An age old banking fundamental is that you have to make a deposit first into your account prior to withdrawing funds. Sure, there are ways around this (overdraft protection, debt, service fees, etc.) but the best practice is to make the deposit first!
How does this principle work with relationships? Here are some examples of how relationship currency works and the relevant deposits you can make:
- You are talking to a colleague who was recently transferred to your division. He notices something from your college on the wall and mentions that his son is interested in applying to that same school. As an alumnus, is there something you can do to assist your colleague? Can you make a call to someone in admissions or provide a campus tour? By the way, no one has perfected the campus tour experience quite like Nido Qubein, president of High Point University in High Point, North Carolina. His highly student-centric approach provides every student an opportunity for an extraordinary education in a fun environment with caring people.
- You are having coffee with a client when she mentions how busy she has been working on a charity silent auction and how she desperately needs unique donations. Offer to call a neighbor who is a strong sponsor of Cirque du Soleil and entice her to become similarly passionate in the campaign.
- You read in the paper that an old friend has been promoted to a new vice president position. Call to congratulate him, and offer to introduce him to a senior executive at your company to explore possible synergies.
It is critical to remember that what people do for a living is not who they are. If you don’t give people a chance to get to know you, how do you expect them to trust you? Someone protested recently, ‘‘But trust comes with time and experience in dealing with that person. Aren’t you really looking for faith?’’ Well said! People want to believe that you are credible today and believe in you tomorrow as you begin to deliver some of the value you promised yesterday!
Make your deposits in other people first will only result in greater returns for you in the future.
How do you build, nurture, and capitalize on your relationships? Take our Free Relationship Signature Index assessment which will identify you in one of four quadrants with a high level profile and a set of recommendations.