Month: March 2024

A Prisoner’s Dilemma in Disguise

The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday’s logic.

Peter Drucker

The prisoner’s dilemma, a cornerstone of game theory, has been captivating minds and sparking debates for decades. This thought experiment, in its elegant simplicity, reveals profound insights into human behavior, cooperation, and the complex dynamics of trust in our interactions.

Imagine two suspects, held in separate cells, faced with a choice: betray their partner in crime and go free, or remain silent and risk a longer sentence. The catch? If both betray, they both serve a moderate sentence. If both remain silent, they face a lesser charge. The temptation to betray is strong, but the reward for mutual cooperation is enticing

Now image your career as a high-stakes game of chess. Each move you make, each decision you face, is like a prisoner’s dilemma in disguise. Do you prioritize your own success, or do you work together with your colleagues for the greater good of the company? The corporate climb is a delicate balancing act between self-interest and collaboration.

The most important single ingredient in the formula of success is knowing how to get along with people.

Theodore Roosevelt
A Prisoner’s Dilemma

Meet Sarah, a bright-eyed young professional starting her journey up the corporate ladder. She quickly realizes that the path to success is not a solo climb, but a team expedition. Like a climber navigating a treacherous mountain, Sarah must rely on her colleagues, building trust and cooperation to reach the summit.

The strength of the team is each individual member. The strength of each member is the team.

Phil Jackson

Sarah’s first project is like a microcosm of the prisoner’s dilemma. She and her colleague, John, are tasked with delivering a crucial presentation. They each have the option to focus on their own contributions or to collaborate and create a cohesive message. If both prioritize their own agendas, the presentation suffers. If both work together, the project thrives. Sarah realizes that the key to success lies in building trust and cooperating with John.

As Sarah progresses in her career, she encounters countless prisoner’s dilemmas in disguise. In a meeting with a difficult client, she and her manager face a choice: prioritize short-term gains or build a long-term relationship. In a cross-departmental project, she and her team can either focus on their own objectives or work together towards a common goal. Each decision is a move on the chessboard, shaping Sarah’s path forward.

“Coming together is a beginning, staying together is progress, and working together is success.” – Henry Ford

Sarah’s journey takes a turning point when she’s offered a leadership position. Suddenly, the prisoner’s dilemmas she faces have higher stakes and broader implications. As a leader, Sarah must navigate the delicate balance between her team’s success and the company’s overall goals. She realizes that building a culture of trust and cooperation is the key to unlocking her team’s potential.

Like a master chess player, Sarah learns to anticipate the moves of others and make strategic decisions that prioritize long-term success over short-term gains. She builds alliances, fosters collaboration, and creates a shared vision that inspires her team to work together towards a common goal.

“Alone we can do so little; together we can do so much.” – Helen Keller

As Sarah reaches the upper echelons of the corporate ladder, she realizes that the lessons of the prisoner’s dilemma have been guiding her all along. In a world where self-interest often seems like the path to success, Sarah has learned that true success comes from building trust, fostering collaboration, and working together towards a shared vision.

The corporate climb, like the prisoner’s dilemma, teaches us that we are all interconnected. Our success is not just a measure of our individual achievements, but a reflection of our ability to work together, build trust, and create shared value. By navigating the prisoner’s dilemmas in disguise and prioritizing cooperation over self-interest, we can all reach new heights in our careers and in life.

So, as you navigate your own corporate climb, remember the lessons of the prisoner’s dilemma. Build trust, foster collaboration, and work together towards a shared vision. The path to success is not a solo journey, but a team expedition. With each move on the chessboard, you have the power to shape your own path and the success of those around you.

The Ben Franklin Effect

“He that has once done you a kindness will be more ready to do you another, than he whom you yourself have obliged.” – Benjamin Franklin

The Ben Franklin Effect, a psychological phenomenon named after the famous American founding father, offers a surprising and counterintuitive approach to winning people over and advancing your career. As Franklin’s quote suggests, asking someone for a favor can be more effective in gaining their support than doing them a favor first.

The Ben Franklin Effect

Imagine your career as a rocket ship, ready to launch into the stratosphere of success. Just as a rocket needs a launch pad and boosters to propel it skyward, your career needs the support and mentorship of influential people to reach new heights. But how do you gain their favor and turn critics into allies?

The person who receives the most favors is the one who knows how to return them.

Thiruman Archunan

The key lies in the Ben Franklin Effect. By strategically asking for favors from the right people, you create cognitive dissonance in their minds. They subconsciously justify their actions by believing they must like you, otherwise they wouldn’t have done you the favor. This subtle shift in their perception can transform indifferent or even adversarial colleagues into supportive allies.

To apply this effect to your career advancement, start by building genuine relationships and seeking small favors, such as asking for advice or recommendations. As you progress, look for opportunities to collaborate on high-visibility projects or gain introductions to key stakeholders. Remember, the goal is not to manipulate others, but to create mutually beneficial relationships that help you grow and succeed.

The successful networkers I know, the ones receiving tons of referrals and feeling truly happy about themselves, continually put the other person’s needs ahead of their own.

Bob Burg

As you navigate the corporate landscape, remember that the Ben Franklin Effect is just one tool in your career advancement toolkit. It requires tact, timing, and a focus on building authentic connections. By combining this strategy with a genuine desire to help others and provide value, you’ll create a powerful network of supporters who will champion your success.

Consider the story of Michael, a talented VP of Operations who aspired to become the company’s next Chief Operating Officer (COO). He knew that to reach this goal, he needed the support of the current COO, Lisa, a renowned industry leader known for her strategic insights and influential network. However, Lisa had little reason to notice Michael, let alone champion his career growth.

Instead of trying to impress Lisa with his achievements or doing her unsolicited favors, Michael decided to apply the Ben Franklin Effect. He approached Lisa after a board meeting and asked if she could recommend any leadership development programs or executive coaching resources that had been instrumental in her own career journey. Lisa, flattered by the request, shared her experiences and offered to connect Michael with her own executive coach.

That simple favor request sparked a mentoring relationship that accelerated Michael’s path to the C-suite. Lisa began to see Michael as a high-potential leader and took him under her wing. She provided guidance, shared invaluable insights, and even advocated for his promotion to COO when she decided to step down. By asking for that initial favor, Michael had turned a distant executive into a committed sponsor who played a pivotal role in his ascent to the C-suite.

“The successful networkers I know, the ones receiving tons of referrals and feeling truly happy about themselves, continually put the other person’s needs ahead of their own.” – Bob Burg

As you navigate the path to executive leadership, remember that the Ben Franklin Effect is just one tool in your career advancement toolkit. It requires tact, timing, and a focus on building authentic connections. By combining this strategy with a genuine desire to help others and provide value, you’ll create a powerful network of supporters who will champion your success.

So, take a lesson from one of history’s most influential figures and start turning critics into allies, one favor at a time. As you do, you’ll unlock new opportunities, gain valuable mentorship, and propel your career to new heights. The sky’s the limit when you harness the surprising power of the Ben Franklin Effect.

The 95:5 Rule

Have you heard of the 95:5 Rule? Based on research by Professor John Dawes, this rule states that at any given time, only about 5% of buyers are actively in-market for a particular product category. The remaining 95% represent future buyers who will enter the market when the need arises.

But what does this have to do with your career? Turns out, quite a bit.

Think of your career journey like a long hike. At any given point, you’re actively exploring a small number of opportunities – maybe 5% of what’s out there. These could be new roles within your company, a promotion you’re chasing, or skills you’re actively developing. This is your “in-market” 5%.

However, the vast majority of potential paths are not yet on your immediate radar. They represent the 95% of future possibilities that will become relevant as your circumstances and goals evolve over time. Just like a hiker can’t see the entire trail at once, you can’t pursue every career option simultaneously.

To make the most of the 95:5 Rule in your career:

  1. Actively invest in the 5% – Give your full energy to the opportunities you’re currently pursuing. Whether it’s crushing your current role, learning a new skill, or interviewing for a dream job, be “in-market” with gusto.
  2. Keep an open mind to the 95% – Don’t get tunnel vision. Keep scanning the horizon for new possibilities, even if you’re not ready to pursue them yet. This could mean attending industry events, growing your network, or simply staying curious.
  3. Trust in the journey – Just like a hiker has faith that the trail will open up new vistas, trust that your 95% of future possibilities will become clearer with each career step. Each role, project, and connection is shaping your path.
  4. Regularly reassess – As the “in-market” 5% shifts, periodically reevaluate your career priorities. Are you still energized by your current focus? Is it time to bring some of that 95% forward into active exploration? Pausing for self-reflection keeps you agile.

By embracing the 95:5 Rule in your career, you can balance active pursuit with open-minded exploration. Focus on the most impactful 5% while trusting that the 95% will continue to reveal new opportunities as you grow. Your career hike may be long and winding, but it’s all part of the adventure.

Check out this episode!