Formula for Success

Over the years, I have discovered success is powered by three things: know-how, reputation and a network of contacts. That's it. That's the secret.

The formula for success = your human capital (what you know) times your social capital (who you know) times your reputation (who trusts you).

You can take away all my money but if I can keep my smarts, my business relationships and reputation, I'll get it all back and then some. 

Having knowledge, social capital and trust is the ultimate security blanket in good times and bad.

 Wayne E. Baker: Achieving Success Through Social Capital: Tapping Hidden Resources in Your Personal and Business Networks

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Comments

[Kacy]

Thanks for sharing this formula.