Tag: career strategy

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

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.