4 Powerful Ways To Boost Your Social Capital

Social capital, often referred to as the glue that holds societies together is an important ingredient to building lasting wealth. As it is commonly said that “your network is your net-worth”.

Social capital comprises of the value gotten from the social networks that connect individuals, businesses, and communities together. According to the Harvard Kennedy School of Government, “Social capital refers to the collective value of all ‘social networks’ [who people know] and the inclinations that arise from these networks to do things for each other”.

Building social capital, for both businesses and individuals, really comes down to developing and nurturing relationships with others.

Now let’s take a quick look into 4 ways you can seamlessly boost your Social Capital:

• Diversify Your Network.In order to diversify your network effectively, you need to move out of your comfort zone, demonstrate value and then people will connect with you. Build and Leverage relationships by paying it forward, be willing to offer help to others and also ask for assistance when you need it. Another way to diversify your network is to attend conferences, seminars, events and workshops where you can meet potential prospects and also build relationships with people in the same business or industry or similar vision as you.

• Trade Value

  Your network begins to grow as you develop yourself and give value to others as well. People are usually attracted to someone who is valuable. So speak to people and offer them value and guidance around your areas of expertise. Become a value giver and you will also receive same when the time comes.

• Give out Gifts

  Develop the habit of giving without expecting anything in return, and always remember that who you know isn’t nearly as important as who knows you. When you do things for other people, by giving your time for free or gifts, you gain deposits in their emotional bank accounts.

• Learn to Keep in Touch.One of the ways to nurture the network of relationships you have is to find ways to keep in touch. It pays to stay in touch, especially with people that adds value to your life. Your time is valuable so be strategic about your networking and checking up on them.

Finally, always put yourself in the right place to meet the right people at the right time. Boosting your social capital is about being human, communicating, networking and building good relationships with people of influence and value.