Reciprocity as a No Cost Way to Build a Business
Richard C. Wilson speaks in a Family Offices & Family Office Club podcast about using reciprocity to build a business.
In this Family Offices & Family Office Club podcast, Richard C. Wilson explains reciprocity as a way to build referral relationships by offering useful value before asking for business. He focuses on how firms can make that value repeatable, direct it toward likely decision makers, and use public material to create interest in deeper help and further engagement.
In this video: Richard C. Wilson (Speaker)
What they said
- Richard on moving the free line. Richard says a firm can stand out by giving away more than others in its industry. He says that can mean a larger volume of material or a higher quality resource. (at 1:01)
- Richard on publishing more often. Richard says a daily interview podcast, rather than a weekly or monthly one, would create much more content. He says sticking with it for a couple years would probably create exposure and connections. (at 1:29)
- Richard on sharing strong ideas publicly. Richard says free material should give people a reason to want more help. In his view, holding back the useful ideas can leave interviews sounding like everyone else's. (at 1:57)
- Richard on tours of assets. Richard describes private jet tours that take 12 to 16 families to assets in three cities over a day and a half. He says investors can enter the assets, meet the team, and get to know one another. (at 4:14)
In their words
"i started my business in the basement studio apartment in harvard square"
"even i hadn't written a word of thought leadership"
Why it matters if you are building or preserving great wealth
For a new firm, selecting and organizing outside writing can itself be useful work. Richard's folder of hedge fund and separately managed account material gave potential investors a starting point before he had published his own thought leadership.
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Fran Tarkenton: Get in the game. As a third string college quarterback, he put himself into a game and led a scoring drive. You cannot make things better from the sidelines, he says.
- Michael Lee-Chin: Find the person who is responsible. When a problem comes up, he asks who the agent was. He wants a specific person to call, not a department.
- Tony Robbins: Think like an owner. His biggest turning point was moving from operator to owner. An operator tries to supervise everything and cannot scale.
See the data
Frequently asked questions
What did Richard C. Wilson give potential investors before he had written his own thought leadership?
He assembled a folder of useful material by other writers on hedge funds and separately managed accounts, then shared it with potential investors.
What does Richard C. Wilson say Billionaires.com is collecting?
He says Billionaires.com is organizing YouTube talks by billionaires and aims to collect email interviews for a book.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.