The Carbon Almanacstring(18) "The Carbon Almanac"

February 9, 2023
BNI, Game Theory, Networking 2

My friend, well-known author Seth Godin, has come out with a new book called “The Carbon Almanac: It’s Not Too Late”. The section on Game Theory also relates to networking very effectively. I recommend his book. This is an excerpt from the book.

Game Theory

Game theory is the study of how people or organi­zations interact with each other in a situation where there are limited resources, desired outcomes, and a finite amount of time—which precisely describes the challenges of climate. What rules would have to be in place for countries to ‘play a game’ that would lead to a worldwide reduction in emissions? Why wouldn’t wealthy, oil-rich countries cheat by free-riding when others are scaling back?

This is a version of the tragedy of the commons. If no one has an incentive to hold back, won’t everyone graze their livestock until nothing is left?

Game theory tries to solve this challenge. The problem with reciprocity is that the countries that emit the most have the least need for reciprocal behavior by others as they are the wealthiest.

Climate degradation begins when someone dumps waste or burns fuel because it costs less than doing the resilient thing instead. Degradation can be avoided when all neighbors enjoy the same incentives. The three remedies are:

  •                  Rewarding cooperation and reciprocity
  •                  Limiting the temptation to free ride
  •                  Punishing free-riders

If members of a group or different countries work together, systems can be built that lead to mutual rewards. When a marketplace is created where the invisible rules reward people for acting with the long-term in mind, that’s what people and organizations are more likely to do. It turns out that social norms, pricing real costs into the system, and other interventions can change how organizations and countries behave.

Game theory therefore explains why some nations emit and avoid cleaning up—they get the benefits of cheap fuel while others pay for it with a changing climate and pollution.

Social norms have long changed the way organiza­tions behave because they amplify beneficial long-term behaviors. The choices made by consumers and our responses to actions by producers can rewrite the rules that industries play by. Combined with fees and dividends related to carbon emission and capture, this can lead to a ‘game’ that the players win by cleaning up the mess that the last game created.

 

 

 

The book is available on amazon and select online retailers.

More information is available at https://thecarbonalmanac.org/

Five Easy Ways You May be Networking Wrongstring(42) "Five Easy Ways You May be Networking Wrong"

October 15, 2015
, , , , , , , , Blogs, Building Relationships, Butterfly Effect of Networking, Connections, Networking, Networking Prep, Networking Tactics 2

wrongnetworkingNo matter how much practice you have networking, there are always ways that you can improve. I’ve noticed a few common mistakes with networking that you can easily fix to get the most out of your relationships.

 

1 – You’re showing up late to a networking event, meeting or one-to-one.

This should be a no-brainer, but so often someone will slip into the back of a meeting five, ten or thirty minutes after it has started. How many times have you gotten a text from someone saying they were running late? Or, worse, not gotten a text at all? Such a minor issue can leave long-lasting negative ramifications in your personal and professional relationship. Avoid it, and leave to your meetings or events aiming to arrive early.

 

2 – You’re giving the appearance of untrustworthiness.

No matter what anyone says, your outward appearance can and will affect how you are perceived by potential business connections. If your first impression of someone involves their messed up hair, wrinkled pants, and an overall disheveled look, you’re not going to want to do business with them. That being said, would you expect someone to work with you if that was their first impression? Get your act together, iron your shirt, and always be prepared with your name tag and smile.

 

3 – You’re not making meaningful connections.

A referral-based relationship is more than just, “I do business, you do business, let’s do business together.” It is important to establish real relationships with your connections to encourage a long-lasting, prosperous relationship. If you’re only talking shop, you’re selling yourself short.

 

4 – You’re only thinking about your own gain.

You simply cannot expect to get anything out of a referral relationship if all you care about is getting something for yourself. Your connections will be more likely to give you business if you show your willingness to help them. Learn to use the law of reciprocity, and see your networking efforts become prosperous.

 

5 – You’re forgetting the follow up.

Most businesspeople love working with someone who is considerate, and your follow up etiquette is an easy way to show just how considerate you can be. Bonus points, your follow up technique can leave a lasting impression on someone who may have not thought you were memorable. Remember, thoughtfulness always counts in the end.

 

Are you offending any of these networking commandments? Did I forget any cardinal mistakes? Join the discussion in the comment field below.

Treat Loyalty Like Royaltystring(26) "Treat Loyalty Like Royalty"

June 26, 2014
, , , , , , , , Beth Misner, BNI, Building Relationships, Business, Employees, Gratitude, Ivan Misner, Networking, Networking Tactics, Relationships, ROI, Showing Gratitude, Video Blog 2

In this video, my lovely wife Beth brings up a phrase she has often heard me mention in many of my presentations and in various conversations over the years–“Treat Loyalty Like Royalty”–and she asks me to explain what exactly the phrase means to me.  Beth goes on to reveal that she believes just as strongly as I do in the importance of treating people like royalty when they’ve consistently shown you loyalty and commitment in one way or another.

Whether they are employees or people you do business with, if you treat others like royalty when they show you loyalty, your ‘return on investment,’ so to speak will be beyond worth your efforts.  After watching the video, I’d love to hear about some of your experiences where you’ve worked with someone who has been loyal to you and how treating them very well in return has been well worth your efforts . . . or, also, how you worked with someone who you were very loyal to, how they treated you like royalty, and how it paid off for both parties in the long run.  Please share your story/stories in the comment forum below.  Thanks!

What You Need to Know about the Law of Reciprocitystring(50) "What You Need to Know about the Law of Reciprocity"

May 10, 2010
, , , , , , , , Connections, Emotional Intelligence, Giving, Networking, Networking Prep, Referrals, Self Development, Social Capital, Word of Mouth 9

The term reciprocity is at the center of relationship networking, but it is often misunderstood. Webster’s dictionary defines reciprocity as “a mutual or cooperative interchange of favors or privileges,” as when actions taken for the benefit of others are returned in kind. This leads many inexperienced networkers to expect an immediate return for any actions they take on behalf of another.  Givers gain, right? Wrong.

Not every act of giving will be immediately rewarded by the recipient, and if you go into relationship networking thinking that simply giving a referral is enough to get you a referral in return, you’re confusing a relationship with a transaction. On the contrary, the idea driving Givers Gain® is actually the principle of giving without the expectation of an immediate return. In networking, this idea is called the law of reciprocity ,and the law of reciprocity differs from the standard notion of reciprocity in that the giver cannot, should not and does not expect an immediate return on her investment in another person’s gain. The only thing she can be sure of is that, given enough effort and time, her generosity will be returned by family, friends, colleagues and others–many times over and in many different ways.

Put simply, the law of reciprocity in networking means that by providing benefits (including referrals) to others, you will be creating strong networking relationships that will eventually bring benefits (especially referrals) to you, often in a very roundabout way rather than directly from the person you benefit.  This makes the law of reciprocity an enormously powerful tool for growing your own business’s size and profitability.

I know a lot of experienced networkers who have amazing stories about how the law of reciprocity has proved to them that there’s far more business to be gained by referring business to others than you might at first expect. If you have a story you’d like to share, I’d love to hear it, so leave a comment. Also, be sure to check back on Thursday for some tips on what to keep in mind as your learn to use the law of reciprocity.