Our third pair of intangible assets centers on relationships. 

Reputation is a critical element in the process of attracting future opportunities such as skilled collaborators or financial backing.

Goodwill is that special something that makes other people want to help you succeed. 

Both are excellent investments. Let’s see how we can invest. 

Building a good reputation

Obviously, a reputation of being highly skilled and capable is very valuable. Such a reputation can be built through regular investments in skills and track record as discussed on Monday. 

But there are several non-technical elements of a good reputation that are even more important. Here are my top three:

• Integrity. People need to know that, if you say you will (or will not) do something, they can take that to the bank. 
• Being easy and fun to work with. If the process of working with you is genuinely pleasant, people will obviously want to do it more.
• Commitment to quality. A willingness to go above and beyond to deliver high quality results makes you a much more attractive collaborator. 

Your reputation is being built (or broken down) whenever you interact with people.

Don’t be intimidated by this fact. Rather use it to turn any challenging situation into a great investment opportunity. Indeed, good performance in tough times can really grow your reputation. 

Goodwill: Give and thou shalt receive

Do you have some people you really, truly, deeply want to do well in life? If you do, you’ll feel joy with no jealousy when they succeed and naturally want to come to their aid when they struggle. 

If you can get yourself to this evolved state with the people you spend the most time with, chances are that they will develop a similar feeling towards you. 

Obviously, I’m not advocating bootlicking here. Fake expressions of goodwill are easy to spot and often have the exact opposite effect.

You must evolve your thoughts to the point that you truly want the best for other people. 

Such genuine goodwill makes people much more open to your point of view, ideas and initiatives. And, since a lot of life is a team effort, this makes goodwill a very valuable investment.