[Link].

com
[Link]

MODULE FOUR : TOPIC 2

CREATING A NETWORK STRATEGY

Transcript

The
Social Capital
Strategy
Framework

TRANSCRIPT
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

In the last lesson, we talked about viewing opportunities as a set of relationships.

If you can “see the Matrix” -- if you can see how all outcomes are actually
shaped by people -- then you can play the game to your advantage.

In this lesson, we’re going to push that idea even further by giving you an
exclusive framework -- which we call the Social Capital Strategy Framework
-- to translate any opportunity into a set of relationships. This framework
will be your “social capital goggles” -- a sort of lens through which to see the
world.

It will also be a practical guide to help you navigate projects and opportunities
as they arise. If you follow this framework, you will always see the Matrix,
which will become a huge advantage in your career and in your life.

So let’s get to it!

Starting with the purpose of this framework.

The social capital strategy framework is a way to translate any opportunity --

whether it’s a job interview or an upcoming trip -- into a set of relationships
you can build to maximize your chances of success.

In that sense, it’s just like an action plan or detailed to-do list. We’re basically
breaking down big, vague opportunities into actionable steps. But for our
purposes, those actionable steps will ultimately be about connecting with
people. The outcome will be a relationships-roadmap for you to follow to
maximize your chances of success, whatever you do.

Now, that’s not to say that you won’t have to work hard to achieve your goals,
or that relationships are necessarily more important than process. Instead,
think of this framework as a tool to help you connect with the people
involved in your opportunities, so that your hard work can flourish with the
right relationships.

TRANSCRIPT 1 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

Before we jump into the framework, a few quick words on how

to make the most this lesson.

First, we encourage you to take it seriously. That means actually going

through the framework on your own, filling out each section, and developing
your own roadmaps. You can breeze through this lesson and think “Oh yeah,
I get it, relationships matter,” but you’ll get true value out of the exercise if
you complete it for your own opportunities.

Second, think of this as an ongoing exercise, not a one-time deal. Using the
framework to plan for an opportunity at the outset is great, but it will really
pay dividends if you return to it throughout the process. As you and your
opportunity evolve, the framework will too. If you do it right, your
relationships-roadmap will lead you to new opportunities, which will in turn
require new frameworks. Think of this as a fun, dynamic, ongoing process,
rather than a one-and-done activity.

And on a related note, the Social Capital Strategy Framework often works
best when you take a long-term view of things. As we’ve covered in previous
lessons, you have to build a network before you need it -- not just when it’s
necessary to achieve a goal. Our students have used this framework to chase
opportunities long before they actually achieve them -- in some cases, up to
six months or even a year. Why? Because when you view your goals as
relationships, you realize that goals take time and energy to truly achieve. If
there are certain relationships that are essential to achieving your goal, then
you’ll have to put in the time. This will not be true in all cases -- for example,
you might be able to land that job at HarperCollins on short notice, because
they’re explicitly hiring -- but it’s still true that you chances of landing that
gig would be much higher if you already had the necessary relationships in
place before you even applied.

Which brings us to the final note on using the framework: Everything we’ve
covered in this course up till now comes into play in this framework. We
won’t revisit old concepts, but we assume that you’ll apply them to this tool.

TRANSCRIPT 2 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

The principles of authenticity, generosity, curiosity and giving before you

take, for example, will make your networking based on this roadmap successful.
Teaching the framework can sound very results-oriented, and it is, but it
works even better when -- as we already discussed -- you take the long-term
view. Keep that in mind as we move through the lesson.

With that in mind, let’s dive into the Social Capital Strategy
Framework.

Starting with the opportunity.

The Opportunity is a one-sentence description of what you’re trying to
achieve, articulated as a simple goal.

“To become the new sales associate at HarperCollins.”

“To secure funding for my company from XYZ venture capital firm.”
“To ask my favorite author for an endorsement of my new book.”
“To create a monthly engineering meetup in my new city.”

Notice that these opportunities are more specific than a general goal, and
unique to a specific place, time, institution and role.

You might have the goal of getting a job in publishing, but this framework
will help you pursue the specific goal of landing a sales job at HarperCollins.
That means you might go through this exercise five or six times for different
jobs you’re chasing in the publishing industry. Even if there’s overlap in your
frameworks, the relationship-roadmap for each will be different -- which is
exactly the point.

It’s also important to articulate your opportunity as a concrete outcome.

That will make it real for you, and real for the people you connect with.

TRANSCRIPT 3 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

Remember from our earlier lessons that the why really matters in networking.
Having a clear and specific goal will give you a reason to build the relationships
necessary to achieve it. (The principle of giving before you take still applies,
of course -- but having a concrete purpose for meeting someone along the
way is perfectly acceptable, and often essential to kicking off the relationship.)

Next, write down every major step in the process of turning your
opportunity into a reality.
Here, you’ll want to break down your opportunity into its major practical
steps. Don’t get overly detailed -- this isn’t a checklist -- but don’t keep the
steps too broad, either.

For example, let’s say the opportunity you’re chasing is to secure funding for
your company from a venture capital firm called SocialCap Ventures. Assuming
you’ve already created a product, then your basic practical steps will be to:

- Create a pitch for the firm

- Send the pitch to the firm
- If you get invited to meet the team, then to] Prepare for the in-person
meeting with the investment committee
- Convince the investment committee to invest in your company

Broadly speaking, those are the major steps in securing an investment. You
can break down any opportunity in a similar way.

Now, if this were a traditional roadmap, we’d break each of those phases
down into crazy detailed action items, Microsoft Project-style, so we had a
clear guide on which activities to execute on.

TRANSCRIPT 4 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

We’re going to do something similar, but driven by people.

So let’s look at each phase, imagine some of the detailed steps, then decide
which people might be involved. This is the first step toward creating the
relationships-roadmap.

Now, there are two groups of people you’ll want to consider here:

People within the opportunity.

These are people who are directly and necessarily involved in your opportunity:
a hiring manager, an HR representative, investment committee members,
the author you want an endorsement from, and so on. These people are the
core of your opportunity. In fact, now that you can see the Matrix, they are
your opportunity.

But there are other relationships that will come in handy besides the core
players. These are the people around the opportunity.

People “around” your opportunity include all the people who might be of
help, in one way or another, but who are not immediately connected to the
outcome of your goal. These might include hiring managers at other
companies, friends, mentors, bloggers, current colleagues, and so on.

Now, let’s segment these people even further by labeling them with one of
three roles: decider, influencer and supporter.

Deciders are people who will directly determine your opportunity, probably
through a personal choice, like a vote or a hiring decision. You can think of
deciders as the “gatekeepers” of your opportunity.

Influencers are people who will impact or shape your opportunity, probably
through an endorsement or recommendation. You can think of influencers
as advisors to the gatekeepers and ambassadors for you.

TRANSCRIPT 5 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

Supporters are people who will not directly or remotely impact your
opportunity, but who will help you make the most of it, probably through
some form of personal assistance, like mentorship, advice, knowledge and
emotional support. You can think of supporters as your personal teammates
and advisors.

Most people within an opportunity will be deciders and influencers. Most

people around an opportunity will be supporters and influencers.

Finally, you’ll want to segment these people into two final categories: people
you already know, and people you need to know.
- People you already know are existing relationships that can help you
make the most of your opportunity.
- People you need to know are relationships you’ll want or need to have
to maximize your chances of achieving your goal.

People you know are obviously already in your network. If you’ve been
following the principles of this course, creating social capital on an ongoing
basis, and building your network before you need it -- then these people will
probably be willing to help you as needed. If these relationships are a bit
stale, then you know you need to revitalize them, using the principles from
module two.

People you need to know are people outside of your current network. For
these people, look to see if you have any common connections. (LinkedIn
and Facebook will be your best tools here.) If you do, then write the name of
your mutual connections next to this person’s name. (If you don’t, don’t
worry -- as we’ve said, mutual connections are helpful but not essential.)
You’re drilling down into the framework now -- this mutual connection will
become part of your roadmap at the end of the lesson.

TRANSCRIPT 6 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

Both groups of people -- those within the opportunity and those around the
opportunity -- and all three segments of people -- deciders, influencers and
supporters -- as well as both types of relationships -- people you know and
people you need to know -- are essential to maximizing your opportunity.

So why split up these people into so many categories? Why can’t we just have
a running list of the people involved in the process?

First, because categorizing people in this way will force you to think
deliberately about your relationships. It’s easy to forget people you know, or
to ignore the people you need to know, if you’re not thinking about them in
relation to your opportunity. Breaking down the opportunity into people,
and then segmenting those people by role and relationship, will highlight the
strengths and the gaps in your network. That will make it much easier to
build it up.

Second, because taking this inventory will help you prioritize your
relationships. A laundry list of people connected to an opportunity gets you
halfway there. A list of people connected to an opportunity in a specific way,
and with a specific role, will help you decide where to focus your social capital,
and why.

Third, because categorizing people will help you identify their unique
needs and interests, which we’ll turn to in just a moment.

And fourth, because segmenting the people who make up your opportunity
will help you track and deepen your connections. As an opportunity
evolves, you’ll find that people will change roles in your framework.

For instance, let’s say your friend puts you in touch with an associate in the
publishing industry, who then gives you some interviewing tips during your
job search. When you connect, he tells you that he’s friends with y our hiring
manager at HarperCollins. Just like that, he’s gone from someone you didn’t

TRANSCRIPT 7 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

know to someone you do know, then from someone around the opportunity
to someone within the opportunity, and then from a supporter to an
influencer -- all because you deliberately included him in your roadmap.

So in the People cell of the framework, next to each major step in the process,
write down the names of the people who will be involved, their relationship
to the opportunity, their roles, and whether they’re someone you know or
someone you need to know.

For example, in our four major steps toward landing an investment from
SocialCap Ventures, you might fill out the framework in the following way:

In order to “Create a pitch for the firm,” you know you’ll want to reach out to
your entrepreneur buddy Alex, who’s created a bunch of pitches for his own
companies. He’s a person around the opportunity, since he’s not directly
involved in your outcome, and he’s a supporter, because he’s helping you
become the best pitcher you can be. So you’ll write his name down, and
mark it with an “S.” You’ll do the same for Sandra, a VC you connected with
on LinkedIn a while back who offered to give you advice from time to time,
and Bianca, a designer who has a great eye for visual presentations. You know
all of these people already, so you write “in network” next to their names.

Jumping down to the step where you “Convince the investment committee
to invest in your company,” your list will be even more robust.

For example, you know that there will probably be three major decision-makers
in that meeting: Harrison, Kelly and Jacob, who are all VPs at SocialCap.
These are people within the opportunity, they’re all deciders, and you don’t
know them yet, so you’ll write them down and add a “D” and a “not in network”
next to their names.

You also know that Scott, a young associate at SocialCap who will review your
pitch and coordinate your meeting, will also be involved in the ultimate
decision. He’s not the main gatekeeper, but he will have a say in the outcome,
and could be a good champion for you. You’ll write down his name -- along

TRANSCRIPT 8 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

with anyone else who’s playing that role at the firm -- with an “I” and a “not
in network.” Facebook tells you that you have Paul, a friend from college, in
common. You also notice that you both belong to a young entrepreneurs
group on LinkedIn.

Meanwhile, your mentor, Brian, will be coaching you through your preparation,
pitch and follow-up. He’s supporting you personally, but he’s also been
friends with Harrison for years, and has offered to give him a call to check in
and offer a good word on your behalf. So he gets an “I” and an “S,” and he’s
already within your network.

These are just a few examples of how to translate steps in the process into the
people who are involved, then to categorize those people by their role in the
opportunity and their relationship to you. Use this summary to go through
this exercise in detail, imagining every single step, and every single person,
involved in the process.

Once you complete this section, you’ll have done something really important:
You’ll have broken down your opportunity into a social network. Just like
that, you’ve translated the dense code of a goal into the Matrix. Nicely done.

But as you know, all networking is ultimately about relationships, and all
relationships are about social capital. So the second half of this framework is
where the real work happens: figuring out how to create social capital for
each of the relationships that make up your opportunity.

And to do that, we have to identify the needs and wants of the

people involved.
This is actually a pretty simple process, but it’s absolutely critical.

For each person -- decider, influencer or supporter, within or around the

opportunity, either existing relationship or mutual connection -- write down

TRANSCRIPT 9 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

1-3 things they need or want.

These can be things they need or want in relation to your opportunity, or just
interests they have in general. Both are opportunities for social capital.

For example, Harrison -- one of the deciders at the venture capital firm --
has one very simple need: to find great companies to invest in. His need and
your opportunity line up perfectly. That will usually be the case for people
within your opportunity.

But as you do your research, you check out his Tumblr account, and discover
that he’s also avid snowboarder. In the back of his mind, he’s probably also
thinking about great snowboarding spots and fun ski towns to explore. That’s
a lower-priority interest, but it’s an interest nonetheless, and it’s definitely an
opportunity for some fun social capital.

Let’s look at another quick example. Brian, your mentor, has his own interests
here. As one of your supporters, one of his desires is to see you succeed. But
he has other interests, too, and they could range from finding new clients for
his coaching business to finding a great math tutor for his 10 year-old daughter.
His interest to see you succeed lines up with yours, but he also has needs that
fall outside of your opportunity.

For every single person on your list of relationships, write down 1-3 things
that you think they want or need. That’s the first step in creating a relationship.

The next step is figuring out how to meet those needs and wants,
by identifying the value you can provide.

This is another way of saying what kinds of social capital you have to offer to
meet these people’s interests.

For each person’s need or want, write down how, specifically, you can help them
achieve it. Think back to the three forms of social capital: people, knowledge,

TRANSCRIPT 10 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

and emotional support. Write down a possible introduction, an idea, an article,

a tip, or friendly gesture that might fill the gap. These forms of value will
become your ammunition as you navigate the process.

You’re doing the exact same exercise we’ve been exploring throughout this
course, but now we’re doing it in a more specific, results-oriented way.

Let’s quickly return to our two examples to see how that might work.

Harrison wants to find good companies, and he’s probably also interested in
his snowboarding adventures. Two needs, two opportunities to build social
capital -- so how can you satisfy them?

Obviously, building a strong company and nailing your pitch is the best way
of satisfying his immediate interest. But knowing that he also loves
snowboarding might inspire you to come up with a killer snowboarding spot
recommendation to share. You might mention it in the hallway after your
pitch, or include it in the follow-up email -- which is an easy but powerful
way to deepen a relationship beyond your pitch.

You can also enhance your relationship with Brian by thinking about your
mentor’s interests. Taking his advice to heart and making the most of his
guidance is the most obvious way of serving his needs. But introducing him
to someone who needs a business coach would be a great way to offer
additional value. Then, when he mentions in passing that his daughter needs
a math tutor, introducing him to your math-genius cousin is a kind and easy
way to help him look out for his family.

All of these are examples of value to write down next to each person’s needs.

Sharing social capital in these ways -- some big, some small -- is a way of
creating and deepening relationships, which you should already be doing
regularly.

TRANSCRIPT 11 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

But when you sit down like this to formally identify people’s needs and ways
you can meet them, you’re also maximizing the chances of achieving your
specific goal, like landing an investment for your company.

Meeting Harrison and Brian’s main needs is the most obvious way of serving
them while advancing your own interests. But looking out for Harrison’s
snowboarding life, and finding small ways to help Brian’s daughter -- these
might seem silly, and they kind of are, but they are exactly the sorts of social
capital that tip the scales in your favor, because they are exactly the sorts of
things we do for people we know and trust -- in other words, things we do in
relationships.

So as you go through this exercise, think about the Big and Important needs
people have as well as the Small and Random ones. And take both interests
seriously. The venture capitalist who connects with an entrepreneur on a
personal level will be more likely to invest and will have a better working
relationship. The mentor who finds that his mentee is also looking out for
him will be more willing to invest his time and energy.

The more specific, practical, and unique your forms of value are, the more
they will enhance the relationship, and the closer they will get you to your
goal.

Now you can start to see why it was so important to segment people by their
role. When you divide your people into deciders, influencers and supporters,
both within and around your opportunity, you can start identifying their
needs and wants relative to your goal in a very specific and practical way. And
when you start looking for ways of meeting those needs and wants, you’re
making your social capital unique to you, which enhances the value you provide.

So now that you’ve filled out this framework, what do you do with
all this information?
In short: You tie together your steps, your people, their interests,
and your value into an actionable roadmap.

TRANSCRIPT 12 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

As an example, let’s return to the step of the process where you convince the
firm to invest in your company, and see what that step looks like with your
relationship goggles on. Your framework for that step in the process should
look something like:

- Harrison
- Decider
- Not in network
- No mutual connections
- Interests
- Finding a great company
- Discovering new snowboarding spots/tips
- Value
- My company
- Snowboarding research

- Scott

- Influencer
- Not in network
- Mutual connections
- Paul (who, in turn, is:)
- Supporter
- In Network
- Interests
- Making partner at a law firm
- Traveling through Latin America
- Young Entrepreneurs Group
- Interests
- Bringing good deals to the firm
- Connecting with other young entrepreneurs
- Food
- Burning Man/other festivals

TRANSCRIPT 13 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

- Value
- My company
- My entrepreneur friends
- Restaurant recommendation in Palo Alto
- Lightning in a Bottle experience, college friends who go to
Burning Man
- Brian
- Supporter + Influencer
- In Network
- Interests
- New coaching clients
- Math tutor for Delilah
- Value
- College roommate who needs a business coach
- Jake, math genius cousin

And you’ll go through that process for every relationship that comprises
your opportunity. If you do it right, your list will easily have a dozen or more
relationships at every step along the way.

So, great! Now you have a list of people, their role in the process, what they
need, what you can offer, and your way of connecting with them. In other
words, you have all the pieces to tap into or build those relationships.

The final step in the process is execution -- pursuing these

relationships to achieve your goal.

As we discussed in the last lesson, relying on an established process will only

get you so far. Tapping into the relationships behind that process -- in
conjunction with the process itself -- is how you maximize your chances of
success.

It’s up to you to decide how you tap into those relationships. For some

TRANSCRIPT 14 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

relationships, like a supporter around the opportunity, the next step will be
reaching out and asking for help. For others, like a decider within the
opportunity, the next step will be introducing yourself and building the
connection.

So let’s imagine what executing on the roadmap might look like for a couple
different steps in our venture-capital example.

As you create your investment presentation, you reach out to Alex, Lance
and Steven. You explain your goal in raising funding for your company, and
how you’d like them to help. You send them your investment presentation,
process their feedback, and make your pitch as strong as it can be. You’ve
tapped into your in-network supporters, and used those relationships to
complete that step in the process.

Meanwhile, in order to land your pitch at the VC firm, you reach out to Paul
and ask for an introduction to Scott. You explain specifically why you want to
meet him and why you believe you two would have a productive conversation.
Since you know that Paul is making connections in the legal world and getting
ready for a trip to Honduras, you offer to introduce him to your attorney
buddy, and send him a couple recommendations from your trip to Honduras
a few years back. That’s your small way of saying thank you and exchanging
social capital as you ask Paul for the introduction, which he makes a couple
days later.

Now you and Scott are in touch. You exchange a couple emails about pitching
his venture capital firm on your company. He offers to review your pitch, but
also asks that you submit it to the firm’s generic email account for pitches, as
a formality. You do both, trusting that you now know an actual human looking
out for you on the other side of that process.

Let’s say that you get invited into the firm to pitch. In preparation for that
meeting, you can now use your framework to prepare more effectively. In
addition to creating the best pitch you can -- which is obviously your priority
-- you’re also thinking about the needs and wants of the people who will be

TRANSCRIPT 15 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

in that room. What are their preferences and concerns? What sorts of
companies do they like? What are their personalities? How can you connect
with them on a personal level as well as a professional level? What will you
say to each of them in your presentation? How would you like to follow up
with them after the meeting?

Whereas you might have just thought about the process of pitching, you’re
now thinking about the people who are driving that process, and using those
relationships to influence the outcome. That’s the premise behind the entire
framework.

In these brief examples, we’ve sketched the basic outlines of completing the
framework. In reality, your framework will be longer, more detailed and
more complex -- which is terrific. It takes time and effort to pursue an
opportunity in terms of relationships, but remember: that’s your job! The
energy you put in will be worth it, because this is the most powerful -- really
the only -- way of truly maximizing your chances of success.

I also want to remind you that the Social Capital Strategy Framework isn’t a
replacement for hard work, and it’s not an alternative to established processes.
Rather, it’s a tool to help you focus on the other side of the equation -- the
relationships -- which ultimately determine the results of your hard work.

So as we wrap up this lesson, here are some final thoughts on

the framework.
First, what we’ve taught you in this lesson will eventually become automatic.
The best networkers go through this exercise unconsciously whenever a new
opportunity arises. (In fact, they often stumble into new opportunities by
doing this exercise for another opportunity -- funny how that works.) If this
feels overly systematic and a little formal, that’s normal. But it will pay dividends,
so trust the process.

Second, use this framework in a way that best serves you. It’s a tool, a flexible

TRANSCRIPT 16 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

device, to help you translate the world into people. You can tweak it as you
need, and you can adapt it to your goals. Eventually, if you feel comfortable,
you might not even need the framework at all, and the exercise will become
automatic and unconscious -- like the best networking.

Along the way, remember that this framework should be an ongoing

process.

If you land the opportunity you’ve mapped out, fantastic! That means it
worked, and you’re probably on your way toward new opportunities, which
you can also capitalize on by filling out a new framework, and going through
the process all over again.

If you don’t land the opportunity you mapped out, then the framework has
still served a very important purpose. For one thing, it’s helped you develop
new relationships and strengthen existing ones, which is often more important
than the opportunity itself. For another, when you think of opportunities as
people, there really is no beginning and end, succeed or fail.

Let’s return to our venture capital example one more time. If Harrison, Kelly
and Jacob decide to pass on your company -- which happens all the time, as
we know -- then think about how much you’ve still accomplished by treating
your fundraising opportunity as a set of relationships.

First, you’ve met several new people, and reconnected with several old ones.
These are relationships that can thrive beyond your immediate fundraising
goal, if you choose to invest in them.

As they grow, they might revive old opportunities or create new ones. You
might stay in touch with Harrison, who decides to take a second look at your
company after a year of growth. Paul might remember that you’re looking
for funding, and, since he’s impressed by your hustle (and grateful for your
introduction), might turn around and introduce you to another investor. The
list goes on. All sorts of outcomes are possible when you view opportunities

TRANSCRIPT 17 of 18
MODULE FOUR : TOPIC 2 [Link] CREATING A NETWORK STRATEGY
[Link]

The Social Capital Strategy Framework

through the lens of relationships. Those relationships become more important

than the opportunity that gave birth to them, and give you more chances to
create social capital that will pave the way for even greater opportunities
down the line. Once again, that’s another reason to focus on your network
more than your results.

And finally, as we mentioned at the beginning of this lesson, you’ll get the
most mileage out of the framework if you use it as a long-term tool. In our
fundraising example, reaching out to Scott and Harrison felt a little utilitarian,
since we were trying to build those relationships only when we needed
something from them. As you know, that contradicts the philosophy of this
course.

But imagine what would happen if you sat down with this framework a year
before you needed funding for your company. You could map out each step
of the way, identify the people you’ll need to get there, and spend an entire
year building those relationships before you needed them. By investing in
those relationships by creating social capital, Scott would already be a personal
friend who’s been following your startup journey. Paul would be more willing
to make an introduction knowing how hard you’ve worked. You might even
be able to meet Harrison long before you walk into his conference room to
pitch. And you’d be doing all of that with no expectation of immediate
return, since you’re taking the long view of things.

So a great final thought on making the most of this framework is to begin

with the end in mind, then use the framework to work backward.

Ask yourself: Which relationships would I love to have in place before I

needed them? What do those people need right now? How can I offer my
social capital to meet those needs? What kind of connection would I like to
build, so that when it comes time to ask for help, my relationships will be
there to deliver, the way I was there for them?

That’s really the spirit of this lesson. And The Social Capital Strategy
Framework is your practical guide to put that spirit into practice.

TRANSCRIPT 18 of 18