Why every savvy networker needs to know about social capital!

In ‘Networking like a pro’, the authors, Ivan Misner, David Alexander and Brian Hilliard, define social capital as the accumulation of resources developed in the course social interactions. In fact on the first page of the first chapter they define what they mean by social capital… This leads me to assume that, they must think social capital is pretty important to networkers.  Mick Cope in his book, ‘personal networking – how to make your connections count’, talks about social capital in the first chapter. So, that’s four experts on networking placing a huge amount of importance on social capital for networkers. I’m not going to argue with four business networking gurus! This means that any serious networker needs to get to grips with the concept of social capital if they are to achieve their networking goals.

Cast your mind back to when you were a child at school, or maybe when you were at university. Do you remember how their always used to be a very popular member of the class? Everyone wanted to be their friend and spend time with them. These were the people who could influence how people wanted to spend their time, and what was the must have toy or game to play with. Their influence and the resources at their disposal were a measure of their social capital. I remember when as a student, I was in the computer room and approached by someone in my year that I had never met or talked to before. He seemed a pleasant chap, but I was left wondering why he had initiated the conversation. A few months later it all became clear. He successfully ran for the post of college JCR president, and he had been profile building while informally networking in the computer room. (Within an Oxford college the position of JCR president is pretty influential, and has been the starting point for many political careers. Peter Mandelson is a former JCR president of my college.)

Wouldn’t you like to be the equivalent of the most popular kid at school, who seemed to know everyone, for your network? Think how powerful it would be if you were the person that everyone wanted to help and be seen with?

To do this, you need to invest time to build up your personal social capital. Social capital includes, physical and virtual contacts and connections, e.g. No of linked in connections and Twitter followers, referrals, opportunities, goodwill and influence.

To build your social capital you have to be prepared to seek out and build and maintain relationships with people, selflessly help others in your network, but most importantly be yourself. Yes, the real authentic you whom your partner, best mate and mother know and love. Let me give you an example where investing time to build your social capital can help. I helped one of my network re-write and perfect the copy for an awards submission. As a result of my gesture, she contacted (on my suggestion) one of my clients ,who was a video producer, to help her with building her profile, rather than asking one of her client who was a video producer to help her. Powerful stuff this social capital!

Where has your social capital has helped you?

Heather Townsend is the driving force behind The Efficiency Coach and a co-founder of 'the executive village'
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