Say it now: "Thank you." Turn to the person beside and you say it to them. "Thank you." [THANKFULNESS], [UNITY], [GENEROSITY]

The Right Investment in the Right Bank

Posted: 16 Jun 2009

 

What investment is this?

• It's inexpensive by most definitions.
• No taxpayer money is needed.
• No regulations need exist much less even be enforced.
• It takes only a moment of time.
• And its ROI is truly priceless.

What is it? Two words, one phrase: Thank you or thank-you.  The recipient doesn't care how you use it. They just care that you did.

It takes only a moment of your time. And no money from your wallet is needed for it.

Say it now: Thank you. Turn to the person beside and you say it to them. Thank you.

Find a colleague in the hallway. Say it to them Thank you.

Maybe the first few times you do this, you're both surprised: you who said it and they who heard it said. They may look around, puzzled, not sure if they heard it right. If they do, say it again.

They will ask For what?

Be ready with an answer. That means you need to have looked and studied this person. Appreciated them.

There's plenty of reason to make this investment. Too often, we just haven't done the research.

Why is this important?

All of us face serious challenges right now. Some of it's tangible, from external sources like losing a job. Some of it's internal like the fear of losing a job.  We all face more demands for more change for more solutions for more creativity in the coming months.

Our personal, emotional, banks may be running low. OK. They are running low. And the least expensive means to insure we have sufficient emotional capital to keep our personal banks open…is this two-word, one-phrase: Thank you.  Saying it or hearing it. The first always leads to the other.

Eventually, you will want to expand your investment in the emotional banks of those around you. Here are some other investment vehicles using this two-word, one-phrase: Thank you. (Disclaimer: Past returns are not indicators of future performance. But…the compound interest on this investment is the highest, most consistent, of any investments when judged over time and in different markets, economies, companies, relationships.)

• Be specific. Thank them for a specific result.
• Share its meaning - I: Share with them how it helped you.
• Share its meaning - II: Share with them how it will help them.
• Memorialize it: Thank them again later, say at a review if you're a manager or leader.
• Go public: Rock their world and thank them publicly.
• Rock the joint: Do the above…for everyone in the room.
• House party: Goin' old school now, make it a house party. Make saying "thank-you" standard for your company meetings. Open the doors for everyone to invest. Allow time for everyone to say "thank you" to their colleague.

Each time you say this two-word, one-phrase: Thank you, you make a risk-free, no strings attached, investment in that person's emotional bank. At work, the returns from that continue long after those words have stopped echoing in your ears and theirs.

That's the right investment in the right bank.

Now's the right time to do it.

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Tracking progress and instituting accountability creates the discipline needed to effect change [INTEGRITY], [TRUSTWORTHINESS], [RESPONSIBILITY], [UNITY]

 

How to Get Your Back Covered

Guy Kawasaki of How to Change the World | June 16th, 2009

Keith Ferrazzi is the CEO of Ferrazzi Greenlight. Since his breakout first book, Never Eat Alone: And Other Secrets to Success, One Relationship at a Time, he has counseled the world's top enterprises on how to dramatically accelerate the development of business relationships to drive sales, spark innovation, and create team cohesion. His latest book is Who's Got Your Back: The Breakthrough Program to Build Deep, Trusting Relationships That Create Success—and Won't Let You Fail. In this interview, he explains how to ensure that your back is covered.

1. Question: Why do people fail to perceive how badly they are performing?

   Answer: People tend to fall victim of what scientists call "self-serving" bias. This means that when we succeed, we congratulate ourselves. When we fail, we blame someone else. Therefore, we learn less from our failures than we could or should, and that's why we need people to help us complete the feedback loop.

2. Question: You don¹t really think CXOs can let down their shields, accept feedback, and change, do you?

   Answer: I sure do—I've worked with many execs who've done that, and it's served them well. This is the kind of leader who will thrive in today's economy and serve as the model for a new generation of CXOs. We need leadership focused on collaboration, cooperation, and candor, not isolationism and ego.

   Jamie Dimon, the president and COO of JP Morgan, turned the company on a dime in the financial crisis. He knows the value of relationships and of candor. He lets his employees tell him straight out when he has a dumb idea, and they respect him all the more for it. Candor and accountability are absolutely essential if we're to rebuild this economy and this country. And you can't be truly candid without being willing to "let down your shield" and be vulnerable.
   

3. Question: What are the signs that they need others to "watch their back"?

   Answer: There's lack of transparency; unwillingness to admit—and often to recognize flaws; unwillingness to ask for help; scarcity mindset resulting in knowledge and resource hoarding; and failure to act and/or take responsibility for actions. There are also a number of behavioral bad-habits that people develop. One of my favorites is what I call "The Shamer;" this is a person who tends to shame, embarrass, or humiliate others to cover up for his own fear of failure.

4. Question: Can we receive feedback in a purely digital way via email, tweets, Skype, video-conferencing, etc?

   Answer: Sometimes it surprises me, but I've seen people on my Greenlight Community become incredible lifelines for each other via digital channels. Lifeline relationships involve people who have your back by being generous, vulnerable, and candid with you and hold you accountable to change. That said, I'm a big believer in making that deep connection in person during a time dedicated to relationship-building—like a date, but not a romantic one. I call that a "long slow dinner." After that, technology is a great way to keep the relationship going.

5. Question: What¹s the first step to getting help?

   Answer: Oprah, the queen of respected vulnerability, once said that opening up to others started with one admission to one person. And that's exactly right—you've just got to take one risk and build out from there. But my recommended best practice is to start by adopting generosity as a core relationship-building trait. Unexpected generosity shakes people from their prejudices and established norms of behavior and affords you the permission to start interacting on a deeper level. Putting generosity first is what saves you from the overshare.

6. Question: What are the qualities of a good "buddy"?

   Answer: A great lifeline relationship embraces The Four Mindsets: generosity, vulnerability, candor, and accountability. Generosity means they're supportive, encouraging, and committed to your success. Vulnerability means they're able to listen and share on a deep level; this also means they trust you, and you them. Candor means they'll tell you when you have your head up your butt. Accountability means that they make sure you pull your head out.

7. Question: What is the process of building a team of buddies?

   Answer: I recommend people start with one, and build to a group of three or four. How formal or informal your team works together is up to you, but the more formal, the greater the likelihood of sustainability.

8. Question: Why do people fail to change?

   Answer: The fail to track progress and don't institute accountability. Discipline isn't easy, when we have so many demands on our time and attention. Having committed partners in that process is what can make the difference.

9. Question: Who would you hold up as great examples of leaders?

   Answer: I already mentioned Jamie Dimon. Another great leader is Harvard professor and former CEO Bill George; he is a huge advocate of peer support and authenticity in leadership. And of course President Obama radiates authenticity and has been able to establish an unprecedented level of connection with voters, even those outside of his base.

10. Question: Who would you hold up as the worst examples of leaders?

    Answer: Darth Vader comes to mind— but terms like "best" and "worst" is overly simplistic. We have a pantheon of American leaders heroized for their self-reliance—the John-Wayne type—but that's a model for leadership we need to move away from. We need a new class of heroes whose leadership springs from their courage to engage and connect with others, both to end a growing American epidemic of isolation and to help foster better decision making, stronger ethics, and more positive outcomes.

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