In business, and definitely in life, it’s always been about who knows, likes, and trust you. Andrew Hargadon has written an excellent piece that examines (via Ben Horowitz ), the investing framework of Ron Conway one of the Silicon Valley’s uber angels. Key points:
- Social capital (connections) are often more important than financial capital (cash) to startups.
- Cash can bring find connections, but they might not be the right people or have the right reasons.
- Public agencies have the potential to play a significant role if they would harness the power of their broad ranging networks and focus it on nurturing emerging concerns.
Why do I think that this warrants your attention? Because business relationships are personal relationships. As we go about building, or reviving stalled, strategic initiatives we need to be sure to incorporate into the business model both the creation of and focused use of social capital. Upon the relaunch of my multi-decade venture commonly referred to as me, myself, and I – see Mitch Joel’s piece ‘CRTL-ALT-DEL’ or Chris Brogan’s series on redrawling his workflow – I’ve been fortunate enough to be a member of the founding class of Keith Fezzazi’s Relationship Management Academy (RMA). The benefit, learning the rules behind a proven system that’s focused on building your ultimate network – emphasis on a network that is right for you. I want to public thank Tim Kastelle for bringing Andrew Hargadon’s blog to my attention. Tim is a member of the Technology & Innovation Management Centre in the School of Business at the University of Queensland, his work is something that you definitely need to keep on your radar screen.