Covey on Building Trust Accounts

M.L. Covey, in The Speed of Trust (2006), on whom I've been drawing extensively lists six points about building trust accounts. They come from pp. 130-132:

1. "Each Trust Account is Unique. There is a great deal of difference in the account I have with my three-year-old daughter and the one I have with my nineteen-year-old son."

2. "All deposits and withdrawals are not created equal. Often the little things can be disproportionately large."

3. "What constitutes a 'deposit' to one person may not to another."

4. "Withdrawals are typically larger than deposits. As Warren Buffett has said, 'It takes twenty years to build a reputation and five minutes to ruin it."

5. "Sometimes the fastest way to build trust is to stop making withdrawals."

6. "Recognize that each relationship has two trust accounts. The way you perceive the amount of trust in a relationship and the way the other person perceives it may be different."

I would add here that a trust account is like a gas tank, in that if you don't continually fill up your tank, i.e. make deposits, your trust will become depleted.

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