“Everything we have, we got by Relationships”
last week i had a business appointment with a retired banker who had put in 26 years of professional practice as a banker and now works as a principal consultant in a promising consulting firm, i listened as he introduced himself and ran through his professional qualifications in a two minutes pitch and he concluded by saying i fear God and i have social capital.
Hmmm, social capital, this got me thinking whiles we continued our transaction and within a a minute we were closing deal with a firm 3000 miles away.
impressed i must confess but it got to me that as humans, we are social beings by nature, in other words we are born for relationships, therefore the power of human relationship cannot and should not be trivialized. As entrepreneurs trying to restructure the future of Africa we must not take relationships, affiliations and associations for granted.
if you agree with me you’d understand that your birth is a product of relationships, your preferences, taste, style and cravings oftentimes are because of the dependable relationships and affiliations that we keep on a regular basis. no man was born to live in isolation.
Therefore,the mystery of Social capital is rooted in the ideology that economic growth and development is directly proportional to the connections between individuals and entities that can be economically valuable. Social networks that include people who trust and assist each other can be a powerful asset. These relationships between individuals and companies can lead to a state in which each thinks of the other when something needs to be done.
social capital is a valuable mechanism in economic growth. As an entrepreneurs with various global and local affiliations, i make bold to say that i have enjoyed true dividend from been in the right social circle and the fulfillment that comes from referrals from previous clients who had enjoyed my capacities and skilled competence is the fuel that drives my passion to meet new challenges we confront in the market place.
Technological advancements continue to make the world smaller and the global population more interconnected because inventors and innovators understands the weight of social capital. it has become so profound in the 21st century that global companies rely on social capital more than ever to drive business. While in decades past, companies could rely on persuasive marketing to get customers in the door, in the 21st century, those customers are plugging into social networks and relying on their peers to direct them to a provider when a business need arises.
i remember today, one of my juniors from high school, ikechukwu, he was new in Port Harcourt and got a promising job in the banking sector as a marketer with crazy targets that accompanies his job portfolio, he came running and said, how can you help me i barely know anyone in Port Harcourt, a few calls here and there to my associates, family and friends, he was on this path to becoming an enigma in the banking sector.
can you access your social capital?
sometimes or should i say oftentimes the quality of your relationships determine the quality of your life. While it it true that Social capital can also have negative effects. For example, negative social capital results when a social network is used for manipulative or destructive purposes that affect the economy negatively, such as when a group colludes to fix market prices and control patronage. take advantage of vulnerability of trust that accompanies social investment or nefarious groups, such as criminal gangs and kidnapping cartels.
Telecommunications Companies such as MTN and Uber a transport company have harnessed social capital to grow their market shares and become major disruptive forces in their industries. Both companies rely on the power of social networks not only for marketing but for quality control, as users contribute public reviews of provider quality and vice versa.
Social Capital has caught the attention of many right-thinking and forward-looking individuals of late and that is for the right reasons. What is it that you do in our modern life that social capital does not play an active role? How far can you go in life without needing social capital? Are you in the job market hoping to get a very good job? You might have crossed that bridge and already settled in a good job; how far can you go on your way to the top without being conscious of the social capital at your disposal? You may be the CEO of your own company or a politician. To continue to achieve successes in all you do, you need to make social capital an important ingredient.
START BUILDING ON YOUR SOCIAL CAPITAL TODAY AND YOUR LIFE WILL IMPROVE