How's your relational equity portfolio? Relational equity is crucial in today's culture. Whether in business, in the Church, in non-profits, or as an entrepreneur, your level of influence many times depends on how much relational capital you have.
A few thoughts on building relational equity:
1. Relational equity is the currency (capital) you have with those around you in your sphere of influence that allow you to make things happen through and with other people. It's all about others, and not about yourself.
2. Your relational equity is directly connected to how much "goodwill" and relational assets you've built up with others.
3. Relational equity and assets are not traded like stocks or bonds or financial assets, with the only goal of being how much you can get back in return for what you've invested. Relational equity is best built by investing in others with nothing expected in return. Period.
4. The more influence you gain, the more relational equity you will need to get things done. You must make sure you are gaining relational equity as fast or faster than you are gaining influence and the opportunity to impact.
5. The higher you go in any organization, the more relational equity you need with your peers, customers, vendors, partners, board members, etc.
6. The more intense or complicated a business deal or transaction, the more relational equity is needed to make sure it actually works and makes it to the finish line.