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How does the Ben Franklin effect improve business?

When a business associate does you a favor, it can be difficult to know how to reciprocate. The Ben Franklin Effect can help in these situations.

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ben franklin effect

How Ben Franklin can help your biz

When a business associate does you a favor, it can be difficult to know how to reciprocate. There’s an interesting theory, known as the Benjamin Franklin Effect that can help you when you’re in a situation where you’re trying to network or make a sale. Franklin wrote this in his autobiography, “He that has once done you a kindness will be more ready to do you another, than he whom you yourself have obliged.”

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According to Franklin, you grow to like the people you do nice things for. It’s almost a reverse psychology. Jon Jecker and David Landy studied this effect and published their findings in 1969. A lecturer was more liked by the students he asked to loan him money than the students who weren’t asked.

While not reciprocating may seem counterintuitive, consider that most business owners understand the concept of taking on debt to increase their business. When you ask a colleague for a favor, you’re essentially telling them that they possess something you don’t. You’re showing respect to them, and they will see you in a different light. Their opinion of you will go up.

How does this work in sales?

In the beginning, ask people for advice or expertise. Ask to borrow something tangible, like a pencil. Make the person invest their time in you. When you’re feeling like you’ve hit a wall in a negotiation, ask the other person to do you a favor. Give them a reason to get back to you.

When you apply the Benjamin Franklin Effect to your professional life, it can boost your likability. Maybe you have a person that you just don’t seem to get along with. Nelson Mandela phrased it like this – “If you want to make peace with your enemy, you have to work with your enemy. Then he becomes your partner.” Encourage people to work with you by getting them to say yes to small favors. You’ll form a bond with them that goes beyond the moment.

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Dawn Brotherton is a Staff Writer at The American Genius, and has an MFA in Creative Writing from the University of Central Oklahoma. Before earning her degree, she spent over 20 years homeschooling her two daughters, who are now out changing the world. She lives in Oklahoma and loves to golf. She hopes to publish a novel in the future.

Business News

Wal-mart can’t keep up even with fresh online technology

(BUSINESS NEWS) Wal-mart had hoped to keep online retailers from encroaching on their turf with AI assisted shopping start up Jetblack, but unfortunately that didn’t work.

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Wal-Mart’s exclusive delivery service, JetBlack, is no more. What’s the deal?

Wal-Mart’s acquired start-up, JetBlack, had an interesting challenge: getting affluent New Yorkers to purchase goods from Wal-Mart, instead of other places. Now, about two years after its initial launch, JetBlack has been shut down. So, what’s the deal?

JetBlack was a delivery service with an interesting twist: it utilized AI to respond to text message requests. For instance, users could send a text like “I need more toilet paper” and drawing from initial information input into the system, past experiences, and the occasional “professional shopper,”, JetBlack would hook the user up with a delivery.

The AI could also give suggestions if users asked questions. Don’t want to shop for your niece’s birthday present? No problem, JetBlack would give you ideas of what to purchase and then deliver the gift to your door, gift-wrapped and everything.

By increasing the convenience of the shopping experience, Wal-Mart hoped to use JetBlack to lure wealthy households back to buying from Wal-Mart. Membership fees were $50 a month, which seems steep, but Wal-Mart asserts it was actually losing about $15,000 per member on a yearly basis. Awkward.

So, what went wrong?

Part of the problem might be just how much work went into a small percentage of customers. For instance, it took effort to get new users onboarded. Best case scenario, this was a phone call to tackle basic needs and interests, but users could also opt to have employees visit their home and assess their preferences in person. (It’s also incredibly creepy, but hey, at least there’s additional convenience?) Point is, these personal touches aren’t exactly sustainable for a growing market.

It also might just be that Wal-Mart wasn’t really skilled at putting this newly acquired start-up to work. An interview with Business Insider reveals that the ordeal, while expensive, also served as a massive learning process.

While JetBlack has ended its current run (and lost a number of employees in the process), the technology developed by the company will live on. In fact, Wal-Mart is going to try to strengthen their infrastructure and hopefully integrate JetBlack’s texting and AI capabilities in a wider release. Who knows, maybe in the future, more of us will be able to send off a text to have someone else take on the challenge of purchasing our niece’s birthday present.

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Business News

How remote work has changed over the last decade

(BUSINESS NEWS) let’s reflect on how remote working and telecommuting has changed in recent years and look to how it will continue to change in the 2020s.

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As someone who often works remote, it’s interesting to see how much that means for work has evolved. The increase in commonality has been steady, and shows no signs of slowing down. Go Remotely has developed an insightful graphic showing the changes in trends regarding remote work over the years.

“For decades, the established economy dictated that you should pick one job, visit the same office for the next 40 years, and then retire,” reads the graphic’s intro. “However, recent remote working stats suggest the working world might be in for some revolutionary changes.”

From there, the graphic is broken down into five facets: Flexible Workspace Policy, Entrepreneurial Minds, Telecommuting is a Growing Trend, The Role of Companies in the Remote Working World, and The Future of Telecommuting.

With Flexible Workspace Policy, its suggested that telecommuting could be a solution for costly issues including lack of productivity caused by employee distractions, health problems, etc. It is said that employers lose $1.8 trillion annually due to these issues.

The end of 2018 found 35 percent of the US workforce working remotely. This is only expected to climb. Ten percent of employees don’t know if their company offers flexible work policies (this is something to check into!)

Bills and laws for virtual jobs passed by governments reflect the need for accessibility, economic stability, and emigration concerns. Companies with flexible work policies have reported seeing increases in productivity and profits. (Funny those both start with pro, no?)

With Entrepreneurial Minds, a few interesting things found include: remote workers are less likely to take off if they are sick, the majority reports better productivity when working alone, the majority reported lower stress levels. However, there is a problem with not being able to unplug after work which is an issue for some.

Telecommuting is a Growing Trend finds that there has been a seven percent increase between 2012 and 2016, with the majority (80-100 percent) reporting they work remotely. Industries seen embracing remote work include: transportation, computer/information systems/mathematical, arts/design/entertainment/sports/media, finance/insurance/real estate, law or public policy, community/social services, science/engineering/architecture, manufacturing or construction, healthcare, education/training/library, and retail.

The Role of Companies in the Remote Working World finds that the pros to hiring remote workers includes: finding talent outside of your geographic area, improves retention on work/life balance, increases productivity by decreasing commute time, and saves money by requiring less office space. The cons include lack of timeliness when it comes to receiving information from employers.

Finally, the Future of Telecommuting suggests that in 2020 the US mobile worker population will surpass 105 million (and will account for 72 percent of the US workforce). Hiring managers predict that telecommuting will increase tremendously, most skills will become even more niche over the next decade, and many think that 38 percent of their full-time workers will be working remotely in the next decade.

How do you feel about the increase in remote working and telecommuting?

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Business News

ClickUp team productivity app is gorgeous and wildly efficient

(BUSINESS NEWS) Seeking to improve your productivity and speed up your team, ClickUp is an inexpensive option for those obsessed with efficiency.

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Back again to obsess over productivity apps – ClickUp, is a project management tool seeking to knock the frustration out of PM. It’s getting some good reviews, so I gave it a try for a week by setting up my current job search as a project and getting a feel for the app. And as you’ve read in my other reviews, we will address features and design.

On the feature front, ClickUp offers a pretty standard set up of tools for a productivity app. What stands out first and foremost are the status options. In general, most productivity statuses are simple: not started, started, in progress, done, etc.

But ClickUp lets you set up custom statuses that match your workflow.

For example, if you’re doing instructional design projects, you may assign projects based on where they are flowing in an ADDIE model, or if you are a Realtor, you may have things cataloged by sold, in negotiation, etc.

Customization is king and custom status is the closest you get to building your own app. And if you like it simple, you don’t have to customize it. The assigned comments feature lets you follow up on specific comments that originate action items – which is useful in team collaborations.

You can also assign changes to multiple tasks at once, including changing statuses (I would bulk assign completion tasks when I finished applications that I did in batches). There a lot of features here, but the best feature is how the app allows you to toggle on and off features that you will or won’t use – once again, customization is front and center for this platform.

In terms of design and intuive use, ClickUp nailed it.

It’s super easy to use, and the concept of space is pretty standard in design thinking. If your organization uses Agile methodology, this app is ready for you.

In terms of view, you can declutter the features, but the three viewing modes (list, box, and board) can help you filter the information and make decisions quickly depending on what role you have on a board or project. There is also a “Me” board that removes all the clutter and focuses on your tasks – a great way to do focused productivity bursts. ClickUp describes itself as beautifully intuitive, and I can’t disagree – both the web app and mobile app are insanely easy to use.

No complaints here.

And the horizon looks good for ClickUp – with new features like image markup, Gannt charts (!!!!!! #nerdalert), and threaded comments for starts.

This application is great, and it’s got a lot of growth coming up to an already rich feature base. It’s free with 100MB of storage, but the $5 fee for team member per month that includes team onboarding and set up (say you’re switching from another platform) and Dropbox/Google Docs integration? That’s a bargain, Charlie.

ClickUp is on the way up and it’s got it all – features, a beautifully accessible UI, relentless customization, and lot of new and upcoming features. If you’re into the productivity platform and you’re looking for a new solution for your team, go check it out.

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