Wednesday, October 21th, 2015 - 36 minutes

Show Notes
Overview

Usually we think of money in the wrong terms. Instead, we should think of favors and services.
People have lost touch with the art of negotiation. Negotiation is in our DNA and it can prove to be mutually beneficial.
Don't get too caught up in getting (small amounts of) loaned money back from others. For example, buy someone else lunch. Consider it a write off.
Give favors to other people and expect nothing in return. Even if it is something small such as taking out the trash -- do it.
Match people's problems with other people's skills in your network. This will increase the bonds between your network. 

[2:30] When people talk about money, they are thinking about it in the wrong terms. Money is an abstract concept. It is really about favors, not money. The concept of exchanging services is much more powerful than the abstract idea of money.
[3:30] Caron has a desire to meet people and grow is network and services. He wants to exchange services with other people.
[4:30] People lose sight of the art of negotiation. The bartering aspect of society has lost it’s impact. People are always open to negotiations. Bartering can be fun and it is an art.
[6:00] Don’t just take the value at face value. Nearly everything is on the table for negotiation.
[7:00] Walmart is the exception. You can’t negotiate with Sam Walton. Especially in the business to business world, you can always negotiate. For instance, exchanging references for a discount is a common practice.
[9:00] You need skills or assets to exchange with others to add true value.
[9:30]

"People get so caught up in trying to get small amounts of money back from others. Some of those things can ruin relationships. Good people will pay you back. That is why you hang around good people."

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[10:20] Erik wants to give back to others. At least once a week, he aims to buy people lunch. These small favors are not only a way to give back, but also it builds a relationship. Doing favors for other people helps value the relationship with others.
[11:30] Giving favors to others brings about appreciation. Carson wants to be the one who pays for other people. Good people will find a way to repay you. It’s human nature to want to give to others.
[12:50]

"It is more than random acts of kindness. It is about bigger favors and offering exclusive offers to good people. You should be thinking “what can I do for this person?”. You can always help other people out. It can be as simple as taking out the trash. Repaying people may not occur at the moment, but Carson always aims to repay others. Writing off those expenses will provide long term benefits."

[14:40] Don’t just network for the sake of networking. Be a contributor. Figure out what you can do for them. This has shifted Erik’s mindset. “What can I do for them?” If the other person seems to have everything, it is hard to figure out what to do for other people. The small things are what you can do for other people, such as taking out the trash. This is extreme example, but you can always be interesting to the other person. That is the contribution to the other person.
[16:00] The 100/0 rule is about giving to others without expecting anything back in return. Some people only give to others when they expect to receive something in return. This is a fallacy. If everyone were to adopt this mindset, then everyone on this Earth would be better off. Erik ends up receiving more in the long run when expectations are set to zero.
[17:20] Society functions when we exchange favors in our niche skill set. Challenge yourself to be a contributor.
[19:45] It is so easy to make someone else day by providing them favors in returns for their services - big or small.
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[20:40] The job of the people is to give back and help other people. Giving to undeserving people is perhaps not the best use of giving.