look at Transparency International’s Corruption Perceptions Index. Chart the gross domestic product of each nation, and note the near-perfect correlation between trust to prosperity, worldwide.

From individuals to companies to entire nations, trust affects not only how we do business, but how much business we do. If we are perceived to be trustworthy, business is streamlined. There’s less muss and fuss when both players trust. Warren Buffett has closed multimillion dollar deals on, literally, a handshake, because there was trust on both sides.

Introduced in his first book The Speed of Trust, Covey’s concept of “smart trust” aims to help us find a human and rational balance between our innate desire to trust and our learned fear of being taken for a ride and then asked to pay the fare.

Here’s what you’ll learn: … more … “Practical Advice from ‘Smart Trust’ by Stephen M. R. Covey (An Actionable Books summary)”