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Book Review - MASTERS OF SUCCESS :: Social Capital

MASTERS OF SUCCESS:
Proven Techniques for Achieving Success
In Business and Life
(275 pages)

Ivan R. Misner, Ph.D. and Don Morgan, M.A.
Entrepreneur Press, 2004, printed in Canada

Masters of Success is a compilation of articles brought together by the Founder of BNI, Ivan Misner, and a Canadian and BC BNI member Don Morgan.  

In this Update, we look at Social Capital.

“Everyone thinks of changing the world, but no one
Thinks of changing himself.”
Leo Tolstoy

“A business grows through the relationships it establishes and maintains with its employees, customers, suppliers, advisors, and others. For lasting success, it must keep customers coming back to buy its products or services. People will bring you repeate business if they believe you consistently give them excellent value in return.

It’s the same with individual relationships. Each party must provide value to the other, or else the glue of exchanged value no longer binds them together. Whether within a family, a company, a community organization, or a coaching relationship, if the bond is not mutually beneficial, the relationship will end.

The days of the lone entrepreneur risking all to gain the objective, bravely bucking the odds against survival, are gone. Life and commerce in a modern society are too complex. The solo pioneer cannot keep up with the information available on the booming Internet and in the thousand books published daily, cannot understand all the factors and perform all the tasks needed to succeed. Success comes through teamwork. No one gets to the top alone – not a headlined CEO, not a sports star, not an international leader. Corporate acquisitions and mergers are less about power than survival; even large companies are less able to go it alone in the increasingly interconnected age of information.

Starting a new relationship or assembling a success team means giving others good reasons to join up. Money can jump-start the process, but it takes more than that to keep a relationship alive. What brings us together is the perception that we could share in and benefit from each other’s strengths and resources. What holds us together over the long term is that we create and maintain this relationship of mutual benefit. As we climb toward success, gaining skills and knowledge and insight, it’s wise to follow the rule of sharing: On your way up the ladder of success, don’t step on the person below you or pull down the person above you.

There are many examples of mutually beneficial relationships involving more than two individuals. In a business networking group, members gain access to one another’s information, knowledge, contacts, and other resources. People join Toastmasters in order to learn from one another the skills of public speaking. Such groups offer support, access to information, and collective strength through teamwork.

Being active in a relationship-based network is like depositing money in a bank account: the more you put in, the more there is to draw upon when needed. The concept becomes clearer if you substitute social capital for money. By making deposits to your account – referrals, expertise, public service – you build your social capital. It’s a way of marketing yourself: you are the product, and you can help others by supplying this product.

In the end, what benefit do you derive from the social capital you amass? First, you’ll find that helping others achieve their goals becomes a benefit in itself. Second, when you base relationships on mutual value, your growing social capital will attract others who can help you achieve your own goals.

(pages 163-165)

Posted by jose Tuesday May 04, 2010 17:50
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