Social Vs Financial Capital?

Why Would I care about Social Capital?

Social Capital as defined on Dictionary.com:

An economic idea that refers to the connections between individuals and entities that can be economically valuable. Social networks that include people who trust and assist each other can be a powerful asset. These relationships between individuals and firms can lead to a state in which each will think of the other when something needs to be done. Along with economic capital, social capital is a valuable mechanism in economic growth.

I believe social capital is by far the most important kind of “capital” to have. Why? Because its intangible value can replace or accelerate any financial capital you need.

When you are Bankrupt in Social Capital it takes a long time to regain it. The funny thing is when you are short on financial capital you can use Social Capital to get more of it or replace it.

• Have you ever needed a job and someone got your resume moved to the “top”?–That’s Social Capital
• Have you ever closed a deal becasue of an introduction to someone?–That’s Social Capital
• Have you ever been receiving an xmas card from on old boss even though you left 8 years ag0?–That’s Social Capital
• Has anyone ever done something for you when you really needed help with it just becasue they respect or love you?–That’s Social Capital

I could go on and on with this list and by now, you get it.

Social Capital is one of those intangible things that can help you grow and protect wealth in your life.

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