Risk & Business Magazine General Insurance Services Magazine - Page 10

RECIPROCITY Business Risk Weekly Wisdoms W & hether you are in business as an entrepreneur or a business owner, there’s always risk, there’s always worry, there’s always competition, there’s always disruptive technology, there are always shifts in the mind-set of the consumer. Are you here today, gone tomorrow? Are you relevant forever no matter what your product or service? But I know one rule — if rule is the right word — of business success and prosperity, of creating sustainable wealth, that stands the test of time. That one rule is reciprocity. And I think most companies miss the mark when aiming for reciprocity, preventing them from achieving all that is to be achieved with this powerful rule. Reciprocity, in its simplest form, is doing an act or a service, like getting someone a gift when it’s unexpected, that makes the person feel obligated to do something for you to make things even. The simplest form of reciprocity is complimenting someone: “Oh my God, I love your shoes.” Most people immediately feel like they must compliment 10