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.
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|