Capital: a store of useful assets or advantages

Ask most businesspeople how much capital they currently have and most likely the response will reference the asset that shows up their accounting balance sheet. Financial capital is indeed powerful and necessary for the success of any business. But what about its lesser celebrated sibling, “social capital.” How robust is your social capital account? ... and, should you care?

Social connectivity is one of the key elements of social capital. The power of social capital and social connectivity came up recently on one of my favorite on-line business and career forums ("Your Brand") under a discussion that touched on how successful entrepreneurs instinctively network.

“Networking” ... blech. For many people, the idea of "networking" can feel utilitarian at best, and seedy at worst. More than likely, this is because often people only touch in with their broader network when in need of something, like a job or a business lead. What if we transformed our idea of “networking” from a necessary (and perhaps to some, a distasteful) business tool, to an opportunity for increasing our connection to each other—our social capital?

By focusing on the importance of being connected to each other—in all aspects of our lives—the idea of networking becomes a delightful exploration of humanity instead of a game of “as needed” back-scratching. I've been re-framing the concept of networking with my clients as creating a"matrix" or a "weave." The idea being that as you joyfully and actively connect with others, you strengthen your network and intertwine your lives, creating a strong woven fabric. On the flip side, if you only add strands to that fabric when you're in need, the blanket you create is probably not going to be big enough to cover you.

So, what are some ways you can strengthen your connective fabric and increase your social capital? Here’s your homework for this week: