Hey Subs! Could you do me a favour? I could use your feedback on this post and the KPI experiment overall. Thanks. Now on to this week's update!
Executive Summary
Explored the concept of influence through a Harvard Business Review article, focusing on the balance between warmth and competence.
Considered the options for implementing the KPI methodology: DIY approach vs. working directly with Dent Global at a cost of $7,000-$9,000.
Reflected on social media engagement, particularly on LinkedIn, questioning the authenticity of influence without direct interaction.
Rediscovered an existing connection with Mike Reed, co-founder of Dent Business Accelerators, from 2019.
Examined the importance of building relationships beyond economic transactions, emphasizing social and cultural capital.
Main Challenges: Balancing the desire to implement the KPI methodology with the high cost of guided implementation. Navigating the authenticity of influence in social media platforms.
Key Insights: Effective influence requires a balance of warmth and competence. Relationships in business should extend beyond economic transactions to include social and cultural capital.
Next week's focus: Exploring the rediscovered connection with Mike Reed and considering how to leverage existing relationships for the KPI experiment.
Last week's focus: Adding 5 new subs and feedback from 2 existing subs. (Fingers crossed!). Result: 1 new sub; no feedback from subs.
Goal: 100 subscribers by Mar 12, 2025. Direct 1:1 relationship with Daniel Priestly and/or re-engagement with Mike Reed.
Audio Notes
Key Points from this Week
The balance of warmth and competence in influence
DIY vs. guided implementation of KPI methodology
Authenticity of influence on social media platforms
Rediscovering and leveraging existing connections (if possible)
The importance of social and cultural capital in business relationships. Check out my post on Value Exchange.
Audio Notes Segments and Timestamps
[00:02] Exploring Influence and Warmth
I reflect on a Harvard Business Review article about influence, highlighting the importance of balancing warmth and competence in influencing others effectively. This insight sets the tone for evaluating various aspects of influence throughout the KPI experiment.
[02:36] Evaluating KPI Implementation Options
I consider the options for implementing the KPI methodology, weighing the pros and cons of the DIY approach versus working directly with Dent Global, including the associated costs and potential benefits of each path.
[07:36] Reflecting on Social Media Engagement
I share observations about social media engagement, particularly on LinkedIn. I question the authenticity and effectiveness of influence when there's limited interaction between the influencer and their audience, using Daniel Priestley's LinkedIn presence as an example.
[11:25] Rediscovering Connections
I discuss an interesting development where I rediscovered an existing connection with Mike Reed, co-founder of Dent Business Accelerators. This realization prompts thoughts about leveraging past relationships and the potential for more meaningful engagement beyond transactional interactions.
Key Takeaways:
1. Balance warmth and competence to enhance your influence
2. Carefully evaluate the costs and benefits of different implementation strategies
3. Prioritize genuine engagement in your social media presence
4. Leverage existing connections to build deeper relationships
5. Consider social and cultural capital alongside economic factors in business relationships
Notable Quotes:
How will people react to your style? Research by Amy Cuddy, Susan Fisk and Peter Glick suggests that the way others perceive your levels of warmth and competence determines the emotions you'll elicit and your ability to influence a situation.
For me, it's really important as an entrepreneur to establish relationships with people beyond transaction. And in some cases that aren't transactional economically. There are other components of building a relationship. There's social capital and cultural capital."
Any Questions? Let's Chat!
Has any of this resonated with you? Do you have follow-up questions or insights? Any thoughts on the quality and value this experiment is providing for you? Leave a comment below.
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