Saturday, May 29, 2010

Relationship economics is a bankrupt idea

If you are busily calculating your relationship currency, capital and return-on-investment in order to maximize your professional net worth, you’re busily putting your energy in the wrong place. Great client-advisor relationships are built on authentic commitment to client needs. The digital fount of all wisdom, Wikipedia, says, “Authenticity refers to the truthfulness of origins, attributions, commitments, sincerity, devotion, and intentions.” You can fake authenticity up to a point assuming that you’re somewhat of a P.T. Barnum-flavored cynic who believes that clients and prospects are gullible simpletons. But, is that the basis for a genuinely effective professional relationship?

Stop listening to charlatans who’s every claim to help you and your firm build genuine relationships is followed by a trademark symbol. Stop calculating the economic value of your current and potential relationships. Stop faking authenticity. Find ways to demonstrate what it is really like to work with you…but demonstrate that before you’re hired. Go back to building relationships by consistently delivering genuine value in a selfless advisory manner and enjoy the rewards of lifetime client loyalty and advocacy.

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