What is the most valuable commodity in life and business?
Money? Knowledge? Connections? Time?
All are important. But after more than 50 years in business and leadership, I have come to believe that one stands above the rest.
Trust.
In his 2006 bestselling book, The Speed of Trust, Stephen M. R. Covey makes a powerful observation: When trust goes up, speed goes up and costs go down. When trust goes down, speed slows and costs increase.
Think about it.
When you trust someone, decisions are made faster. You don’t need endless meetings, complicated agreements or constant supervision.
But when trust is missing, even simple transactions become difficult.
1. Trust begins with integrity
In one of my earlier columns, I shared how, as a young life insurance agent in Bacolod, I refused to give a prospective client an illegal rebate on his insurance premium, even though I badly needed the business.
I lost the sale, but I kept my integrity.
I have always believed that your reputation is worth more than any single transaction.
People must know that your word means something, even when keeping it costs you money.
2. Trust is built through small promises
I have written before about my obsession with punctuality.
I make it a point never to be late for meetings, family gatherings, appointments or speaking engagements.
Why?
Because when I promise to be somewhere at a particular time, I consider that a commitment.
The same applies to returning calls, meeting deadlines and finishing what we start.
Every promise kept strengthens trust. Every promise broken weakens it.
Over time, those small acts compound.
3. Trust makes organizations move faster
In our Pages Food Group, we emphasize accountability, transparency and completed staff work.
When people consistently deliver what they promise, leaders don’t have to micromanage.
Decisions become faster. Execution improves. Problems get resolved without unnecessary delays.
But when people repeatedly fail to deliver, management introduces more controls, reports and approvals.
And those controls cost time and money.
That’s the economics of trust.
4. Trust must be earned every day
You cannot demand trust simply because you’re the boss.
You earn it by telling the truth, admitting mistakes, treating people fairly and doing what you say you will do.
And once earned, you must protect it.
Final thoughts
Trust takes years to build, seconds to destroy and sometimes a lifetime to restore.
Covey reminds us that trust is not merely a moral virtue. It is also an economic advantage.
My advice?
Be honest. Keep your promises. Deliver results. Treat people well.
Because money can be lost and earned again. Opportunities can come and go.
But once you lose people’s trust, getting it back may be the hardest thing you’ll ever have to do.