“Law of Recognition”

By Preston Wilson

If you’ve followed my articles over this past year, it’s not hard to recognize the value that I place on people. I believe people are the key ingredient to any successful investment. Without the efforts and ideas of people, there is no healthy economy. I have learned to apply a valuable principle to relationships that stimulates a greater and more rapid return on my investments. One of my mentors likes to call this the “Law of Recognition”.

Anyone unrecognized becomes uncelebrated. Anyone uncelebrated becomes unrewarded. Anyone unrewarded will eventually exit your life. Recognition and appreciation of the performance of key people in your life will sustain and progress your endeavors in most cases, more than any other resource. So, who are these people and how should they be rewarded?

In business, I am connected to well over 100 partners, investors, employees and subcontractors. Some I see daily, and some I may see only a couple of times a year. My personality has grown from being the class clown to a very no-nonsense kind of guy. Many would classify me as a workaholic. It takes effort , but I try to pause, recognize, and show appreciation to those people who have joined with me in some form or another to achieve success. As an appreciation, I offer assistance and involve myself in the achievement of their personal endeavors from time to time.  I realize that I am not the only individual with goals and investments. I often try to send encouragement and personal appreciation emails. Another very effective way that I’ve learned to show appreciation is to constantly strive to create a pleasant working environment. It’s difficult for people to perform progressively and positively in a 1970’s environment in the year 2010. It’s surprising what little things like this will do for you.

Another group of people that contribute strongly to the success of your endeavors are your friends and family. Without the support and contribution of these people from your past and present, you more than likely would not have achieved your goals thus far. These people are often the most neglected and may be viewed as unrelated to your business. I must say that until the past few years, I felt that way as well. These people not only make sacrifices at times, but they are there to continue sharpening you socially and providing a necessary outlet from the pressures that you face in your business pursuits. I have very close friends that I am often serving and rewarding in different capacities for their continued friendship. I could never reward my wife and family enough for the contributions and sacrifices they have  made as I pursue my vision, but I give it my best effort. Consider the setback you would face if the people you count on were to exit your life. It would definitely impair your progress.

This “Law of Recognition” that I am revealing may seem a bit weird coming from a hardcore entrepreneur, but I have experienced the results. The investment of time that you put into the lives of people surrounding and supporting you will bear uncommon results. The season that we are entering into is an open door for you to begin applying and testing these principles. Stimulate your business by recognizing and rewarding those around you this Thanksgiving.