Today's Reading

WHAT IS THE RELATIONSHIP ECONOMY?

In a Relationship Economy the primary currency is made up of the connections and trust among customers, employees, and vendors that create significantly more value in what we sell. These relationships and connections help make price irrelevant.

The Relationship Economy is about building a culture that recognizes the importance of each individual and of making everyone a part of a community that is working toward something bigger—a community that makes them feel cared for.

The Relationship Economy is how strongly you feel about the people and businesses in your life. Relationships are the biggest differentiator in customer and brand loyalty. Relationships are at the center of all we do.

You need to make your entire organization relationship-centric from the inside out. Customers don't recommend businesses they like; they recommend businesses they 'love'. When you accomplish that, you make you and your brand competitor-proof and irreplaceable.

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With the advancement in technology, it is ironic that the disruptive force happening today in business is relationship building.


Chapter One Takeaways

* Today's illiterate are those who have an inability to connect with others.

* The greatest skill that has the biggest impact on us, personally and professionally, is the ability to build an instant connection with others.

* Today we are living in the "digital disruption era." Technology has provided us with unprecedented advances. It has also changed the way we communicate, behave, and think and has led to a dramatic decline in our people skills. As a society we are now relationship disadvantaged.

* Studies have repeatedly shown that the happiest people are the ones with the most meaningful relationships.

* In the past, cutting-edge innovation had a much longer shelf life in overcoming competition. Now, however, many of your competitors can replicate your innovations and quickly reduce any temporary advantage you had in the market.

* For anyone and any business to thrive in the future, they will have to master the art of relationship building.

Eighty-nine percent of senior leaders believe that relationships are the most important factor in their success...only 24 percent of these leaders actually do anything intentionally to promote building those relationships. Less than 5 percent of organizations actually have any specific strategies for helping their professionals develop and strengthen the relationships required to achieve their goals.

* To master rapport building, you

Must be authentic
Must be obsessively curious
Must be a great listener
Must have incredible empathy
Must love people

* Since technological advancements have come at the expense of human connections, organizations now need to reinvent their business model to marry digital and human experiences in the best way possible.

* There is a seismic shift happening today. Technology is changing the world, and not always for the better. For all the benefits it is bringing to businesses, it is coming at a significant cost: weaker human relationships that are vital to customer experiences, employee experiences, and happiness.

* The Relationship Economy is about building a culture that recognizes the importance of each individual and making everyone a part of a community that is working toward something bigger—a community that makes them feel cared for.


CHAPTER TWO
STATE OF SERVICE

"The world is becoming a little less human, and that has a cost. So it's time for leaders in the business world to think about how they can recognize the benefits of technology while also accepting its limitations. Leaders need to consider how they can get back to a more human approach to business that acknowledges our universal need for interaction and understanding." — Dan Schawbel


Before we begin to work on how to thrive in the Relationship Economy, it's important to assess where we are and how we got that way. To start with, recognizing the role that technology has played is paramount.
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***** TABLE OF CONTENTS *****

1. Welcome to the Relationship Economy
2. State of Service
3. Humanizing our Future
4. The Touch-Screen Age
5. Meet as Strangers, Leave as Friends
6. The Relationship Economy in Action
7. Be the Brand Customers Cannot Live Without
8. Be the Brand Employees Cannot Live Without
9. Are You Being Disrupted or are You the Disruptor?
10. Carpe Momento
11. Give More
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