Social Capital is the New Currency
How connecting with different networks gives you a competitive advantage
Bill Clinton’s famous black notebook won him the White House. This earned him worldwide acclaim as the best networker of all time.
From the age of 22, Clinton went into politics and become the governor of Arkansas. To achieve his dream, he realized that he couldn’t go it alone. He needed people, and gradually he started building his network.
Keith Ferrazzi and Tahl Raz, in their classic New York Times bestseller, Never Eat Alone state that, “today’s most valuable currency is social capital, defined as the information, expertise, trust and total value that exist in the relationships you have and social networks to which you belong,”.
Clinton realized early that the network you build will contribute to your success. His story is proof that investing in friendships and building social networks takes time to develop. It is worth the effort.
Bill Clinton did three things consistently. He built an alphabetical index card with names of people from diverse backgrounds. He sent out personal letters to people he thought would help his future career.
Clinton was famous for his personal touch when he encountered people. He would shake them passionately, making eye contact. According to Max Heller, the former Mayor of Greenville, “he hugs you not only physically, but with a lot of attitude”.
Connecting in the era of digital disruption
Maintaining your brand in the social era is important. Your success will come from the network you create and what you build together.
If you know your mission, it helps to expand your circle. Look out for friends of friends. A good starting point for building networks is by organizing parties and social get-together.
Richard Branson once suggested that social activities should be included every business plan. He believes that, “parties are a way of galvanizing teams and allowing people to let their hair down”.
Just like plants need water to flourish, a business needs people to grow. No one succeeds alone. Social contacts have no expiry dates and remain open for long. You will always need them.
This connects to what Bill Clinton did before he won the election. He realized the power of community. Every person you meet is an opportunity for you to help and be helped. It is a give and take.
When you recognize the importance of people, they will do anything you want.
My personal networking tips for success
I may not have the skills of Bill Clinton, but I learnt some very valuable lessons from him.
I changed careers over a decade ago and that gave me the opportunity to hone my social skills. My first task was to understand my new environment and how things worked. This would form the basis of my plan on where to start.
The first year was a teaching moment with steep learning curves. I had to understand the people, culture and ways of doing things. It was starting all over again. My first thought was to establish connections that would be beneficial.
I observed that relationships were built on mutual dependence. It was easier to get things done through informal networks than the official channels. There was too much dependence on the ‘ol boy’ friendship networks.
To start, I reached out colleagues in the different business units. I introduced myself and told them what I was going to be doing. This proved beneficial than sending emails.
Personal networking is a skill that we can learn and benefit from.
The tips I am about to share are my personal experiences. It can work for you too.
The activities mentioned below helped me connect with my immediate office colleagues and others. I considered people from all backgrounds to form a diverse network.
o The Jenga challenge — Jenga game was a physical skill requiring deep concentration. We met every Friday after work for this challenge. Players took turns to play until the 54-block tower crumbles. The people not involved were busy with the drinks.
Jenga was a game of equals. It created a level-playing field for all. People loved the challenge and help came from unexpected quarters. Those who won loved it and losers looked forward to next game.
o Boodle fight — This is the military practice of eating a meal together. I encouraged this as a way of team-bonding and for people to network. Common dishes were served, and people ate with bare hands. While eating, we stood shoulder-to-shoulder in a line on both sides of the table.
Boodle fight is a test of loyalty, discipline and friendship. There are no toilet breaks during the period. All dishes served on the table must be finished. Eaters must try all kinds of dishes, except if you can’t eat a specific dish.
o Monthly happy hour — My section was the largest with nearly 200 people composed of regular staff, contractors and consultants. The monthly happy hour was well attended as drinks flowed freely. Friends of the section joined to unwind and meet with people. Talking is important as ideas and information are freely exchanged.
o Friday Trekking Group — As the adage says, “healthy body, healthy mind”. This group promoted physical health and well-being. Membership was by invitation. A prospective member was invited to walk with group three times before being granted full membership. This was to show commitment.
During our walks, the team discusses many health issues such as stress management, diet, mental health among others. We had a common goal and worked towards that.
o The Professional Alliance — This group discusses self-empowerment and career growth. Members look out for one another by providing moral and financial support.
To stay in touch with global issues, we organize talks on wide-ranging topics. Notably, we ensure that the chairmanship of the group is rotated among members. This is to test the leadership skills of members.
o Football Focus — This group is composed of soccer lovers. The restrictions imposed by COVID-19 kept us indoors mostly. Soccer became the means of entertainment for members of the group. We exchange banters and troll losing sides. This network provides entertainment and fun.
These themes are not prescriptive, but they helped me adapt to the new environment. They helped me to create and maintain productive networks. With them came opportunities.
Ferrazi and Raz summed it up by stating that, “success in life is the people you meet and what you create together”.
Your network is your destiny.
Create connections and maintain relationships
Technology has now brought people closer. The people you want to meet, things to learn, and the opportunities to take are all one click away.
Social networking sites like LinkedIn, Twitter and Facebook provide the connection. They enable people to talk with one another, share information and deepen relationships.
If you manage your networks well, you will benefit from useful and relevant information. Learn to take control of your relationships. Do not look for people only when you need them.
The secret to building successful networks is loyalty. Staying true with friends or brands through thick and thin is important.
Loyalty must be earned.
