Updated: Apr 29
"Every exchange between two or more parties are governed by the internal principles of one or more seeking the exchange."
There are four types of exchanges you can have with your customers/clients:
Criminal Exchange – Where your customers leave feeling they've been robbed.
Neutral Exchange – Where your customers leave feeling they've gained nothing from the transaction.
Fair exchange - Where your customers leave feeling they received their money's worth.
Exchange of Abundance – Where your customers leave feeling like they got more than they paid for. (1)
Each of the four exchanges can be expressed in terms of time, service, effort, or money. Every organization functions consistently in at least one of these exchanges. Leaders of high personal integrity focus their attention on providing an exchange of abundance.
Abundance isn't about monetary wealth; it's about a mindset. Some of the wealthiest people I know have something money can't buy; they have strong character and a positive attitude toward people and life in general.
John C. Maxwell says, "Abundance is not having more to give; it's giving more of what you have."
In my experience, people with an abundance mindset keep high-quality relationships and consistently provide high-quality assurance in business.
Good leaders seek to distinguish themselves from others via a competitive mindset. Some tend to believe there can only be one winner. Others with an abundance mindset believe that everyone can win.
Three Traits of Leaders Who Deal in the Exchange of Abundance
1. Character Is King
Dr. Myles Munroe said, "Reputation is what others think about you. Character is the truth about you. Reputation is what you are in public. Character is what you are in private"
Nothing tests character like the Golden Rule, Treating others as you would like to be treated is the universal test of character. From your living room to the board room, life becomes your classroom. The Golden Rule applies to the neighborhood retail business and the Fortune 500 companies alike; no one can bypass the Golden Rule and achieve longevity with prosperity from one generation to the next.
Dave Anderson says, "When you combine character and integrity, here' s what you get: character is one's moral and ethical code, and integrity means that one lives according to that code. Thus, someone who lives with integrity lives according to their moral values."
Without exception, every scandal in business and government can be traced back to breaking the Golden Rule.
2. The "We" Factor
"I" over "We" is the guaranteed prescription for failure, the uppercase I always reminds me the number 1, which isn't a multiplier, it's too small for achieving greatness, but it's where we all begin. "I" must decide to be a multiplier, which requires teamwork.
The We factor is all about winning, the win-win-win mindset where no one loses; it's being others oriented. The "We" is inclusive, first our customers/clients, then our team/organization, lastly myself.
3. Quality Assurance
Quality assurance requires accountability, no exceptions; someone must be responsible. Quality assurance keeps the process, service, and delivery levels on point. Consistently delivering to standards beyond customer/client expectations is an exchange of abundance.
Understanding and adhering to the Law of Process is where quality assurance can be developed and maintained. Any company delivering below acceptable product and service standards should examine the current process, methodologies, and procedures.
Repairing, adjusting, or reimagining what a new quality assurance process looks like takes time. "Leadership develops daily, not in a day," says The Law of Process. Leadership is always the issue where maintaining quality assurance is concerned.
Upgrading the consistency and quality of the process improves customer/client satisfaction. In the end, an exchange of abundance should be our aim; aren't our customers/clients deserving of our best?
"Three keys to more abundant living: caring about others, daring for others, sharing for others."
— William Arthur Ward
1. Principles of Exchange, though there are several variations of the wording, the principles are the same and hold true in any environment.
*** This article was authored by John Picarello, Chief Leadership Officer at Lions Pride Leadership Co. ***