Building Social Capital For Entrepreneurial Success

An overwhelming majority of the seven billion people in the world think that becoming wealthy is prerequisite for being happy. Hence if you cannot afford all the necessities of life at a particular point in time, you’ll have no good reason to be happy.

Contrary to this popular thinking, a 75 year study at Harvard, presumed to be the longest in history, revealed some opposing insights. See the video above.

Could it be true that our lives will always be doomed to misery if we don’t have enough? Or the reality could just be our mind playing trick on our life status and expectations.

Maybe it is just society that forced this and other such beliefs on us at a young age.

As advised by many veterans, the one way to protect your life against the extreme highs and lows that comes with active entrepreneurship is to get a secure job with good pay, benefits and promotional prospects. That is if you one of the few that are often qualified for such jobs.

However, we all know that these kinds of jobs are limited in supply regardless of the country you live in. So the security may as well exist only as mere illusions of good life.

For one reason, the only constant thing that had been proven to us time and time again is change.

An interesting question that comes to mind at this point is; could there be something else that makes human beings happy without being wealthy? That’s exactly what this 75 year Harvard study is all about.

Without doubt, you and I know that wealth does not consist of financial resources only.

In line with this thinking, 78% of entrepreneurs in a separate study (Informal Innovation: Entrepreneurship and Informal Communities) found that networking contributed immensely to their success.

Based on this fact, the implication is that people can as well have unequal access or possession of what some experts refer to as ‘social capital’.

Think about the early stage challenges of building a team, product validation, funding, marketing and difference that good relationships can make. Just like money, if you don’t have it you don’t have it period.

Specifically on happiness, here is what Richard Branson had to say:

Many assume that my business success brought me happiness. But the way I see it, I am success because I am happy’.

Now you know better – the relationship between good relationship and happiness, which is important for success, go put that knowledge to work. Take this away from here – relationships are bridges. Build more of it, and you’ll be better expensive sacrifices.