Sunday, May 22, 2011

8 ways to make credible promises

In the last episode, I talked about how you can WIN in life by creating ASSURANCES and not PROMISES (which are difficult to believe, especially by new clients, employers or even... lovers!).

So succeed in life, in your career, in your business or even in your love life, depends on your ability to create assurances, that is, mechanisms that show to the other party that it will be VERY difficult for you to NOT keep your promise.

From my research, here are the 8 ways to make your promises credible, that is, to create ASSURANCES:
  1. Small steps
  2. Reputation
  3. Contracts
  4. Mandated agents
  5. Cutting off bridges
  6. Irreversible communications
  7. Brinkmanship
  8. Teamwork
Take #3, or contracts.

It can be very legal, or a simple agreement (in writing) between two people.

Let's say, for instance, that you're a smoker and you promise to your wife that you will stop smoking within a year.

Your (smart) wife is a subscriber to this (great) blog so she asks you, "Are you really serious about quitting cigarettes?"

You say YES.

Then, she writes up a one-page agreement which you will sign, and this agreement says that if you do not stop smoking within a year, you agree to donate $5,000 to a charity of your choice.

Of course, how this thing unfolds depends on the kind of relationship between you and your wife.

But my point is that a simple verbal promise is not enough: it doesn't really reassure the other person, nor does it compel or motivate you to keep your promise.

It is too easy, after one year has passed, for a person to say, "Well, I tried to stop smoking. I'll try again for another year."

Now, I know it is NOT easy for a person to stop smoking. So I empathize with those who try to stop, and I admire their courage for deciding to stop.

So you can take another example, like a boss promising to an employee that within 9 months, she will get a salary increase.

This female employee, also a smart woman who subscribes to my blog (LOL!), asks her boss to put down in writing that he will increase her salary by __ % within 9 months.

Not that this contract or agreement is legally binding, but it sure will motivate her boss to do his very best to keep his word.

I will talk more about the other 7 ways to create assurances, but my point is simply that to succeed in this world, you need to keep your word AND you need to trust that others will keep their word.

Good intentions are not enough; these 8 ways of creating credible promises (or assurances) will help you to keep your word and will motivate others, psychologically, to do their best to keep their word.

Please share this post with your friends if you found it useful. Share the love, share the wealth!