In a virtual world where the concept of trust is rare, some words need to be said about how successful companies operate – and that is on a matter of trust.
The real innovation that successful companies have done has never been about creating the prettiest app or the cheapest hardware. It’s always been about establishing a level of trust between users or between users and a company.
It’s not about what they did, it’s about how they did it.
Trust isn’t identical to loyalty. Loyalty can be changed on an imminent basis by external factors but trust can only be changed by one’s own actions.
Loyalty could be towards getting the cheapest item but there is always someone who can make it cheaper. But trust can’t be bought on an individual level nor on a business level.
Because for successful companies business is personal. It’s always about focusing on the customer while making money. Not about focusing on money while having customers.
When you start building monuments of yourself with not a single pane of straight glass, you have lost. Your focus has shifted from customers to money – or rather your ego.
Customers aren’t interested in a company’s internal politics or how high in the sky they can build a building. They are interested in quality products and someone they can continuously count on.
98 cents can’t buy you trust. $98 billion won’t either. Because cash is temporary – like a coupon – a one time deal. It might buy you a short term gain but not a long term one.
Cash cows may win little scuffles but they don’t win battles.
“To be trusted is a greater compliment than to be loved” – George MacDonald