There seem to be two prevailing winds in business networking today.  On one side is the camp that believes in husbanding connections in order to protect their business from the competition; on the other, those who believe in the free exchange of information and the benefits of reciprocity.As a small business, chances are you’ve been faced with this situation: someone wants to hire you for a job that is not ideal – it doesn’t speak to your specific area of expertise.  In wanting to be flexible, never turn people away and create sustainable future relationships (not to mention bring in some hard-earned revenue) you have options.  You can a) decline the offer, b) take on the project and run the risk of not doing a very good job, probably spending an untenable amount of time completing the task, or c) refer the job to someone else who is better suited, thereby gaining the respect of both parties.  The right choice seems clear – doesn’t it?

Unbridled self-interest
According to the Oxford University Press, reciprocity teaches that ‘in a system whereby a benefit received is returned with a benefit, under a wide range of conditions, groups practising it will flourish better than those practising unbridled self-interest‘.  Unbridled self-interest: it is not, then, an entirely selfless ideal, only the belief that we all win when we work together.

There is, of course, a distinction between sharing qualified leads with your competitors (clearly a bad idea for any savvy business person) and simply connecting interested parties who may (or may not) have need of your services.  Think about it: what better way to build professional trust than to pass on an opportunity that you know isn’t a fit to someone better qualified?  The person whom you recommend will be much more inclined to recommend you in return and the prospective client, impressed by your integrity and honesty, will certainly be back with other opportunities.

Strategic partnerships
It’s important to remember that the information you’re passing on is essentially public – by sharing your contacts you’re simply making it easier for people to access the information for which they’d otherwise have to search.  When you form these strategic partnerships, you create valuable inroads into new markets by combining your resources, capabilities and skills with those of other businesses. This creates profitable relationships that benefit from combined efforts and enhance the results of all involved.

Imagine a company that focuses on commercial writing – when a customer wants to update their website, instead of taking a crash course in web design, wouldn’t it make more sense for them to form an alliance with a web developer? Working together would ensure that the job remains time and cost effective for all; not to mention that the end product, and therefore the customer, will benefit from the input of the specialist.

The Golden Rule?
Reciprocity may sound like an overly idealistic view of the business world – and certainly there may be people who take advantage of your openness – however, it’s very likely that more people will respond in kind to what is essentially just the Golden Rule.   Don’t we all remember from elementary school to “do unto others as you would have them do unto you”?  In a very real sense, this is the main tenet of successful networking and strategic business partnerships.

You might say that reciprocity depends on a mindset.  We have a choice: to either believe in scarcity and lack, or the idea that there is enough work to go around.   Adam Smith, the great economist said, “All money is a matter of belief.”, and your business dealings will reflect this thought.  In which camp will you plant your flag?

By Katie Mead