Human history is filled with stories about exchanges of trinkets, labor, wisdom, and resources. These stories include a pattern language so familiar they form the foundations of every conversation. Do you know your eight primary narratives?

The Narratives of Transaction

We think in story. We use story structure to organize our thinking and make sense of the world.

What is your story? We each have our favorite stories (I prefer Possibilities) and the stories we don’t prefer (Intent to Act is lost on me). This, however, is telling as it begins to reveal where we’re best suited in any transaction. It also reveals where our transactions fall apart.

The following eight exchanges are a pattern of narratives so familiar, they form the foundation of every conversation we have with other people. These include, but are not limited to, exchanges with other colleagues, customers, organizations, and nations. Most problems occur when one or more exchanges are skipped or assumed.

There are eight fundamental exchanges, and each has a specific purpose represented by a narrative. Once the aim of each narrative is satisfied, the transaction phases into the next exchange in the cycle. These are shown in the diagram:

Click the image above to download the diagram and its use.

Most personalities are well versed in some but not all narratives. Each personality demonstrates both assets and liabilities that can accelerate transactions or grind them to a halt.

1. Possibilities

Life is full of possibilities for solving problems, avoiding threats, seeking comfort, and living a good life. It is from this world of many possibilities that choices emerge. It is from a world of possibilities that we find something specific—a possibility.

The purpose of this exchange is to explore the most significant possibilities to satisfy an aim or avoid a threat. With a proper and accurate inquiry, we can navigate the numerous possibilities available to us, identify the best options and choices when they emerge, and avoid those that will not satisfy our ultimate chief aims.

2. A Possibility

At some point, out of this world of influences, options, and potential choices, one in particular emerges as a possibility that begins to focus our thinking and activity.

The purpose of this exchange in the transaction cycle is to reach a meeting of the minds with the parties involved that a possibility or concern exists and there is clear interest and acceptance that more attention should be paid to a specific situation, strategy, project, or problem.

3. Intent to Act

An intention is a concern for how to act. We remain in a narrative or dialogue of Intention until such time that we have worked out and accepted the general ways and means for accomplishing the act. An intention will remain an intent to act until such time that we are able to articulate a general course of action or a general pathway for its fulfillment. One major concern that must be accepted by all parties to any transaction in the exchange we call Intent to Act is what will be sacrificed by the parties to fulfill and complete it.

In formal arrangements such as business transactions, for example, this exchange would be akin to an offer or proposal.

4. Commitment to Act

A commitment is a promise to act. We find that when most people arrive at this point in a transaction, they tend to recognize that the environment and moods have taken a more serious turn.

A commitment, when made and accepted properly, is the articulation of the specific work and action that will or is to be done, what sacrifices will be exchanged in the process, and what specific consequences will be involved in the event of nonperformance.

5. Labor, Work & Action

Labor, Work & Action is the narrative that represents fulfillment and production in every transaction. Something gets done, produced, created, performed, etc. The salt gets passed, the burger gets made, the dishes get washed, the loan is processed, the presentation gets performed, etc.

The more specific the articulation of the labor, work, and action, the better. The production of work is objective and ought not to leave too much room for possibilities and good ideas.

6. Results/Consequences

Once the work starts, results get produced. Results and Consequences represent the narrative of measuring, collecting, and reporting what happened and what is happening; what metrics are satisfied and which are not. Get the data you need to validate or modify your assumption.

This exchange in the transaction cycle involves establishing what metrics give the best picture for determining compliance and the methodology for accurately collecting and reporting them.

7. Facts/Judgments

Facts represent the narrative for this exchange in the transaction cycle. This exchange is where we make judgments and declare the “facts” of the transaction. When we have the results in hand, produced, and, in most cases, continually being produced, we immediately begin to make judgments and construct facts about them based on our objectives and aims.

We need to approach every transaction with the most relevant and essential results and consequences in hand, with a keen eye on whether the transaction is meeting our aims or not.

8. Inquiry

If there is a starting and ending point to every transaction, it is likely here. Inquiry represents the narrative for this exchange. Planning is a process of inquiry, for example, beginning with the facts of the case and a proper assessment of the current situation, and an inventory of resources.

The purpose of this exchange is to think accurately and clearly about specific aims, needs, and wants. Inquiry is a must before rushing into action and attempting to confront the world of possibilities.

You’re Always Transacting

You are transacting every day in ways you may have never considered before. You’re literally already involved in dozens of transactions each day, whether you realized it or not.

And if you’re ambitious and have lofty aims in life, then you are likely transacting for knowledge and access to new opportunities to invent new transactions that, when successful, afford you the freedom to live a life of your own design.

To cut to the gist: you constantly transact whether you are aware of it or not, whether you like it or not, and whether you think you should or shouldn’t have to. You are always transacting.

The question is: Are you transacting powerfully?

AUTHOR

John Patterson
Co-founder and CEO
INFLUENTIAL U
John Patterson co-founded and manages the faculty and consultants of Influential U global. Since 1987, he has led workshops, programs, and conferences for over 100k people in diverse professions, industries, and cultures. His history includes corporate curriculum design focusing on business ecosystems, influence, leadership, and high-performance training and development.