We can create value in the lives of the people we interact with. There are three primary forms of value we can provide: Financial, Intellectual and Relational.
Financial Value – The ability to compete on financial terms (i.e. price). As an investor, you have the financial means to help fund a project. A service or product that provides a financial gain or financial savings. Once the savings or financial gain is gone, the relationship begins to fade.
Intellectual Value – The knowledge that helps another person or company. Having the expertise is what is creating value. The relationship is based on knowledge. Think of a professor or a physician, once the knowledge is utilized or passed on, the relationship dissolves.
Relational Value – Authentic relationships based on trust. Being a solution provider and a problem solver with access to insight or a network that can provide someone or company with the what they need to accelerate their growth or provide perspective to their plan or development is extremely valuable.
Many businesses are being commoditized or being disrupted by technology. Building relational capital is becoming more critical. Intellectual value can be replaced, financial gains and savings change in time, however people value authentic relationships that are based on trust.
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The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation. Comments concerning the past performance are not intended to be forward looking and should not be viewed as an indication of future results.