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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
May 27, 2022
59:12
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Quick takeaways
- Reciprocity can be used as a persuasive tool by giving first and creating a sense of obligation.
- Liking and personalized compliments can increase one's likability and foster positive relationships.
Deep dives
The power of reciprocity in persuasion
Reciprocity is the ability to move people in your direction and the direction of your offer without changing the merits of that offer. It involves conveying or communicating the merits of your offer in a way that makes them more attractive to the recipient. Warren Buffett and Charlie Munger gifted Dr. Robert Chaldini a share of Berkshire Hathaway's A Stock because his book Influence impacted them. By giving first, people feel obligated to give back, which can be used to influence others to comply with requests or agreements.
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