By Debbie Gregory.

Social capital refers to the connections and shared values between people that enable more cooperation and growth than one person can do alone. When you have taken the time to develop a wealth of social capital you will easily obtain any other resource that you need.

1.)  It Should be Natural Networking

Networking can be unpleasant for most people, but it is truly important to be successful. The best is to start small and be patient. Let the relationship grow naturally by being honest and authentic and show the people that you value them. Start with your own friends, family, and coworkers. Find others in your field that you look up to and connect with them. Just remember to be authentic – don’t put on a fake persona, eventually they will see through it and be less than pleased.

2.) It Establishes You As A Leader

Offering advice or resources to other people without expecting something in return builds trust and establishes your reputation as an upstanding person in your field. If the assistance is helpful, you place yourself as an honorable and knowledgeable person in your field.

3.) It Creates Strong Teams

Social capital is not limited to those who you know personally, who work with you, or those in your company. You can, and should, extend your network as far as you can. Nurturing a wide ranging network will provide you more resources to look to for solving a greater variety of issues.

4.) It Makes People Want to Help You

Once you have provided helpful support and advice to others in your network, they will want to give it back when you need the assistance. Most people genuinely like helping others – especially if they have been helped at some point by that person. Never be afraid to ask for assistance when needed from the network you are carefully creating. It you don’t ask, you don’t get.

Other tips to build social capital:

• Be honest and do not shy away from hard truths. People value honesty.
• Help connect others together.
• Contribute to debates.
• Actively contribute in your chosen field.
• Support other people when they need it.
• Help others in your network with their work.

As the saying goes – every entrepreneur needs three kinds of capital: financial, human, and social. The financial is easy – the other two take a lot of work. Take the time to build your social capital and both you and your Veteran or Military owned business will reap the rewards.