Sooey comeback9/19/2023 ![]() When Goldcorp drilled the sites the winner had predicted from their modeling, Goldcorp hit on all four. The winner was a company from West Perth, Australia. Over 1400 geologists from 50 countries participated in the challenge. He turned over all their super-secret data on the Red Lake mine online. CEO Rod McEwen was attending a seminar on Linux, an open-source operating system and thought, "Why not create open-source mining?" He created the Goldcorp Challenge-anyone who could tell Goldcorp where to mine would get prizes up to $100,000. It was not producing the gold expected plus the gold market was depressed. Goldcorp, a Canadian company that finds, extracts, and processes gold, had a mine called Red Lake in Ontario. "Real trust," wrote Seth Godin, "doesn't always come from divulging, from providing more transparency, but from the actions that people take (or that we think they take) before our eyes." Trust-building is homegrown (from the heart) and handmade (actions speak louder than words). We trust the food we eat in a restaurant without a visit to their kitchen. For example, we trust medical personnel performing our surgery but never check their resumes. The anatomy of trust reveals its sometimes irrational, emotional, and ever-changing nature. Help your customers grow and they will help you grow your bottom line. ![]() He even suggested a narrated YouTube video that showed my type of surgery being performed-and he was the surgeon in the video. Before recent eye surgery, my physician loaded me up with articles from medical journals about my malady. His detailed explanations always leave me smarter. ![]() At the end of many conversations with my financial advisor, Tom Berger, at Merrill Lynch, he leaves me with a thought-provoking question to learn more about before our following discussion. "If you want something to grow, pour champagne on it," said Carol Bernick, former chair of skin care manufacturer, Alberto-Culver. Tom Berger Merrill Lynch CBC Group, Charlotte, NC ![]()
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