The Essential Qualities of Relational Capital
What is Relational Capital?
Relational Capital is the distinctive value created by people in a business relationship.
Relational Capital results from the convergence of the essential qualities of credibility, integrity and authenticity.
Relational Ladder®
Acquaintance – Most business relationships begin in this category and require relational capital investment to advance beyond a transactional relationship.
Professional Peer – Category where your business contact/colleague values you professionally and views you as a peer despite your role/level in the business relationship.
Respected Advisor – Highest category in the ladder where your advice is sought on issues and decisions outside of the original business reason/issue that brought you together.
Relational Ladder® Strategies
| 1. Establishing Common Ground: Launch the Relationship | |
|---|---|
| • Create person-to-person connections | • Understand your client’s business issues |
| • Ask about your client’s goals and aspirations | • Resist the urge to offer answers and solutions |
| 2. Displaying Integrity and Trust: Secure the Relationship | |
|---|---|
| • Be honest about issues | • Listen, take notes, and document decisions |
| • Share facts and not opinions | • Always follow up on all commitments |
| 3. Using Time Purposefully: Invest in the Relationship | |
|---|---|
| • Value your client’s time | • Value your own time |
| • Always prepare for meetings and interactions | • Be in the moment |
| 4. Offering Help: Share Relational Equity | |
|---|---|
| • Focus on being yourself | • Offer ideas aligned with your client’s goals, passions, and struggles |
| • Understand your client’s goals, passions, and struggles | • Treat each challenge as unique |
| 5. Asking for Help: Realize Significant Returns on Your Relationship Investment | |
|---|---|
| • Focus on being yourself | • Be able to say, “I don’t know!” and ask for help |
| • Seek to influence rather than direct decisions | • Seek help with your own goals, passions, and struggles |