Before asking a network friend for a big favor like a money referral, what important first step makes sure the favor helps *bothof you?

The crucial first step before asking a network friend for a significant favor, such as a money referral, to ensure the favor helps both individuals, is to clearly assess and articulate the specific, tangible value you can offer in return, or to have already established a history of consistently providing value to that relationship without an immediate expectation of personal gain. This foundational action is guided by the principle of reciprocity, which is the social norm of exchanging favors and support over time, building a mutually beneficial and trusting professional relationship. Assess and Articulate Value means you thoughtfully identify what unique skills, resources, connections, or insights you possess that would genuinely benefit your friend or their interests, then clearly and concisely communicate this potential value to them, demonstrating you have considered their needs beyond your own immediate request. For instance, if you are seeking an investor referral, the value you offer to your friend might be the opportunity for them to enhance their reputation by connecting their contact with a promising venture, or you might offer to share specialized market insights relevant to their own business. A History of Providing Value refers to proactive past actions where you have offered support, shared information, or made helpful introductions to your friend without being asked or expecting an immediate return. Such consistent contributions build a strong reservoir of goodwill and trust, establishing a track record that demonstrates your commitment to a two-way relationship. This makes your friend more inclined to help when you eventually make a request because they recognize you as a reliable and supportive contact. Reciprocity is the underlying social principle where individuals tend to respond to positive actions with other positive actions. In networking, it is not about an instant quid pro quo, but about creating a long-term balance of giving and receiving within the relationship. By either having given previously or by clearly outlining what you can now provide, you acknowledge and engage this principle, ensuring the favor contributes to a stronger, more equitable relationship for both parties, rather than being a one-sided imposition.