• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

JAFFER A’ITA JOEL: Why social capital is more important than financial capital

You see, when you’ve developed a wealth of social capital, you can obtain any other resources you need

watchdog by watchdog
4 years ago
in Conversations with, Op-Ed
5 0
ShareTweetSendShare

They say every entrepreneur needs three kinds of capital: financial, human, and social.

Financial capital is the funding you need to get off the ground, sustain growth, and develop operations. Human capital is the team that brings value to your organization. And while both are essential resources for your business, social capital — the connections and shared values that exist between people and enable cooperation — is the key to entrepreneurial success.

You see, when you’ve developed a wealth of social capital, you can obtain any other resources you need — whether that means gaining investors, recruiting experts, or building your team with the best of the best. Even if you’re earning millions of dollars and have a great team, though, without a network of supporters, the first bump in the road may just send you careening into a ditch.

Here are four reasons social capital is the most important resource your business has:

1. It Establishes You as a Leader

By offering advice or resources to others without expecting an immediate benefit, you cultivate social capital. Giving to and supporting others builds trust and establishes your reputation as an upstanding person who is skilled in your field — two qualities that are critical for buyers looking to engage.

To build trust in your network, do the following:

~Become an active contributor to your field.
~Provide value to your network via social media and in-person events.
~Contribute to dialogue and debate.
~Share the work of others with your network.
~Support others’ endeavors when they need advice or support.
~Be a person who adds value to others by connecting them to people who may help them.
~Be honest with your team. Refusing to hide even the toughest truths will earn the trust of the people closest to you.

2. It Fosters Reciprocity

After you’ve provided wisdom, support, and connections to others in your network, you can begin to count on those people when you need support.

3. It Creates Stronger Teams

Social capital doesn’t simply exist external to your organization. You can also build strong, honest, and mutually beneficial relationships within the walls of your company. And by so doing, you make sure you can count on your people to have your back when the time comes.

This internal social capital is nurtured within your walls every day, but it’s also fed by outside relationships. For example, providing quality internships for local graduate students has led to a tremendous increase in our quality of intern applicants. The universities want to send us their top people in return for offering these positions and providing quality experiences; it’s a win-win.

4. It’s Natural Networking

Traditional networking can be uncomfortable at best and outright torturous at worst. Mark Schaefer is a great example of someone who has fun while building social capital. He used Twitter to completely bypass traditional networking while growing his network online.

To enjoy all the benefits of social capital, though, you have to build it. Start by seeking expert advice in resources like the Social Capital Building Toolkit. Then, more importantly, be patient and let your relationships mature organically. Be honest and authentic, and show that you value others.

So don’t limit these kinds of pleasant and supportive relationships to your personal life. Make the investment in building your social capital, and both you and your business will see the benefits.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
Share1Tweet1SendShare

Related Posts

Richard Musaazi
Conversations with

RICHARD MUSAAZI: Terrorism: We cannot wage a “war on terrorism”, yet war itself is terrorism

13th June 2025 at 10:59
Dr. Ayub Mukisa (Ph.D.)
Conversations with

Dr. Ayub Mukisa: Karamoja: A beautiful region with resources, but defined as a champion of poverty, scarcity and underdevelopment

12th June 2025 at 14:32
Hon. Babirye Milly Babalanda
Op-Ed

PHILLIP R. ONGADIA: The rise of Hon. Babirye Milly Babalanda gives Buyende a new face 

12th June 2025 at 12:53
Next Post

Uganda should respond with sanctions to resist western foreign interference

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1062 shares
    Share 425 Tweet 266
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    26 shares
    Share 10 Tweet 7
  • Makerere University Don on the spot over fraudulent acquisition of land

    29 shares
    Share 12 Tweet 7
  • Pastor Bugingo Seeks Reconciliation with Teddy and Children, Prays for Makula’s Twins

    15 shares
    Share 6 Tweet 4
  • ‘Age is just a number’ comes true as NRM’s Hajji Kigongo formalizes marital status with pretty girl

    116 shares
    Share 46 Tweet 29
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

President Museveni rallies Ugandan diaspora to invest back home

14th June 2025 at 22:59

Why Annet Nabirye is the beacon of hope for Luuka’s progress

14th June 2025 at 19:58

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is set to speak at business forum in United Kingdom

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

President Museveni rallies Ugandan diaspora to invest back home

14th June 2025 at 22:59

Why Annet Nabirye is the beacon of hope for Luuka’s progress

14th June 2025 at 19:58

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda