I have been reading the book Give and Take by Dr. Adam Grant of the Wharton School of Business. Would like to share some of the key take aways that can create value for your client and partner relationships.
There are 3 styles or preferences for reciprocity or desired mix of taking and giving:
- Takers - They like to take more than they give. They tilt reciprocity in their own favor.
- Givers - They tilt reciprocity in the other direction, preferring to give more than they get.
In the workplace, give and take becomes more complicated. Many of adopt a third style; we become Matchers, striving to preserve an equal balance of giving and getting. Matchers govern their relationships by even exchanges of favors.
Based upon hard research, Givers achieve the worst results. They help others, but their success suffers as a result.
A Relationship Capital (RC) Interaction is based on the time-tested principle of accountability which rewards a kept-commitment! Many people in the next 10 years will seek new sustainable ways to grow income and will turn away from stock investing. Earning tangible measures of Relationship Capital (RC) by capturing RC through online social interactions will validate your reputation.
What Tasks, Concepts and Practices Earns You Relationship Capital (RC)?
- Active Listening
- Genuine Interest
- Telling Stories
- Swap Stories
- Make and keep Commitments
- Be Consistent in what we think, say, and do
- Solicit Feedback about You
- “Matchmaking” People
- Volunteer to Mentor
- Volunteering Your Time
- Providing free Coaching
- Showing up to Meetings on-time
- Following-Up Doing What You Say
- Saying “I do not know”
- Asking “Please”
- Ask another “What Their Story Is?”
- Saying “Thank You”
- Saying “I was thinking of you”
- Asking “How may I be of service to you?”
- Donating $$ to a Charity or worthy cause
- Sending Information that would be of interest to that person.
- Giving a person an authentic recommendation
- Giving a person a “Qualified Referral”
Relationship Capital (RC) is an accounting of the interactions between “entities”, including people, businesses and products. Interactions include Commitments (actions) and Perceptions (thoughts and feelings).
Entities earn RC by keeping Commitments and obtaining positive Perceptions. They receive a Relationship Capital Point (RCP) for each fulfilled Commitment, and an RCP, or a fraction thereof, for each positive Perception obtained. RCPs are deposited in an RC Account under the strict control of its owner entity.
The objectives of RC are to provide a common vocabulary for relationship interactions and to account for the interactions as they occur. Accordingly, RC uses a “standard-in-the-cloud” platform to enable entities to engage in interactions and capture RCPs in near real time. The platform is provided by RNIA, an independent body.
The important principle here is that Relationship Capital (RC) is earned and not given to you!
Now, Givers, Takers, and Matchers can earn and account for their Relationship Capital (RC) and standout from the crowd in this new technology-enabled and hyper-connected world of social business.