Social capital isn't a new concept in today's business world. We all need it. We all make use of it at one point or the other. Here in Nigeria, we refer partly to it as "buttons" "networks" or "connections" -- and skills, certifications, and on-job experience are all perceived as secondary in the new dynamic view of success.

Let's use these illustration to explain in plain terms what social capital really is.

There is this graphic that trended on the internet a while ago. On the image, a job seeker in the United States goes for a job interview and he is asked; "what skills do you have?"

Another job seeker in the United Kingdom goes for a job interview and he is asked; what's your academic qualification?

However, when the job seeker from Nigeria approached the interview desk, the first question he was asked is "who sent you?"

Funny as the last question might seem, it reflects the state of our world today. it succinctly captures why social capital is important and why it's essential to invest one's time in piling up this vital asset.

Social capital is an intangible asset, but it is real -- and though it cannot be measured quantitatively, its value can be felt wherever it exists.

The word 'Social' defines Social capital as it resides in relationships and networks.

While the “Capital” emphasizes that social capital, like every other form of capital, is productive.

But simply saying that social capital is "productive" is demeaning to what it truly is.

Without social networks, it's twice as hard for anyone to be successful or even survive to say the least.

A person's social net-worth is a reflection of how much value he or she can give.

Building the right social networks is one of the best strategies you have to scale your business and boost your career.

As the saying goes "the friends you make today are your children's connections tomorrow". So, invest your time in building quality friendships, a time will come when you will need it.

https://canonspace.com/2020/10/02/what-is-social-capital-and-how-much-of-it-do-you-have/