Relationship Capital – measurable Asset?
What is Relationship Capital?
It is the value placed on the relationships you form with others and with yourself. Like a bank balance, The value of these is determined by the amount of deposits you make.
Why is this the new buzz trend in business? Relationship Capital is the way forward, to build any business, as most new business is found by speaking and connecting to others, at any event, wherever you are! Business has gone social.
Why it is the way forward – To quote the words of JTFoxx, the Worlds number 1 Wealth Coach and Millionaire, “your net worth is determined by your network”.
Your network is the place where you will find the most support, investment opportunities and loyal consumers.
It is also the most widely abused and unused form of communication. Taking people for granted, ignoring their communication, the requests for help and support, both the spoken and unspoken knowledge and sense of knowing we each have. Pretending they don’t exist in your world, when they do. Ignoring your own inner voice who knows what works for you.
It is the unknown territory to anyone who does not know what the ingredients are to open the Relationship Capital account. This account can be a nightmare to navigate if you don’t have all the rules, T’s&C’s (Terms and conditions)firmly in place, before you decided to make deposits. Then in turn, to invite others to do the same.
With Networking events now being the official way to meet like-minded professionals, it is even more apparent that your rules of engagement be clearly defined with correct and necessary actions aligned to not only your business, but to theirs too. And sometimes, the value add is invisible.
Networking event are always so noisy! In so many ways it feels so false and staged to be there. The reason people are there is clear – to see if they meet the next big deal, get their next big break, or at a very minimum, find a way to get introductions for their business to grow. The environment is usually all about “what’s in it for me”, vs really getting to know the other person. Yes, you read correctly, listening. The listening to speak version of listening, vs actual listening! Wafting is essential to know how to do too. Its where you learn how to eavesdrop of titbits of conversation in order to find the people you really want to connect with. The purpose is also awaiting the opportunity to add to the conversation, contribute or value add. That is the first key ingredient to a healthy fat juicy Relationship Capital account – Listening to listen. REALLY LISTEN!
So what is RC really and how to build the best asset you have!
Have you ever observed when two people are talking together at an event and it is clear they have just met? You can learn so much from the master social butterflies! They flit from one group to another, relationship capital being primarily the surface pollen as they touch down. They quickly determine if the pollen is a match or not. The Relationship Capital deposit is in smaller denomination coins! This is essential in the process of building your RC bank! It all adds up. Being able to discern is part of the process of sifting through which currencies you are going to accept. Whatever you accept, is what you will need to know how to give too. Discernment is the second key ingredient. Knowing when the bank needs to opens its doors, or when is better suited to go on lock down!
Then there are those who have mastered the art of connection at first instant! They are to be admired! The deposits are instant and priceless. They are MASTERS in connecting communication and usually never discuss business in detail at first meetings. They know how to connect with intent of adding value and will very quickly determine if the Relationship Capital bank will have an opportunity to receive at some point in the future. They are also skilled in honesty with Self. The third essential ingredient, HONESTY!
The fourth essential ingredient is Consistency. When you consistently connect with people, they get to know you. People do business with people they know, like and trust. Building Trust is the reason to choose to invest in building Relationship Capital, if nothing else. We live in world where we are learning to trust those around us, to know that sometimes it is ok to give of self, and sometimes it is ok to receive.
The clear balance between the giving and receiving is the indicator of success in building Relationship Capital. To choose between a 30 day current RC account, or the longer investment type account, or the lifetime kind!
The key is to find the right balance between the Giving to Get and Giving to Give. Choosing which relationship to build and which to honour by walking away.
Building Relationship Capital means not giving up at any cost, where you believe in the other person, people and how you can add value. and you take ACTION to show it!
Relationship Capital starts with your relationship with Self. If you know what you want, listen to your inner voice, like and trust yourself to be honest at all times, then your relationship bank is full enough to be able to withdraw and deposit to others with all of you. Its called Commitment! Commitment to building the empire of relationships!
Shall we unpack this a bit more? InBox, comment, lets do this #together!
Till next time,