You Need TRUST More Than Anything | Jack Ma's Success

Rise and shine, it's espresso time! Good morning, Believe Nation, it's Evan. My one word is believe, and I believe in you. I believe you have an amazing gift inside you that I want to see explode out into the world. So grab your coffee and sip on today's message: build trust with your customers. Over to you, Jack Ma.

When we started the e-commerce, nobody believed that China would have e-commerce because people believe on the guanxi, face-to-face, and all kinds of network in traditional ways. There's no trust system in China.

He had to overcome centuries of tradition by showing Chinese buyers and sellers that they could trust Alibaba with their money in this new virtual world. He did it by guaranteeing the transactions and creating his own payment system, an escrow account where Alibaba holds the buyer's money until the goods are delivered.

Every day we finish more than 30 million transactions, and that means that there— you are buying things from somebody you have never seen. You are giving products to the person you have never met. And there are some guys you never know that he's gonna take your products to that place, to that person. I wanna tell the people that the trust is there.

'Cause it's all about the trust.

It's all about the trust.

So I think it's really important to understand what you stand for as a human being and bring that to your business. When you can find the one thing that makes you stand out, the one thing that you believe in, then it makes it so much easier for people to talk about you, for people to understand what you do, and for you to build a huge empire that has a huge impact impact on the world. So for Jack, it was trust. Everything is about trust. We need to build trust with our customers. Trust is super important to him. And so he ended up building Alipay just to handle this issue of trust. I am the guy that you trust.

Awesome.

If I look at TDS as an example, the one word is family. It's about coming and being a part of a new family. When people sign up and take dance classes, they want to learn how to salsa. Most people don't come trying to become the best salsa dancer in the world. And to be honest, if that's what you're looking for, you shouldn't be taking a group class anyway. You'll learn faster working one-on-one with an instructor instead of being in a group class with everybody. Our goal here is to have you have a connection with people, to have you have a blast, to have the class that you come to be the highlight of your week. That's the bar that we set. We're not as concerned about teaching you the most and making you the best dancer in the world. Go take a dance boot camp class, go take a private lesson with an instructor who will beat you and make you repeat it over and over and over and over again. We want you to have a blast. We want you to feel connected. We want you to be a part of the family. That's what we stand for. That's why we attract the people that we attract. And it's okay not to serve everybody. Not everybody likes that. People who want to be a salsa professional competition choreographer, you can go here. You can go over there. A group class at TDS is not going to be the best fit for you. But if you want to have fun, you want to have the best time of your life every week, you want to look forward to that Wednesday night class of yours, This is the place to be. And so it's clear what we stand for. It's clear what Jack Ma stands for. You need to be equally as clear in your business. What do you stand for? If people cannot understand what's different about your business, what you stand for, what your one word is, what you're all about, then you look like every other company. And it's hard to make a decision as to why I should go with you versus somebody else. And I think in general, entrepreneurs tend to be a little too corporate. We look up to these big corporations and we want to be like them, we want to look professional, and that's great. You don't want to look unprofessional, but you're missing the heart and soul. The reason why people work with entrepreneurs and small businesses is the heart, is your care, is your passion, is what makes you different and unique. Because if there's nothing that's different or unique about you, then they're going to just beat you down on price, and you never want to be the low-cost provider. So figure out what your one word is, figure out what you stand for. Match it to where that fits in your market. If Jack Ma is all about trust, here's how it applies to the business that he's running. He wants to be the trusted person in this industry. That's how he's gonna win. For people who care about trust, they're gonna go to him. For people who don't care about trust, people who just care about the lowest price, people who care about something totally different, they won't like Jack Ma. And that's okay because he doesn't want to work with everybody. He wants to work with the people who are going to be ideal customers to him. Him. So figure out what your one word is and how you can apply it to your business so you can start attracting ideal customers who will love working with you, who will buy more from you, who will spread the word to their friends, and so you can build your empire to go have an amazing impact on the world. So the question of the day today is, I want to know, what is the one thing that you stand for? Jack Ma is about trust, I'm about believe, TS is about family. What is it that you stand for? Leave it down in the comments below. I'm really curious to find out. Now, thank you guys for watching. I believe in you. I hope you continue to believe in yourself and whatever your one word is. Much love, and I'll see you again tomorrow morning for another shot of espresso. I wake up every morning, espresso keeps me going.

Once you develop a large customer base, and we reach about 100 million people every month with all our various businesses, our books, our magazines, our television. And once you develop that kind of close rapport, they have already a feeling that I'm providing them with things they need and want. So it's very important to engender trust with your customer. If you disappoint them, I mean, if you make something that falls apart, forget it. You don't get that customer back again. And all I want to do is grow my customer base. I want to be where that customer needs and wants me with good stuff.

The only thing you have is trust. What is the most important thing a child wants? A predictable environment from their mother. That's called trust. What's the only thing you want from a teenager? Trust. What's the only thing you want from a worker? Trust. Isn't that— doesn't a worker say, well, I want I trust that you can pay me. Trust is all the qualities of leadership. Isn't that— when you break someone's trust, isn't that— life's all about trust. There's only one word. And so I had no choice, as much as I'm paranoid, I had to trust people. I trusted people because I wasn't capable to do things myself.

We have this system where we translate very trustworthy people and give them enormous trust. And as they practice that trust, they get more confirmed in being trustworthy. And eventually we've got this seamless web of trust which is incredibly efficient and very useful. And by the way, this is not just my doctrine. This is a doctrine in economics that tries to explain why firms come into existence. And firms come into existence because a lot of people who trust one another operating within a firm are more efficient than they would be if they were a bunch of independent proprietors.

Let me give you the one word secret to happiness. One word. This is all you need to be happy. The most important word ever.

If you had to think of one word that's most important to you or that sums you up or that would be kind of like a little beacon.

Hey, Believe Nation, if you want to know what the most important one word is for Tony Robbins, Gary Vaynerchuk, Oprah Winfrey, will.i.am, and Howard Schultz, I have a very special secret video for you. Check the description for details.