There is a compelling YouTube video called Did You Know? (you may want to turn down your speakers a little) that will stretch your thinking.  Over 4 million views.  At the end it asks: So what does it all mean?  To us it means Trust matters more than ever.  It reminds us why sparking a global renaissance of trust is such a critical imperative.

No matter what your personal or organizational objectives are for 2009–Start with Trust!  Trust is the most overlooked, underestimated source of success in life.  Any attempt to change an organization overlayed on a low trust culture is destined to fail or at least be dramatically suboptimized.  The friction of low trust sabatoges even the most brilliant strategy.  On the career side even the most heart felt determination to change will be undermined by low self trust.  You must first keep commitments to yourself and build your credibility with yourself.   Your attempts to influence others when you have low credibility in thier eyes is risky.

On the weekend that the U.S. Congress and Senate were debating a financial package Stephen and I attended a BBC televised  debate from the World Economic Forum on the impact that the economic crisis would have on China.  It was fascinating.  The woman pictured was from Taiwan, others were from Mainland China and Western firms.  Consensus was that China has not yet gotten involved in the financial industries like the west.  Their economy is still growing in the more stable and traditional industries of manufacturing, agriculture and real estate. They are also cash rich and actually may benefit by buying Western assets for low prices.  The ultimate threat is lack of demand for their exports if other economies loose buying power.

In an interview with Forbes.com executive editor David A. Andelman, Covey explains the significance and mechanics of trust–how to build it, keep it and profit from it.

Stephen M. R. Covey: I use a very simple definition of trust. By trust, I mean confidence. Confidence. The opposite of that–distrust–is suspicion.

See, I don’t trust someone if I’m suspicious about his motive or agenda or integrity. I do trust when I feel confident about it. It’s like Jack Welch said–I could give you a dictionary definition of trust, but you know it when you feel it. And what you feel is confidence.

As Stephen stated emphatically in a recent presentation: “We define TRUST  as comprising both character AND competence. The ability to establish, grow, extend, and restore TRUST with all stakeholders— customers, suppliers, investors, and employees— is the critical leadership competency required in the new, global economy.”

 More important than VISION, you ask? Yes! No matter how grand a vision, the high cost of low trust can stop you from reaching it profitably.

 More important than STRATEGY? Yes! While high trust can‘t make a poor strategy succeed, the high cost of low trust can derail an otherwise great strategy.

 More important than SYSTEMS and STRUCTURE? Yes! No degree of re-engineering and quality or cost control can overcome the sabotage and tax of a low trust culture.

 More important than SKILLS? Yes! No matter how skilled a group, the high cost of low trust can derail their potential success. Nothing repels talent like a high control, low trust workplace. 

 We call it the ‘SPEED of TRUST™.’ Doing business at the SPEED of TRUST is both more financially rewarding AND just plain more fun and energizing!”