Social Capital Can Start Your Business

Many people ask me how we got our business started with hardly no cash cushion, investors, or loans. They look at our team page and usually are pleasantly surprised with the strong team of people G2N has built.

There is a traditional philosophy that a new business MUST start with a substantial amount of cash flow in order to be successful, but that has changed since the internet has become such a huge market for businesses. At Going 2 Natural, we are creating a business model for people who never thought they could start a business because they live for instance like us, pay check to pay check. I will be truthful, it is a huge amount of work and you do have to keep “your day job” so to speak in order to pay your personal bills. So in essence you will be working two jobs for 2-5 years depending on your determination.

It is also important to know you will end up spending a few hundred dollars in the beginning but it will not be at all the cost endured had you tried to start a store front business with out the social capital to survive.

I must reference Ray Zoller’s quote from his current blog, Many Hands Make Light Work which left me thinking.

“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.”

I was so impressed with this quote I actually posted it on my G2N’s intranet page for all my team members to ponder. In my opinion, there is no financial capital with out social capital, so why not concentrate on that first. In this day and age people are able to create online businesses with a very professional look on a minimal budget. Thinking outside the box is key!

I wrote an article, Organic Business Growth : Networking which gives an overview on how we started building our social capital with  spending absolutely no money. We had a vision and we networked and found people who had the same vision and goals we did.

Once we had a team to get started with, we were ready to build content and a plan. Creating a website for your business and blogging is vital regardless of the business you are in and social media platforms are a must! Of course having a cash cushion is always nice, but if you aren’t able to save one, there are ways to get your business started with out breaking you or your bank account. It will take longer to build financial capital this way but the stakes of your money being lost and the amount lost is much lower. The most you will lose is your time.  But if you are patient, have a realistic plan and willing to do the research and work, it can and will come together.

Here are a couple resources I have used personally when building social capital:

Craigslist- This is where I recruited some of my best team members(now share holders). I found and interviewed dozens of people who held the same passion that my husband and I did. We picked a dozen of people that we felt came from diverse backgrounds, but held the same goals we did and our team has been G2N’s driving force ever since.

Facebook- This is not just for your fans or customers. It is important to focus on liking, following, and supporting groups that are in your similar line of work or industry. In turn they will usually support you back. This is a great way to make connections and meet potential people you could do business with in the future.

Your University– I met many great people through my two degree programs and I use some of their contacts to this day. It is important to send an email every once in while if you think they will be beneficial to your business in the future. Keep your business fresh  in their mind while making sure you show interest in what they are pursuing as well. It is great to share support and have someone who shares the passion of entrepreneurship; because every business needs the basics and the more people you know the easier the job will get done.

The famous quote I continually live by which gets me through even my toughest days is:

If there is a will, there is way!

Do not give up. Think outside the box. Use the resources you have to create new business relationships and avenues that will further your brand along as you create your vision and business plan. No, this is not the way to make a quick buck. What it will do, is build a strong foundation, with a strong unit of people which will give your business the chance to built its brand without occurring huge costs or debts. You have a greater chance of maintaining control and eventually building wealth. The best of both worlds! So trek on my fellow entrepreneur and remember sometimes slow and steady can win the race!

Resources:

Wasserman, Noam. Chapter 1. The Founder’s Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup. Princeton, NJ: Princeton UP, 2012. N. pag. Print.

Zoller, Ray. “Capital Growth.” Capital Growth. N.p., n.d. Web. 07 Sept. 2015. <http://capitolgrowth1.com/2015/09/06/many-hands-make-light-work/&gt;.

Olenski, Steve. “Nearly One Third Of Online Consumers Trust A Stranger Over A Brand.” Forbes. Forbes Magazine, n.d. Web. 08 Sept. 2015. <http://www.forbes.com/sites/marketshare/2013/01/03/nearly-one-third-of-online-consumers-trust-a-stranger-over-a-brand/&gt;.