Despite the enormous research and investment that go into creating a brand, ventures tend to fail more often than they succeed. Dan Sullivan and Jeffrey Madoff continue their discussion about what makes for a great brand, and share the ways in which they fail by not being careful. They reveal how brands can gain a permanent monopoly and explain how the best ones do it. With social media, trust can be earned almost immediately and be beneficial, but one slip can be very damaging to your brand. In this episode, learn why you can't think about your reputation in the same way as your brand, as reputation is ultimately the product of other people's opinions of you.