Last week marked the end of the Cash for Clunkers program. It has allowed people to trade in cars for more fuel efficient models. It has also increased sales and employment for the auto companies.
By giving rebates to consumers (or helping make deposits into their bank accounts indirectly), manufacturing productivity and consumer confidence have risen.
According to Stephen Covey, author of The Seven Habits of Highly Effective People, we can employ a similar concept in our own lives. When we make deposits into other peoples’ emotional bank accounts, productivity and trust increase.
How do we do this? Treating people with respect, keeping our word, acknowledging others, extending trust and offering support are all ways to put deposits in others’ accounts. The more deposits we make, the stronger the relationship.
The stronger our relationship, the more likely we trust, communicate, delegate effectively and ask for support.
As a result, our productivity and efficiency increase.
When withdrawals (or mistakes) are made, the relationship will not collapse.
Like your own bank account, the higher the balance, the greater the ability to make a withdrawal.
While you may not be shopping for a new car, most of us are always in the market for more time and strong relationships.