How to Build Up Your Social Bank Account To Grow Your Business

We all want our bank accounts to be filled with money, right?

But what a lot of people don’t realize is, you should be filling up your social bank account too.

Believe it or not, your social bank account is actually what’s going to fill your real bank account even more

You’re probably wondering “What’s a social bank account? And can I buy a yacht with it?”

When done correctly, you’re damn right you can buy a yacht.

A social bank account is when you go out with a giving hand. You spread your generosity by doing things for people and expecting nothing in return.

You want to give away so much of your knowledge and services that people feel like they owe you, and want to return all the goodwill you’ve done for them.

Let’s look at Apple – they charge premium prices for their products, because they over deliver on the features and the quality. Even 10 years later, they keep making products that we just have to rave and brag about.

You ever notice how when an iPhone user meets an Android user, the iPhone user acts totally appalled?

They turn their nose up at the Android user because they just can’t understand why anyone would buy a phone that isn’t Apple.

That’s the kind of loyalty you want to develop with people. You want to give them so much value and quality that they don’t see the sense in going to anyone else.

Give Without Expectation

Social bank account is basically following the rule of reciprocity.

When you’re generous with people, they will feel like they “owe” you something in return.

But if you’re going out and doing all this goodwill just so that people can owe you, that’s really counterproductive and it’s going to work against you.

The best way for you to build up your social bank account is by going out with a giving hand, being generous, being of service, and expecting nothing in return.

As a byproduct of your generosity when you give without expectations, that’s when you get the most back.

Dude, I’ve seen people who’ve gotten Fit Body Boot Camp tattoos!

That right there is proof that when your business exceeds expectations so much, people begin to identify with your brand on a personal level.  

I gotta give kudos to Gary Vaynerchuk when it comes to building a social bank account – that guy doesn’t sell anything to anyone!

He puts out a lot of content, gives out tons of free information, dedicates himself to changing the way people think about being an entrepreneur, and all he asks is that people purchase his books if it makes sense to them.

He’s literally built an empire based on writing books on the Bestseller list by consistently delivering content and going out with a giving hand to the world.

Why You Should Give a Damn About Giving

I’ll be honest, the turning point for me when I learned giving is the secret to more success was when I realized I was putting people off.

As humans, we come from a place of desperation. We’re pretty selfish.

And when you’re broke, you’re even more desperate. We want people to buy our products so we can make money to pay our bills and provide for our families.

So we end up pushing our wants and needs onto other people in the form of “What can that guy do for me?”

The problem is, when you’re thinking about what people can do for you, they’re thinking “Well, what’s in it for me?”

Because we’re selfish!

Once I realized I was putting people off, I changed my approach. At the end of every dialogue I have with someone, I ask “What can I do for you?”

The way I see it, I have a duty to help others. I’m well connected now, and I can help bring opportunity to other people.

I grew up in this business on the shoulders of giants, and now it’s my turn to be the giant that others can stand on.

I recently recorded a podcast with someone, and when I asked him what else I could do for him, he asked me if I could connect him with a guy who he’s been trying to bring onto his show for months.

I gladly introduced them via email, took about two minutes of my time, and now I’m guessing he’s gonna have that guy on his show.

How does this help me in the long run?

My book, “Man Up”, comes out July 2018. I’m positive I can reach out to him and say “Hey man, what do I need to do to get on your podcast and talk about my book.”

Now I know I can go to him and ask for something in return because I over delivered and exceeded his expectations.

I’m no doctor, but I do listen to a lot of audio books. And one thing I learned is that the human brain consists of 3 parts: the reptilian brain, the mid brain, and the neocortex, which is our new brain.

Our new brain helps with logic, but the reptilian brain is our bullshit detector. The antennas are always up, scoping out the people who are genuinely coming to you with a giving hand, and those who are coming to you with a catch.

If people’s reptilian brains are looking for the bullshit, you may as well come forward with generosity way before asking anyone for anything.

My rule of thumb is a year before, I’ll give you so much value and generosity so that if I need something from you down the line, I can rely on you.

And even if I don’t need anything from you, you’re just gonna think of me when you come across someone who needs to connect with me. Because of that built up reciprocity.

They’re gonna think “I have to connect this guy with Bedros” simply because I’ve never asked them for anything back after all the goodwill I’ve done for them.

And that’s how you want to build up your social bank account.

Committed to your success,

Bedros