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Millennial Investing - The Investor’s Podcast Network
MI Rewind: Warren Buffett’s #3 & Charlie Munger’s #1 Business Book of All-Time w/ Robert Cialdini
Dec 22, 2023
58:53
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Dr. Robert Cialdini discusses influence in business, the addictive nature of smartphones, identifying fake online reviews, gift-giving in business, and a disastrous marketing decision by Coca-Cola. They also cover why Amazon offers to pay employees to quit and a question job candidates can ask to increase their chances of success in interviews.
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Quick takeaways
- Reciprocity can significantly increase compliance by offering something first.
- Building liking through rapport and personalized compliments enhances persuasion.
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The Importance of Reciprocity in Persuasion
Reciprocity is a fundamental principle of influence that can significantly increase the likelihood of someone saying yes to a request or agreement. By giving something first, such as valuable information or a small gift, individuals feel obligated to give something back. For example, a study found that offering a small packet of sweets along with a request for a donation increased compliance by 7% compared to just making the request alone. Reciprocity can be a powerful tool in various settings, including business negotiations, sales, and even job interviews.
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