The Speed of Trust Summary Mei Fung Chai There is always myth saying that we cannot regain trust

after it once lost. But, in reality, we can always do something about it like building the trust. Trust is measurable. It can be created or destroyed. When we have lower trust, the speed goes down and the cost goes up. On the other hand, when we have higher trust, the speed goes up and the cost goes down. People wanted to be trusted. Character (integrity/root) and Competence (capabilities/skills) are essentials of trust. There are 5 waves of trust. First of all, Self Trust- Credibility. This is about the confidence in us and keeping the commitment. There are 4 cores factors that we can increase it. Character--First core is integrity-honesty and walk the talk. Second core is intent-motives, agenda, and behavior & genuinely cares. Competence--Third core is capabilities-abilities that inspire talents, attitudes, skills, knowledge and style. Fourth core is results-track records and set the right thing done. Second wave is Relationship Trust- Behavior. It is the trust account that we have with others. Its about consistence behavior. It requires 13 behaviors for the relationship trust. These behaviors are actionable immediately and based on principles. They are (character-based) talk straight, demonstrate respect, create transparency, right wrongs, show loyalty, (competence-based) deliver results, get better, confront reality, clarify expectations, practice accountability, (character & competence based) listen first, keep commitments and extend trust. Lower trust violates the behavior of character. Higher trust demonstrates the behavior of competence. Third wave is Organizational Trust- Alignment. It is about how the leaders generate trust. Family is an organization too. Its important to know that everything else in organizations will have positive influence when theyre aligned in a structure to create a culture of trust. Fourth wave is Market Trust- Reputation. It is about brand/reputation as well as personal brand. It deals with the external stakeholders. Whatever trust we are able to create in our organization and market place is a result of credibility we first create in ourselves. Four cores and 13 behaviors can help increase the brand value. Fifth wave is Societal Trust- Contribution. Its about creating values for others and for society. Give instead of take and be a responsible global citizen. Global citizenship is an economic necessity, balanced scorecard and an individual choice too. We decide and put the decision into actions. We have to recognize the importance of all stakeholders and the importance of the quality of life, not just the financial profit.

Leaders that extend trust are mentors and models for others. Extending trust can create great dividends or significant risk. So, we have to extend the Smart Trust. There are 2 extremes in trust. One is Distrust where people trust only themselves, theyre suspicious. Another one is Blind trust where people believe in anyone, theyre gullible and dont know that they need to protect themselves. There are 2 factors in learning how to extend Smart Trust. They are Propensity to Trust where heart matter (tendency to believe that people are trustworthiness) and Analysis where mind matter (evaluate and look for solution). There are 4 zones in the Smart Trust Matrix. Zone 1 is Blind Trust Zone of Gullibility- People in this category are very likely to fall into any scam because of high propensity and low analysis. Zone 2 is Smart Trust Zone of Judgment- They have good people and business judgments include good instinct because of high propensity and high analysis (lowest risk & highest return). Zone 3 is No Trust Zone of Indecision- People are insecure and they cant even trust themselves because of low propensity and low analysis. Zone 4 is Distrust Zone of Suspicion- They do not trust anyone except themselves and extend the trust very carefully with their own analysis because of low propensity and high analysis. Dont be too quick to judge (dont make false assumptions as many mistakes are not intentional) and be quick to forgive (bring clarity to ourselves away from anger and forgive those who have wronged us not by what they do, but what we do) are guidelines to restore the trust. Take the broken trust as a new beginning. Get ourselves back on the right path, improve and behave to inspire and extend trust.