Are you a T or R?

What’s a T and an R? It’s the type of person you are, either transactional or relational. Let me explain.

We all encounter transactions every day. Small transactions such as going to a store, scheduling an appointment with a doctor, and many others. These could be occasional and typically last for one transaction or one transaction at a time.

Bigger transactions like buying a house or a car can last for days or even months. This means the transaction is ongoing until it is completed.

Then there are business transactions such as meeting with a department to take on a new project or a meeting with a new client. These types of transactions can also go on for long periods of time and may never end until you stop working with that person, department, or client.

And of course we all have communication transactions every time we open our mouths. These are the ones that tend to get us in trouble.

So where does the R for relational transaction come into play? This is what all transactions should be. Think of a transaction as one and done and primarily about the financial, while a relational transaction continues and is about a long-term relationship.

These are the types of transactions that are long lasting and keep giving as both sides are invested with each other. In other words, both parties are getting and giving value to each other.

While there are many reasons to build relationships and not transactions, the biggest one is that of cost of customer acquisition. How much does each new customer cost you? Not just in dollars but in time, money and people.

What are you? What would you rather be?