The value of reciprocity in business is the drive to give in return for receiving.
Reciprocity is embedded in the old adage “your network is your networth” it never gets old, tired or overused! You so need to build your reciprocity muscle to grow your business and the side kick will be a happier and more abundant life.
It’s a major part of how we cultivate our personal relationships and if done genuinely reciprocity will enhance your business network groups and empower those relationships too. Take a look at your relationships through the reciprocity lens it will answer lots of queries in your head as it will flag up where relationships are not quite right, where perhaps you are in the wrong group or network.
To be able to do someone a favour probably means you are in the right network/place as a good business network is healthy for your business and those businesses in your network don’t forget the BNI mantra of “givers gain” is all based on reciprocity.
How can you build the reciprocity muscle:
- Give without expectation – help people achieve their goals. There are loads of ways to help and support people, nurture the long term relationship.
- Listen – give your ear to others its part of being a great networker and just a person worth knowing.
- Give quality valuable content to help them improve right now. Use all your channels, phone, email, social media, blogs website, lead magnets, to give valuable content to your market so you build your authority, expertise and help them at the same time.
- Actively look where you can refer and equally actively reward Networking groups are built on this and this is why so many are so poor and lack any real energy they don’t have genuine reciprocity in the mix. If you and the people in your group are not giving a moments thought or actively listening for opportunities for each other how on earth will you get any “referrals” between you. My best networking and referrals are not done locally, in fact they are done with what others would probably look one as my competitors! Get open minded and start looking at the world with a much wider lense.
- “Give them the ketchup”. This is about giving great value and delivering the best customer service. The cost of winning a customer might be as little as including something that actually doesn’t cost you anything but included in your offer would really make your “package” really Make sure your customer offering is the full package to be great value and keep you the No 1 choice so you are recommended and referred to to others.
- Use Social media – it was built for reciprocity. Give testimonial and public praise, share posts, like, comment, retweet, reply to comments they all show appreciation and it is so easy to do.
Why is reciprocity a key ingredient in your business?
In the end success comes to those who are surrounded by people who want their success to continue. Without reciprocity there is no quality to your business relationships. You have to care and trust the people you work with in the relationship to cultivate that environment.