Social capital is the value of your startup’s connectivity to the marketplace — the sum of your employees’ social and professional networks. It’s an important asset when dealing with inevitable problems, crises, and failures.
The Quest for Mental Well-Being on the Entrepreneurial Journey. Mental health is intertwined with entrepreneurship performance. Much entrepreneurship performance depends on cognitive resources and capability. One thing founders can implement immediately to improve their mental health is to leverage their social capital.
To truly leverage social capital for your startup’s success, you must know how to use it effectively. It takes a diverse, industry-embedded, and interconnected social network to launch and grow your new venture over time. If you invest time in building relationships, your social capital will develop and grow over time, but connecting with other professionals is only the first step.
Networking refers to communicating and interacting with other individuals in order to make strong relationships. There has been quite an increase in the importance of networking and communication because they help to build relationships within not just our daily lives but especially our professional lives as well.
At The Endurance Group, we believe that tapping into personal, social and professional connections goes well beyond the job search. When utilizing the concept of social capital, our consultants lean on the power of our clients’ relationships to organically unearth new sales opportunities for their businesses.