I owe you one

In business etiquette, the phrase “I owe you one” serves a purpose far more important than casual gratitude: it stamps a favour as a recognised act. The gesture has been seen and entered into the memory of the relationship. 

This moment of acknowledgment matters because favours that go unnamed risk being absorbed into the background of cooperation and create small cracks. And in business nobody owes you a good relationship. You have to work at it.

Saying “I owe you one” does not replace reciprocation, but it establishes the expectation of it. It transforms goodwill into a commitment and if your carefully crafted reputation means anything, then when someone hears these words coming from you, they should know that it’s almost like a contract.   

Of course, acknowledgment without repayment lacks honour, so you will do well to give meaning to owing.

One thing any fan of ‘’The Game of Thrones’’ series can agree with is that the noble House of Lannister is wealthy and whenever a member of its family owes someone something, there is never a worry about payment. 

Credits: HBO - all rights reserved

Paying your debts, however, is not only about finances.

Disclaimer - in the business world, one shall stay away from paying ''other types'' of debts, in the spirit of the House of Lannister. Or Sopranos.

Debts referred to here can be about a simple thank you to someone that helped you with a contact. People have a natural thirst for even-handedness and when you do send that thank-you note or a simple appreciation text, it has a positive effect on closing the loop: 

Action + Expected reaction = Satisfaction. 

Do not deny people this feeling!

It can be about setting a coffee bill with a work acquaintance that paid for your coffee, even if it came down to one dollar. That one dollar for the coffee will not make a difference in someone’s budget but it will make a huge impact in how you are perceived, especially if this is you, every single time, for every single dollar that you owe and make sure you repay.

It can be about sending a gift when you can’t make it to an event you rsvp-ed yes to - it’s the minimum courtesy for a host that will not only be disappointed, but will probably have to fill out your seat and has probably paid something upfront for your presence.

And it can be about keeping promises in general.