Relationship Economics, 3rd Edition

CHAPTER 5Reputation Capital and Professional Net Worth

So far, I've shared the transactional nature of networking vs. the transformational opportunities in strategic relationships and how relationships enable business growth. We've covered six phases of strategic relationships, and, in the last chapter, I delved deeper into Strategic Relationship Planning. Through this, I hope you've absorbed how vital consistency is in how you show up with your strategic relationships. In this chapter, I aim to help you understand and apply your work-specific strategies for an extraordinary return on our relationship investments. Over the past two decades, we've proven that when you invest in your most significant asset consistently, intentionally, strategically, and quantifiably over a period, you see and experience actual results and definitively set yourself apart from your peers.

We'll begin by delineating your technical competencies vs. your willingness and ability to build and nurture valuable relationships. Then we'll elevate your perspective from the short-term exchange of Relationship Currency to the medium-term impact of Reputation Capital. Next, I'll dive deeper into how your reputation can be assessed, key leading indicators to pay attention to now, and the cost of a damaged reputation. Finally, we'll wrap up this chapter by focusing on your end game: professional net worth or relationship assets minus your relationship liabilities. Whether in the spring, summer, or fall of your ...