The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

229. How Vulnerability Loops Make Team Communication More Effective

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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Building Trust in Business

When Stephen M.R. Covey was on the show talking about his book, The Speed of Trust, we discussed his equations for the economics of trust. Essentially, when there's increased trust, things take less time and cost less money. If people are worried about perfection, they aren't going to point out areas of concern. This is also why that tit for tat strategy proves to be the best one in the long run.

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