According to a study conducted by IBM’s research group every contact within your sphere of influence should translate to a tangible $948 increase in your bottom line takeaway at the end of the year. Now I know what you’re thinking . . . let’s get a little LinkedIn crazy and add 500 new contacts with the hopes that the new contacts lead to your boss giving you a raise – not exactly!
According to Keith Ferrazzi, best selling author of Never Eat Alone and the founder of Relationship Masters, an association designed to help accelerate the relationship building process – your networks worth is associated with your “social capital”.
Your social capital correlatives to the individuals within your sphere that care about you hence why the addition of 500 relative strangers to the world could do more harm then good.
Keith’s studies from when he was the Chief Marketing Officer (CMO) at Deloitte have lead him to conclude that social capital can be attained through a Relationship Action Plan (RAP).
The key mantra being:
As individuals and organizations we have numerous objectives that tie into larger plans but along the way we don’t always have a people plan. Keith helps us ask the questions; what’s your people plan and how can you control its outcome? If the old saying is true, “show me your friends and I’ll tell you who you are” then Keith’s on to something big here.