2110: Speed of Trust- Transforming Transactions into Relationships | Stephen M.R. Covey

Today's 10th episode guest is Stephen M.R. Covey, son of the late Dr. Stephen Covey, known for "The 7 Habits of Highly Effective People." They discuss Covey's book "The Speed of Trust," emphasizing the importance of trust in leadership. Jason also criticizes sensationalized predictions by financial gurus and questions why people don't sue them for missed opportunities. He promotes taking action and avoiding a spectator mentality in investing. The episode also previews the upcoming Empowered Investor Cruise with guest speakers Robert Helms, Scot Porier and more.

https://empoweredinvestorlive.com/

Jason welcomes Stephen M.R. Covey as they discuss his book "The Speed of Trust." In business, cultivating trust is key for successful deals and relationships. The principle of "win-win or no deal" emphasizes fair collaboration, where both parties benefit. Trust fosters enduring relationships, enabling faster, more efficient cooperation. Smart trust involves assessing situations, clarifying expectations, and ensuring accountability. While contracts are necessary, they can't substitute genuine trust. Transparent, open, and fair dealings build reputations that lead to repeat and referral business. Long-term success lies in creating a high-trust culture, where mutual respect and consideration drive not just transactions, but positive, enduring partnerships.

Key Takeaways:

Jason's editorial

2:15 We welcome Stephen M.R. Covey to our 10th show

3:16 Why do people trust these people

8:37 Join the Empowered Investors cruise https://empoweredinvestorlive.com/

Stephen M.R. Covey interview

11:17 Welcome, Stephen

12:26 What is trust?

13:51 A tall order- developing trust

16:56 Smart trusting- giving trust without being a 'doormat'

20:00 Trust- AND verify

22:03 Trust in Fortune 1,000 companies

24:39 High trust dividends

29:37 My cynical views and a perpetual downward cycle

34:35 Solutions in building trust

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