REPUTATIONAL CAPITAL

In an earlier blog "The magic key, your personal brand" we made the point that the difference in earning power of individuals, companies and even countries depends on how they communicate what value they posses.

So you earn more than the next guy because you have built up value through years of study and experience and you have built a reputation that communicates this value to prospective employers or clients.

But there are those just as competent as yourself or even less so earning more money than you. When you drill down to why this is so you will invariably find they have been better able to communicate their value to their employers. This can be through better negotiation, building an industry wide reputation that is valued by the competition and all this above performing assigned tasks.

This is increasingly going to be the case in much more connected world.

The Ted Talk video of author Rachel Botsman illustrates/explains  the point perfectly and gives us a peek of what is coming.

Note however that she did this talk in 2012.