Social Capital

A few months ago, I walked into the dry cleaners I have been using for over ten years and found a small Korean couple wearing identical glasses standing behind the counter. They both waved and in unison said, “Welcome to Beverly Plus Cleaners.” I wondered what happened to the owner, Willie, and asked where he was. They let me know that they had bought the business from him last week and that they would be serving me now.

I am not sure about you, but it’s hard for me to find a good dry cleaner. I started using Willie when I moved from the East Los Angeles, where I grew up, to the central convenience of West Hollywood, more than ten years ago. Willie has had been my dry cleaner for more than ten years. When I moved from Melrose and Fairfax to Hollywood and Fairfax a while ago, I looked for a dry cleaner on a closer corner, but eventually returned to Willie – he was so great.
After learning that Willie had left, I was a bit sad that he didn’t let me know and he didn’t say goodbye, and I realized a few things about business and life. I took my clothes to Willie because he did a good job, and because I liked him. He was a nice guy, and it felt good to give him my money in exchange for his services. I recognized how important the relationship was to me.

I know this isn’t groundbreaking business insight, but I think it’s something, in the complexity of our world and the complexity of current business solutions, that can be easily overlooked. As I explored the idea and importance of relationships more fully, I realized that I had huge value in relationship. My entire business plan and model is based on relationship and partnership. I spend a good portion of my time every day cultivating relationship, referring people, connecting people, passing along relevant information, and investing in the happiness and success of other’s lives. Interestingly, a good portion of these relationships are with so called competitors.

I recognize that I do this because it makes me feel good – it makes me really happy to see others succeed and do well. However, over time, I have realized that because of this I have cultivated a highly valuable resource in my network. Whenever something is needed, whether it is information, connections, clients, capital, or advice I have lists of willing providers and experts that are ready to assist me because I have invested in them.

All of this has me wondering, how’s your network these days? Are you investing in your network? Are you leveraging the resources of your network? Think of your network like stock or an account, you can only pull out what you put in.

When I founded Krama Consulting & Development, I was stepping forward into a dream and vision. I believe that successful business can be created based on partnership and relationship with everyone, including competitors. I have a dream that through partnership everyone everywhere becomes more successful and the world becomes a more abundant place.

As you consider your business and marketing strategy for this next year, please consider your network: there is a storehouse of value there waiting to be resourced. And, perhaps, it might make you feel really good too.