I had put this topic down a long time time back. I had wanted to write about this subject, but it is probably better that I write about it now.
It is better that I write about it now because of what has happened with a small company called Healbe. Healbe is a small startup that decided to crowd fund a device that they were developing called GoBe. The device what supposed to be able to calculate your calories, hydration, stress, and many more things. You can find the campaign that they had put up on Indiegogo here.
Everything was going good, they were on the way to a Million dollar funding campaign, when trouble began to brew. First they were not able to trace the business or the business people. Then many of the experts began to question the claims that the company was making. Some of them said it was “bullshit”. And today, people have started asking for their money back, because they no longer trust the company.
The money made its way in because of trust and is now beginning to make its way out because of distrust!
For any business small or big, “TRUST” plays a massive role in how the business is perceived and how well it is able to do. A consumer or client puts money on the table because they are willing to trust that the product or service that a person is selling would perform as promised.
If that trust is lost, there is no way that a business is going to be able to survive.