Trust Dividend

This is the second of the couple of steps back I took to catch up on Covey's economics of trust, as laid out in his The Speed of Trust (2006), pp. 13ff.

For Covey Trust=Speed-Cost. Coveys argues that increasing trust acts like a dividend. If decreasing trust acts like a tax by slowing business transactions down and making them cost more, then increasing trust speeds up transactions and decreases cost. And cost includes more than just pecuniary costs. If time=money, slower transactions are more expensive transactions.

Think about it. When people trust each other, they don't have to spend time worrying that the other person is who he or she says they are, they don't have to hire attorneys to go over absolutely everything (Nothing personal you attorneys out there--you provide a valuable service), they commission fewer studies, they make decisions faster, and things just work better. Better=Faster and Cheaper.

When people lost their trust in the real estate industry, look what happened. Everything CNN has been covering for the last 2 years.

My goal here is to bring out more skilled entrepreneurs. How am I doing? What do you think of this? Any comments?

Entrepreneurship is the life's blood of all my professional activities. It makes them go. It informs my connection strategy.

It makes Your Stop for Real Estate, my real estate referral business, go. See www.yourstopforrealestate.blogspot.com.

It powers my writing. Go to www.timswritingblog.blogspot.com for my ideas on writing and publishing and read my mystery for free at wwww.kearneymusicschoolmurders.blogspot.com or buy it from Amazon.com more cheaply than you can print it out.

It fuels my publishing enterprise, By and for Writersgo. See www.byandforwriters.blogspot.com where you can get a poem or a short story published.