The Bald Truth by David Falk

Author:David Falk
Language: eng
Format: epub
Publisher: Simon and Schuster
Published: 2009-07-15T00:00:00+00:00

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FALK’S FUNDAMENTALS

Goodwill is the currency of relationships.

In an age of instant information and access, competing parties will frequently find themselves in very comparable negotiating positions. What enables them to cross the divide is goodwill.

Goodwill is the lubricant that greases deals.

Highly intelligent and successful people are unlikely to persuade colleagues and competitors of a similar bent through facts, figures, or even negotiating ability to do something they don’t feel comfortable doing. What enables them to fuse two very powerful and competing forces is goodwill.

Goodwill can be your most valuable asset.

Unlike cash, inventory, real estate, or other hard assets that can be measured with traditional metrics, goodwill frequently can be the ultimate determinant of success and failure in business. Developing and maintaining a reservoir of goodwill among employees, colleagues, and even competitors is often more valuable than more tangible assets.

Goodwill must be earned before it can be employed.

Most highly successful competitors perform well under pressure. The challenge brings out their leadership abilities, their innate competitiveness, and turbocharges their skill set. By contrast, goodwill is most often earned by doing the right thing when there is no pressure to do it. By going the extra mile to be supportive, respectful, generous, and loyal, an executive earns this most valuable commodity.

Goodwill cuts both ways.

By failing to recognize natural opportunities to do the small things that create goodwill, executives often plant a negative seed that grows into reverse goodwill. When the leader most needs to call upon his troops for support, a vote of confidence, or double-duty mission, the obvious prior failure to do the right thing, to make the small gesture, rebounds with unexpected negative force.

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