[Music] like many entrepreneurs I grew up in a
like many entrepreneurs I grew up in a
like many entrepreneurs I grew up in a family of small business owners in fact
family of small business owners in fact
family of small business owners in fact my parents bought a retail store on my
my parents bought a retail store on my
my parents bought a retail store on my seventh birthday but it wasn’t just any
seventh birthday but it wasn’t just any
seventh birthday but it wasn’t just any store it was a Hallmark store literally
store it was a Hallmark store literally
store it was a Hallmark store literally everyone I knew growing up cared enough
everyone I knew growing up cared enough
everyone I knew growing up cared enough to send the very best so when I ventured
to send the very best so when I ventured
to send the very best so when I ventured out into the business world helping to
out into the business world helping to
out into the business world helping to build companies I quickly found that not
build companies I quickly found that not
build companies I quickly found that not everybody cared this much in fact I was
everybody cared this much in fact I was
everybody cared this much in fact I was bought out of a business for $35 before
bought out of a business for $35 before
bought out of a business for $35 before being fired and I watched as disgruntled
being fired and I watched as disgruntled
being fired and I watched as disgruntled business partners sent letters from
business partners sent letters from
business partners sent letters from their attorneys to the offices next door
their attorneys to the offices next door
their attorneys to the offices next door to them and I’ve experienced the
to them and I’ve experienced the
to them and I’ve experienced the betrayal of embezzlement from somebody I
betrayal of embezzlement from somebody I
betrayal of embezzlement from somebody I considered a friend but all this caused
considered a friend but all this caused
considered a friend but all this caused me to evaluate the role that Trust plays
me to evaluate the role that Trust plays
me to evaluate the role that Trust plays and it’s nothing like you expect it to
and it’s nothing like you expect it to
and it’s nothing like you expect it to be Trust is not a measure of how many
be Trust is not a measure of how many
be Trust is not a measure of how many customers a business has there are
customers a business has there are
customers a business has there are plenty of companies with thousands of
plenty of companies with thousands of
plenty of companies with thousands of customers that don’t even want to do
customers that don’t even want to do
customers that don’t even want to do business with them but there are a few
business with them but there are a few
business with them but there are a few companies that are truly loved and we
companies that are truly loved and we
companies that are truly loved and we can represent the value of trust we see
can represent the value of trust we see
can represent the value of trust we see in a very simple equation first we learn
in a very simple equation first we learn
in a very simple equation first we learn to trust personally through our own
to trust personally through our own
to trust personally through our own interactions and experiences whether
interactions and experiences whether
interactions and experiences whether it’s with a person or a product then we
it’s with a person or a product then we
it’s with a person or a product then we add to or subtract the value we see in a
add to or subtract the value we see in a
add to or subtract the value we see in a brand now these two are actually quite
brand now these two are actually quite
brand now these two are actually quite different for example I may not have
different for example I may not have
different for example I may not have experienced foodborne illness from a
experienced foodborne illness from a
experienced foodborne illness from a restaurant but knowing that others have
restaurant but knowing that others have
restaurant but knowing that others have affects my view of trust in that come in
affects my view of trust in that come in
affects my view of trust in that come in that restaurants brand personal and
that restaurants brand personal and
that restaurants brand personal and brand trust are then multiplied by
brand trust are then multiplied by
brand trust are then multiplied by innovation where we gauge how the
innovation where we gauge how the
innovation where we gauge how the products themselves build trust
products themselves build trust
products themselves build trust typically by their uniqueness
typically by their uniqueness
typically by their uniqueness which we call innovation but in order to
which we call innovation but in order to
which we call innovation but in order to create personal trust businesses
create personal trust businesses
create personal trust businesses typically hire experts and they call
typically hire experts and they call
typically hire experts and they call these experts salespeople now the
these experts salespeople now the
these experts salespeople now the unfortunate reality is that these
unfortunate reality is that these
unfortunate reality is that these assassins of trust often miss their mark
assassins of trust often miss their mark
assassins of trust often miss their mark because because we’re looking for trust
because because we’re looking for trust
because because we’re looking for trust more than we are expertise now you’ve
more than we are expertise now you’ve
more than we are expertise now you’ve probably experienced this I was recently
probably experienced this I was recently
probably experienced this I was recently in another country in which I only spoke
in another country in which I only spoke
in another country in which I only spoke a few words of the language and what do
a few words of the language and what do
a few words of the language and what do you do when you’re lost you look for
you do when you’re lost you look for
you do when you’re lost you look for someone that looks like you do
someone that looks like you do
someone that looks like you do hopefully dresses like you do and and
hopefully dresses like you do and and
hopefully dresses like you do and and hopefully speaks English
hopefully speaks English
hopefully speaks English but in this case I was approached by a
but in this case I was approached by a
but in this case I was approached by a couple as they walked left and right
couple as they walked left and right
couple as they walked left and right down cobblestone streets and as they
down cobblestone streets and as they
down cobblestone streets and as they approached me they were seeking a pub
approached me they were seeking a pub
approached me they were seeking a pub for dinner now I’ve been in Copenhagen
for dinner now I’ve been in Copenhagen
for dinner now I’ve been in Copenhagen for a total of two hours so immediately
for a total of two hours so immediately
for a total of two hours so immediately I became their personal concierge and I
I became their personal concierge and I
I became their personal concierge and I shared with them the full extent of my
shared with them the full extent of my
shared with them the full extent of my knowledge well I actually passed a pub a
knowledge well I actually passed a pub a
knowledge well I actually passed a pub a couple blocks back and I’m confident
couple blocks back and I’m confident
couple blocks back and I’m confident that they went there because you see
that they went there because you see
that they went there because you see people are pursuing trust more than they
people are pursuing trust more than they
people are pursuing trust more than they are a local with expertise but that’s
are a local with expertise but that’s
are a local with expertise but that’s often how we start business
often how we start business
often how we start business relationships looking for familiarity in
relationships looking for familiarity in
relationships looking for familiarity in order to gain knowledge but the way we
order to gain knowledge but the way we
order to gain knowledge but the way we build trust personally is the same
build trust personally is the same
build trust personally is the same whether it’s with a person or a product
whether it’s with a person or a product
whether it’s with a person or a product and psychologists tell us that we walk
and psychologists tell us that we walk
and psychologists tell us that we walk through this progression where we look
through this progression where we look
through this progression where we look at the attraction of the romance stage
at the attraction of the romance stage
at the attraction of the romance stage and the struggle in a power struggle
and the struggle in a power struggle
and the struggle in a power struggle stage and we reach this stage of
stage and we reach this stage of
stage and we reach this stage of stability where we gauge whether or not
stability where we gauge whether or not
stability where we gauge whether or not a product would be reliable and finally
a product would be reliable and finally
a product would be reliable and finally we reach a stage of commitment where
we reach a stage of commitment where
we reach a stage of commitment where we’re willing to invest significantly in
we’re willing to invest significantly in
we’re willing to invest significantly in that product but beyond this stage lies
that product but beyond this stage lies
that product but beyond this stage lies a stage where very few of us venture a
a stage where very few of us venture a
a stage where very few of us venture a stage called co-creation now co-creation
stage called co-creation now co-creation
stage called co-creation now co-creation happens when we as customers take an
happens when we as customers take an
happens when we as customers take an active role in the building of a product
active role in the building of a product
active role in the building of a product and I can think of no better example
and I can think of no better example
and I can think of no better example right now than what some are referring
right now than what some are referring
right now than what some are referring to as the IKEA effect and for those of
to as the IKEA effect and for those of
to as the IKEA effect and for those of you unfamiliar there is a relatively
you unfamiliar there is a relatively
you unfamiliar there is a relatively large Swedish furniture store of which
large Swedish furniture store of which
large Swedish furniture store of which the closest to us is about three hours
the closest to us is about three hours
the closest to us is about three hours that direction and this unusually large
that direction and this unusually large
that direction and this unusually large store creates cheap foreigner
store creates cheap foreigner
store creates cheap foreigner sure that you need to assemble yourself
sure that you need to assemble yourself
sure that you need to assemble yourself that’s correct you upon making your
that’s correct you upon making your
that’s correct you upon making your purchase become an amateur furniture
purchase become an amateur furniture
purchase become an amateur furniture builder using rudimentary tools and
builder using rudimentary tools and
builder using rudimentary tools and stick figure directions but something
stick figure directions but something
stick figure directions but something happens in this process as you are
happens in this process as you are
happens in this process as you are creating this piece you become more
creating this piece you become more
creating this piece you become more attached to it and eventually you look
attached to it and eventually you look
attached to it and eventually you look down at this relatively poorly
down at this relatively poorly
down at this relatively poorly constructed piece of furniture and you
constructed piece of furniture and you
constructed piece of furniture and you tell others I built that
something amazing happens there because
something amazing happens there because we don’t trust people that try to sell
we don’t trust people that try to sell
we don’t trust people that try to sell to us but we do trust people that want
to us but we do trust people that want
to us but we do trust people that want to create with us
to create with us
to create with us you see brands create trust differently
you see brands create trust differently
you see brands create trust differently than people do a brand and it’s very
than people do a brand and it’s very
than people do a brand and it’s very core is a story and every story contains
core is a story and every story contains
core is a story and every story contains certain elements a character setting
certain elements a character setting
certain elements a character setting rising action you know their conclusion
rising action you know their conclusion
rising action you know their conclusion and you remember the story art from
and you remember the story art from
and you remember the story art from school right but most brands do a great
school right but most brands do a great
school right but most brands do a great job of telling the beginning of their
job of telling the beginning of their
job of telling the beginning of their story or they tell you about their
story or they tell you about their
story or they tell you about their characters but and they in general tell
characters but and they in general tell
characters but and they in general tell you a pretty good idea of how the end of
you a pretty good idea of how the end of
you a pretty good idea of how the end of the story works where they tell you
the story works where they tell you
the story works where they tell you about how that product would do things
about how that product would do things
about how that product would do things for you but you see most brands do a
for you but you see most brands do a
for you but you see most brands do a horrible job of telling the middle part
horrible job of telling the middle part
horrible job of telling the middle part of their story and I believe that that’s
of their story and I believe that that’s
of their story and I believe that that’s why we don’t trust them you see most
why we don’t trust them you see most
why we don’t trust them you see most brands aren’t willing to be vulnerable
brands aren’t willing to be vulnerable
brands aren’t willing to be vulnerable with us and tell us about conflict and
with us and tell us about conflict and
with us and tell us about conflict and that’s where we live in the bulk of a
that’s where we live in the bulk of a
that’s where we live in the bulk of a story
story
story you see most marketers above all don’t
you see most marketers above all don’t
you see most marketers above all don’t want to talk about conflict but I
want to talk about conflict but I
want to talk about conflict but I recently visited a restaurant in
recently visited a restaurant in
recently visited a restaurant in Pittsburgh that does just that at the
Pittsburgh that does just that at the
Pittsburgh that does just that at the conflict kitchen they serve conflict and
conflict kitchen they serve conflict and
conflict kitchen they serve conflict and it’s elevated them to a top yelp
it’s elevated them to a top yelp
it’s elevated them to a top yelp reviewed restaurant you see they only
reviewed restaurant you see they only
reviewed restaurant you see they only serve food from countries the u.s. is in
serve food from countries the u.s. is in
serve food from countries the u.s. is in conflict with but that they don’t stop
conflict with but that they don’t stop
conflict with but that they don’t stop there you see they also invite people
there you see they also invite people
there you see they also invite people with connections to those countries to
with connections to those countries to
with connections to those countries to share their stories with patrons you see
share their stories with patrons you see
share their stories with patrons you see is the conflict that has brought them
is the conflict that has brought them
is the conflict that has brought them emotion substance and even customers but
emotion substance and even customers but
emotion substance and even customers but most brands run from these examples in
most brands run from these examples in
most brands run from these examples in their story but in 2002 when mini cooper
their story but in 2002 when mini cooper
their story but in 2002 when mini cooper decided to bring their cars to the
decided to bring their cars to the
decided to bring their cars to the United States people said just one thing
United States people said just one thing
United States people said just one thing about their brand they said those cars
about their brand they said those cars
about their brand they said those cars will never sell here they’re far too
will never sell here they’re far too
will never sell here they’re far too small but rather than run from the
small but rather than run from the
small but rather than run from the action in their story and dodge this
action in their story and dodge this
action in their story and dodge this disadvantage Mini Cooper ran an ad
disadvantage Mini Cooper ran an ad
disadvantage Mini Cooper ran an ad campaign saying it’s not small its mini
campaign saying it’s not small its mini
campaign saying it’s not small its mini see
see
see they broadcast to the market that it was
they broadcast to the market that it was
they broadcast to the market that it was smaller than small and they doubled down
smaller than small and they doubled down
smaller than small and they doubled down engaging in their whole story and they
engaging in their whole story and they
engaging in their whole story and they literally ran billboards with mini
literally ran billboards with mini
literally ran billboards with mini coopers on the top of Suburbans to
coopers on the top of Suburbans to
coopers on the top of Suburbans to emphasize their point you see we crave
emphasize their point you see we crave
emphasize their point you see we crave this kind of authenticity in brands so
this kind of authenticity in brands so
this kind of authenticity in brands so it should come as no surprise to us when
it should come as no surprise to us when
it should come as no surprise to us when a trusted brand of a hundred years gets
a trusted brand of a hundred years gets
a trusted brand of a hundred years gets beat up by a start-up that’s willing to
beat up by a start-up that’s willing to
beat up by a start-up that’s willing to be vulnerable with their story now it
be vulnerable with their story now it
be vulnerable with their story now it could be the world’s leader in sports or
could be the world’s leader in sports or
could be the world’s leader in sports or America’s most trusted car but bragging
America’s most trusted car but bragging
America’s most trusted car but bragging about historical success is not how we
about historical success is not how we
about historical success is not how we build trust in a brand but rather as we
build trust in a brand but rather as we
build trust in a brand but rather as we look to the future we look at how brands
look to the future we look at how brands
look to the future we look at how brands and products themselves create trust see
and products themselves create trust see
and products themselves create trust see today we can connect with a product
today we can connect with a product
today we can connect with a product before it’s ever been built if an
before it’s ever been built if an
before it’s ever been built if an innovator decides to use crowdfunding
innovator decides to use crowdfunding
innovator decides to use crowdfunding they can upload a video submit a
they can upload a video submit a
they can upload a video submit a description and get us to go as far as
description and get us to go as far as
description and get us to go as far as to even invest in that product before
to even invest in that product before
to even invest in that product before it’s been built but innovation is far
it’s been built but innovation is far
it’s been built but innovation is far more than just this kind of explanation
more than just this kind of explanation
more than just this kind of explanation you see I grew up going to the hardware
you see I grew up going to the hardware
you see I grew up going to the hardware store with my father and when we would
store with my father and when we would
store with my father and when we would go to the store he would take great care
go to the store he would take great care
go to the store he would take great care to look for a product that he said was
to look for a product that he said was
to look for a product that he said was built to last and I grew up thinking
built to last and I grew up thinking
built to last and I grew up thinking that a product and it’s very core
that a product and it’s very core
that a product and it’s very core function should be to earn this kind of
function should be to earn this kind of
function should be to earn this kind of a reputation of being built to last that
a reputation of being built to last that
a reputation of being built to last that is that it always performs like it did
is that it always performs like it did
is that it always performs like it did the day it was created but being built
the day it was created but being built
the day it was created but being built to last
to last
to last isn’t what builds trust in products
isn’t what builds trust in products
isn’t what builds trust in products today we don’t buy products for what
today we don’t buy products for what
today we don’t buy products for what they always have been we buy innovations
they always have been we buy innovations
they always have been we buy innovations for what they will be and we wait in
for what they will be and we wait in
for what they will be and we wait in line for the latest Apple iPhone because
line for the latest Apple iPhone because
line for the latest Apple iPhone because of what it will be and we trust
of what it will be and we trust
of what it will be and we trust companies like Apple because we know
companies like Apple because we know
companies like Apple because we know that within a month they’ll release an
that within a month they’ll release an
that within a month they’ll release an update making that product better than
update making that product better than
update making that product better than in the day it launched and technology
in the day it launched and technology
in the day it launched and technology companies have conditioned us with
companies have conditioned us with
companies have conditioned us with pay-as-you-go models these monthly fees
pay-as-you-go models these monthly fees
pay-as-you-go models these monthly fees in direct relationship to their updates
in direct relationship to their updates
in direct relationship to their updates and every time one of us signs up for
and every time one of us signs up for
and every time one of us signs up for one of these subscriptions we’re asking
one of these subscriptions we’re asking
one of these subscriptions we’re asking a technology company to promise to
a technology company to promise to
a technology company to promise to continue to innovate and when I asked my
continue to innovate and when I asked my
continue to innovate and when I asked my Amazon Alexa whether I’m asking her for
Amazon Alexa whether I’m asking her for
Amazon Alexa whether I’m asking her for the weather or I’m asking her to turn on
the weather or I’m asking her to turn on
the weather or I’m asking her to turn on the lights if she wants to gain more
the lights if she wants to gain more
the lights if she wants to gain more trust she can do that by learning a new
trust she can do that by learning a new
trust she can do that by learning a new skill you see
skill you see
skill you see technology companies and most companies
technology companies and most companies
technology companies and most companies stop and ask when will this product be
stop and ask when will this product be
stop and ask when will this product be done but truly innovative companies
done but truly innovative companies
done but truly innovative companies never stop asking their customers for
never stop asking their customers for
never stop asking their customers for feedback knowing that they could be
feedback knowing that they could be
feedback knowing that they could be better tomorrow
better tomorrow
better tomorrow because innovative companies realize
because innovative companies realize
because innovative companies realize that if they stop this promise of
that if they stop this promise of
that if they stop this promise of innovation is broken an innovative
innovation is broken an innovative
innovation is broken an innovative companies realize that they depend on a
companies realize that they depend on a
companies realize that they depend on a social proof that proof being that we
social proof that proof being that we
social proof that proof being that we don’t buy products for products
don’t buy products for products
don’t buy products for products themselves
themselves
themselves you see we buy into a community of
you see we buy into a community of
you see we buy into a community of customers that invest in that product
customers that invest in that product
customers that invest in that product and this community of customers are the
and this community of customers are the
and this community of customers are the same community that builds recipes for
same community that builds recipes for
same community that builds recipes for my patio grill they assemble playlists
my patio grill they assemble playlists
my patio grill they assemble playlists for me on Spotify and they even tell me
for me on Spotify and they even tell me
for me on Spotify and they even tell me which Airbnb I should stay at you see
which Airbnb I should stay at you see
which Airbnb I should stay at you see Trust has always been the hardest and
Trust has always been the hardest and
Trust has always been the hardest and most important thing in business and we
most important thing in business and we
most important thing in business and we don’t need companies creating the latest
don’t need companies creating the latest
don’t need companies creating the latest sales gimmick we need companies being
sales gimmick we need companies being
sales gimmick we need companies being vulnerable with their story willing to
vulnerable with their story willing to
vulnerable with their story willing to pursue constant innovation it’s time we
pursue constant innovation it’s time we
pursue constant innovation it’s time we built more companies that our loved ones
built more companies that our loved ones
built more companies that our loved ones that embrace a currency of trust
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