TED Talks Daily 7 tools for building a business people trust | Marcos Aguiar
May 4, 2021
Marcos Aguiar, a digital trust advisor, shares insights on why we trust some companies over others. He breaks down the importance of trust in business ecosystems, using examples like Airbnb and Uber. Aguiar introduces seven essential tools for building trust, highlighting strategies like transparency, access control, and formal contracts. He emphasizes that cultivating trust is not just essential but can thrive even in challenging environments, showcasing how a strong foundation can lead to long-term success in the business world.
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HopSkipDrive’s Success
- HopSkipDrive, a ride service for kids, succeeded despite the inherent trust issues.
- They built trust in their system, not just individual drivers, allowing them to grow and secure funding.
Systemic Trust
- Customers trust HopSkipDrive's system, enabling them to use a service many find inherently untrustworthy.
- This 'systemic trust' is key to the company's success, not just individual driver trust.
Trust as a Competitive Advantage
- Trust is a key differentiator between successful and failed business ecosystems.
- Many failed ecosystems assumed trust would emerge spontaneously, while successful ones actively built it.