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TIP655: Hustle, Trust, and Cash Flow: Nike’s Genesis w/ Kyle Grieve
We Study Billionaires - The Investor’s Podcast Network
Trust is a Double-Edged Sword
Building a successful business hinges on trust, especially when working with suppliers and partners. Warren Buffett’s concept of the 'margin of trust' underscores the importance of maintaining deep, reliable relationships within a business network. Phil, an emerging entrepreneur, experienced the strain of reliance on a singular supplier, Onitsuka, which tested their trust when the supplier sought alternative distributors. This breach highlighted the precarious nature of trust in business relationships. Additionally, Phil’s experience with a reluctant banker emphasized the tension between traditional banking risk aversion and the mindset of an entrepreneur who views growth potential as paramount. The contrast illustrates that while banks focus on cash balance stability, entrepreneurs often prioritize sales growth and profitability, believing that a combination leads to lasting success.
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