We generally think of capital as wealth in the form of money, right? Well, relationship capital is a form of wealth too, but in this case, it’s wealth in the form of your circle of influence. This comes in the form of your immediate family, your friends, your employees, your mentors, your clients, your Facebook groups, your Mastermind groups, your networking groups and all of your social media followers. All of these people should belong on your ultimate “list” which is the gold mine of your business.
No matter what stage you are at in your life, what’s really important are your relationships. First, your relationship with yourSELF, then your relationship with your family, the people you live with especially your spouse, and then the relationships with everybody you CHOOSE to surround yourself with. “CHOOSE” is the operative word because if they are not family, we have the right to choose to have them in or out of our lives. The other important point is do not seek to please every single person you come across. If you do not align with their frequency, you do not feel good about their energy, or they just don’t say anything that aligns with your values, there is no need to make an effort to nourish that relationship. You cannot be best friends with everyone.
This is especially true in business.
What makes you a successful entrepreneur is not just about your product, your service, what car you drive, or how long you have been in business. It’s your ability to communicate and connect to another human. It’s your ability to speak articulately with the appropriate body language, deliver your thoughts in succinct sentences, and make people feel the emotions or understand your message deeper than on a surface level. This is why I created my course The Art of Articulation.
As I always say, friends first! I like to do business with people I like. When you know about their family and who they really are, you will get to the heart of things and discover if they have the competence or the smarts to become business partners, joint venture partners or even venture capital partners.
There’s a reason my motto with The Yes Academy is Confidence. Connections. Cash Flow.
I have built my business based on my relationship capital. I have increased it with more of the people on the level that I want and I have surrounded myself to learn from and invest with multimillionaires and billionaires in order to help my entrepreneurial clients become multi-figure earners themselves one day.
Of course, finding a mentor also improves your relationship capital. Your mentor should be someone you trust, who is about five years ahead of you and already where you want to be. Have them give you all their wisdom and introduce you into their circles of influence!
A great way to grow your circle is through networking. But networking well is a skill you must master. I spent my thirties dedicating my time to being a mother to my four children. Then in July 2016, I launched a brand-new business and I began to spend a majority of my time networking. This was an important pillar for my success. I showed up at every event I could. When you network, listen intently to what these people are talking about and get to know the names, stories and details being shared. Very quickly, strangers become acquaintances, acquaintances become clients, and clients become joint venture partners and good friends.
While you can’t physically go out to networking events right now, you can search online to find virtual events everywhere. The playing field has been evened out so you can even join events in other countries where you might be able to meet people you wouldn’t ordinarily have had access to. I just attended an event in Bangalore, India last weekend and was networking at midnight Pacific time!
Remember, people feel your positivity so when you exude good energy, your connections can be much more meaningful. And those meaningful connections are what grows your relationship capital exponentially.
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Born in Hong Kong, raised in England and now residing in Los Angeles, Didi Wong is an Award-Winning International Keynote Speaker, TV Producer, Business Mentor, Best-Selling Author, and Angel Investor.
Didi is the CEO of The Yes Academy, a results-driven educational mentorship program for entrepreneurs.
She was given the highest level award “Women of the Decade for Entrepreneurship and Venture Capital” from the Women Economic Forum as well as an award of Achievements, Recognition and Excellence by the National Council of Women from the Egyptian Government. She has also been honored to speak at the Global Entrepreneurship Initiative at the United Nations and she was the resident speaker on the Think and Grow Rich Legacy World Tour 2019.
As a TV Producer, she is the Executive Producer of “In Case you Didn’t Know with Nick Nanton” featuring Robert Kiyosaki of “Rich Dad, Poor Dad” and another TV show “SpeakUP”, both on Amazon Prime Video. She has starred as a guest judge on the #1 Digital business show “Elevator Pitch” as well as a feature documentary on her journey as a speaker called “Impact.”
Didi was given the Certificate of Recognition by Mayor Eric Garcetti of Los Angeles for helping women entrepreneurs succeed. She is featured in the article “Women Who Mean Business” in the current March issue of Oprah Magazine. In Fall of 2020, she will be knighted as “Lady Didi” where she will join the Royal Order of Constantine the Great and St. Helen of Spain to further the Royal initiatives both domestically and internationally.
Her superpowers lie in managing her four children under the age of nine, including a set of identical girl twins and all her projects and clients, always with a smile on her face.