business management techniques

Business Management Social Proof – Episode #72

by Richard Wilson on July 29, 2011

The following video is borrowed from our BusinessTraining.com platform and was originally recorded for our business management training program.  I have studied the psychology of influence and persuasion and one very important psychological principle is social proof.  In this video, I explain how you can leverage the power of social proof in your business management.

Video Transcript/Summary: The strategies and tips provided within this video module include:

  1. Social proof is the idea that when individuals are unsure about what to do they will look to others to show them the correct behavior or action.
  2. Social proof applies to business management because there are many different ways in which you can use social proof to influence potential clients, business partners and others in a positive way. 
  3. One way to leverage the power of social proof is to seek out mentors and endorsements from key executives in your industry.  This will provide the social proof that top executives are trusting you with their time and that others should do so, as well.
  4. Another way to utilize social proof in business management is to complete projects that are done so well that people begin to inquire about who did that project so well.  This will create a word-of-mouth social proof that you are to be trusted and that you are talented.

Social proof is a useful psychological principle that will help you excel in your business and be more successful.  We all rely on social proof when making business decisions and you should look for ways to leverage the power of this in your business. 

Thanks for joining us, and I will see you again soon,

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Business Management Psychology – Episode #71

by Richard Wilson on July 28, 2011

The following video is borrowed from our BusinessTraining.com platform and was originally recorded for our business management training program.  In this video, I talk about leveraging the power of reciprocation in business management.  I explain what this psychological principle is and how it can really help in managing your business.

Video Transcript/Summary: The strategies and tips provided within this video module include:

  1. Reciprocation is the influence law that when you give someone something they will want to pay you back in some way.
  2. There are many ways to utilize reciprocation in business management.
  3. One way to do this is through the people who you are managing.  There may be various conflicts regarding your employees and you can use reciprocation to better manage these individuals.  You can use this strategy when assigning work, negotiating paid leave/sick days and other areas; then, your employee will reciprocate with positive performance, a good review to your superiors, and other great results. 
  4. Another way to use reciprocation is to gain the respect of your boss, your superior or business partner.  For example, you can take the initiative to document your processes or some other way of providing value first without demanding something in return.
  5. If you make a habit of providing value first, then you will find others reciprocating and helping your business grow.

Reciprocation is a very important psychological principle and I have found that it can be very helpful in motivating and managing employees, developing strong business partnerships and gaining recognition as a business leader.

Thanks for joining us, and I will see you again soon,

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