>> busess news from the capital region. this is "washington business report" with abc national correspondndent rebecca cooper. captiod by the national captioning institute --www.ncicap.org-- >> welcomeo a special summer edition of "washington business report." we take tw of r most popular terviews fm the past few months. first, the cofounder of twitter on why he embraces his failurere as much as hisreakthroughs. the ceo of peet's coffee & tea shares lessons learned fro fighting giants in the field. plplus, favors. how many you should be doingng d when it is ok to just say no. would love being a able to sit down with big names in business and speaeak to t them exclusivey about what they have learned in

eir quest fofor suess. this stone certainly knows --biz stone, the cofounder of twitter, cecertainly knowows something at success. i sat down with him to talk and s new book thoma, app, what the iconic little bird taught him about how to succeed in business. to stone, welcome "washingtoton business report." your book is out. it is a great read. you say my success is based on a mountain of failures. what are you trying to impart to other people? >> the overall message of the book is we are headed into a new era where failure is valued, vulnerability is valued, humanity is valued. i like to describe myself as an internet guy that believes in the triumph of humanity with a little help from technology.

it is not alabout technology. >> you talk about how much you believe in twitter. from the beginning, you did not quite see the full potential. but quickly you realized it had the power to start revolutions and keep them going. >> at first, we thought it was fun. that was great. quickly i saw it as important. then it became a mission. once it becomes a mission, you are driven. >> you all worked on it. twitter launches. it is growing with fits and starts. there were many growing pains. does that happen today? are they expecting too much? >> the startup landscape has changed even since starting twitter. startups can use a club based imputing -- cloud-based imputing -- computing. there are young ceo's that have

never look at a server. it is a different landscape for young entrepreneurs. i hink there is a lot of value in vuvulnerability and humanizing your company. i think you n still succeed despite failure as long as yo frame it right and tell people we are humans, we are working on this and trying our best. >> when you started realizing the power of twitter, you became surprised celebrities and politicians s were using twitter as a way to cut out the middleman and talk directly to people. >> it is funny. i thought celebrities would nevever use twitter, that politicians would never use twitter because their lives were special. you only had access to them in movies and stuff like this. i thought that was the whole point of being a celebrity. was totally wrong.

they wanted to connect with their fans. wi politicians, it makes perfect sense. they are a representive of the people. of course, they should be connecting with h people. >> you have to read the book to get the whole twitter expense. now you're off on a new adventure. tell people what it is. realizedounder and i the last 15 years, none had completely reimagined the way we ask queries and get awers. now it is a computer for the best completely different mobile landscape. we are all connected. the way we reimagine it is we are alconnected. if you have a question, there is socialperson through networks and mobile phone that has a great answer for you with real h human experience. we can use photos, maps, people

in the social network to get answers computers cannot retrieve. getting to know you through the book, you are so honest and self-deprecating about your failures as well as successes, one thing that occurred to me is you seem to o have a lot of qualities that are more often ascribed to women than to men. you like being nice. you made a cscious effort to learn to be more nice and empathetic. you love communicating, having staff meetings, letting people know wt isis going on. you don't like when the nice guy and the good guy gets fired. is the ultimate women asking for directions rather than the guy behind the wheel who refuses to ask. >> i grew up in a household d of women. i was raised by my mom with my three sisters. i never leave a toilet seat up .

i have never done that. it is funny you say that. i ve often thought that, too. i have and empathetic view of the universe in an aspirational view of the world. >> can that work in corpate americica? of course. that is the future. young consumers are atattractedo a more meaningful, just companies and causes. this is the future. i have a personal philosophy that afuture is philanthropy. >> h here is to the future. comingp, competing in the owded d world. we have anher one on one. and d why favors can be key to business success. at is next on "washington business report."

>> welcome back. our spotlight is sponsored by capitatal one. this week, we will be lking about capital that can be almost as important to any small business as start up.p. mary abbajay is here and she calls it the favor bank. mary abbajay, welcome. you say it is very important to have a favor b bank and you consnstantly need to be replenishing it so when it is time to draw down on the capital, you are ready. >> the most important thing is you have to gigive to get. creaeating your own favor bankns about doing things for other people. you have to build your social capital. you have to have more deposits and widrawals. you have to have some favors

before you start drawing down. >> you cannot go into it with the mindset of doing it to withdraw favors later.r. you have to do it because you are driven by that. >> youou have to give them authentically and because you want to help other peopl >>e realisti specific, and consider it. don't ask for too much and make it easy for the ver give. >> once you have capital in your bank and you're going to withdraw asking favors, save up for what you're asking for. if i call you up and say i am looking for a new job and i need your help, tt is not good. i need to say i am thinking about a job in brdcasting and need 15 minutes of your time on the phone e or coffee. i have t three questions for yo. that is specific. >> with linkedin, people can contact me and say cou you introduce me. i lo doi something that specific. three, you can't go to

the same wells too manyy times. a lot t of people e guilty of this. >> some of us have cool friends. i know you. i cannot ask you to do a favor for me for another person too many times. asking me than once e or twice a ar to meet someone is going to burn our bridge. be careful you are not going back to thsame people to fulfill your favors. >> some peoples are gigivers and like to o be asked to do things and get nourishment t of doing favors for others. others not so much. >> we have a lotot to do. if someone wanted to meet you, i might e-mail and say is it ok if i make an introduction to you and let you say yes or no. >> i like to say yes but sometimes i ha to be nudged. you say number four, show gratitude and follow-up. >> make surere you say thank you right away. send a not i i don't think in e-mail is enough. you should follow up wh that

favor is completeted. if you introduce me to someone, i would say thk you right away. once i met with that person, i would send you anonother n note so-and-so, itith wa fanantastic, and i want to thanyou again. >> i havbecome addicted to my amazon prime membership. you did me big favor. you are the president of grerear washington. i have just been accepted into the new class thanks in part you recommendation. i could send a gift. >> things like that mean the world for me. i will do anything for you. thinabout people ththat don't say thank you. i have done favors for people who don't say thk you, they are dead to meme. >> you must r return favors, number five, very important. >> whether it was three years ago or five years ago, you had better return the favor. >> i have friends o are takers and not givers. we l know who

they are. theytop gettinfavors. you have to return the favor. >> number six, sasay no with grace. you say itit is ok to say no. >> i get so many favor requests. i can't do them all. say no gracefully. try and tell them why you cannot do it. if you can point them to another resource who could help, that is a great way to say no. you cannot b becom so overburdened with favors that you lose sightht of your ownwn prioiorities. >> let's talk about t this conct of a favor bank. business or startup may not have a lot of capital-capital, but there are other ways you can get services in kind. favors are one way of developing that. are there examples? >> with a smalbusiness, you don't have a bigig marketing ar. you can refer other people. that is a favorite.

i have a client looking for something not quite in my wheeeelhouse. the favor to her and another person is i am connecting them. is a way to ild my brand and help other small businses build theirs. > mary abbajay, you always teach us so much.h. thanks for joining u coming up, the region is responding well to therand thatas a cult following in california. we talked to t the ceo on how a small coffee shop aies giants like starbucksks.

>> welcome back.

you may have noticed. peet's coffee & t tea is a widey successful company fm california that has a cult following. ashey grow their b brand ceo da burwick wenent one-on-one with us to talk coffee beans and growing pains on the path to bigger success. dave burwick, welcome to "washington business rort." you are hitting the washington market big. 's, explainew to peet why it has such a cult following in california. >> i think because we make great coffee. we do it the right way. peet came- alfred over to berkeley in 1966 and started roasting them the way they do inin europe, deeper and

darker. we stayed true to that approach and treated the beans especially for almost 50 years. it has become a mainstay in the bay area. >> what are your plans for growth? >> we are in hypergrowth mode. for 10 or 11 years, it was a public company that was competing with giants. the starbucks of the world. our goal was to grow carefully and grow through the direct store delivery model we have. we grew through grocery stores. we did not grow much through our retail coffee shop business. we went private about 14 months ago. it has unleashed this renaissance where we can grow and do the things we want to do to be more successful long-term. we are growing more rapidly. we are growing in grocery stores. we are adding new products in grocery stores. we are also taking retail coffee

shops. where we had 200 the year ago, we will hopefully have 400 or 500 in the next few years. >> you had a long career at pepsico, pepsi, and weight watchers.. how is it different to be at a those brands are already global and well-known and fighting to hold onto their share and grow. now you are at a company poised for growth. tell me the different ways you had to approach this job. >> it is exciting to be part of a consumer goods company growing double digits. that does not happen very often these days. pepsico is all about brands. it is about building mega brands that are global. it is about a deep appreciation of what it takes to build a big rant. --big brand. weight watchers is about the mission of transforming your life and health.

that is what attracted me to weight watchers, the mission. peet's has the combination of both. it is a great brand we have an opportunity to bring to the rest of the country but also a mission. it is about the pursuit of better coffee. peet decided american coffee was not good. he startedhis specialty coffee revolution. he was the grandfather of specialty coffee. >> starbucks used to buy their beans from peet's. >> they befriended him and would go to his shop. he taught them how to roast and show them what great coffee was about. >> it seems it is once again pepsi versus coke, peet's versus starbucks. do you see them as a competitor? >> i come from a world where competition is fantastic because everybody plays on a higher level. you have to be more aggressive

and creatitive. you have to be thinking and be willing to try something different and be agile. >> how do you take on starbucks and try to win them over to your brand? >> the key to our success is staying true to t original tenets foror peet's. we source the best beans in the world. we pay a lot of money for those. who want the best. we have long-standing relationships with the best growers in the world. we hand roast the beans. it is not automated. it is not pushing buttons. that are 12 human beings roast our beans in alameda, california, outside of oakland. they do it to the five senses. they hand do it. sight, sound, smell, touch, everything. >> peet's went public and had a successful ipo. a couple of years ago, went back to private as you were coming on board. what does that offer you in

terms of opportunity? >> i have worked for public compananies before. public companies are great. private is fantastic. when you have the right owners looking at the long-term health of the business, we could do one thing really well. we delivered beans to grocery stores across the country. that was it. we could not do much with our e-commerce business becaususe te street man's a return -- the street demands a return. of christ returns will be the grocery business -- highest returns wille the grocery business. differentted across annels, we would not get the best growth. we got 60% growth every year. the market liked it. he was an authentic dutchman. he was kind of like the soup nazi. take your beans and get out of your.

it was about that. he -- it was about the purity of the beans. he was adamant about that. he was a bit iconoclastic. we like to hire people like that. >> how did you grow into the role of ceo? what did you learn that served you well in the job of chief executive? >> it seems cliché, but building a great team is what you need to do. you can take credit for the team. >> if you find somne is not working on the team, do you find it better to cut them out quickly or try and work with them and grow them? what do you do when the team is not working? >> i tended to be more the person who takes what you have and find the good, and build that up. if there is a point where you cannot do that, you have to go a different direction. i believe people and peet's are

there for a reason. they do have talent. is my job to bring that talent out and enable them to flourish. >> thank you for joining us on "washington business reporort." peet's.ks to we will be right back.

thanks for joinining us for this special summertime addition of "washington business report." we hope yoare enjoying your weekend. t usnow what you thought of today's show. you can like us on facebook. follow us on twitter. you can always watch past interviews on our wsite wjla.c om. let us know your favorite ceo's and business leaders. send us a tweet. week, w we will havone the most talked about ceo'in corporate history and an up-and-coming ceo named one of the most admired in th n.shingt region. that is all next weekn "washington business report." i rebecca coer. thanks for joining us.

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>> this week on "government matters" -- >> among the casualties was an american general officer who was killed. >> another insider attack in afghanistan. this time, t victim was a two star u.s. general. >> you cann have the books and the shelves in place yet. >> the cia's amazon bill cloud takes off. we talk about the impact. >> i propose closing this unpatriotic tax loophole. >> how corporate inversion affect the contracting industry. now.rnment matters" starts ♪ >> to our viewers around the world, here in the