#1121 The Best ROI for 2024

 Dedicated to my good friend, the AMAZING Peter Chieco

It isn't gold, silver, crypto, REITs, S&P funds, T-bills, or maxing out your 401K. 

It is SC

Social Capital was first identified in 1916 by L.J. Hanifan, a school superintendent in West Virginia, who wrote to his fellow educators to urge the importance of community involvement for successful schools.

I bring it to you today because it is suffering the oxymoronic fate of being more critical and less valued than ever in my memory.

Most folks I know owe their current jobs to their use of social Capital. That is, they got the opportunity because of who they knew as much as for what they knew.

Today, with the advent of AI, the WFH economy, and the ubiquity of text and email, we need to focus specifically on what once was the standard. 

I have been blessed to participate in major fundraising activities that have raised tens of millions of dollars over the years. Never, not once, did I see an organization throw an ad on Linked In or Indeed to find an honoree for an event. We raised many millions because Stephanie knew Louis, who reached out to Jessica, who called Phil, who met with Claudia and asked her to be the honoree. Then Claudia called a few close friends to reach out to mutual contacts to buy ads and tables and contribute gifts for the auction. All of it depended on deep, personal connections, AKA people who were rich in social Capital.

I emphasize this today because it takes intention. Gone are the days when most folks belonged to Rotary, The Elks, or a bowling league. Membership in fraternal organizations is declining, as are community and after-work activities. The connections people used to make organically now take a focused effort—and it's worth it. My good friend Peter, wonderfully successful by any measure, once told me, "Networking like your life depends on it is one of the most critical components of success."

Post-Covid, our society is experiencing unprecedented levels of isolation. This isolation comes at a cost- the fewer people I meet, the fewer people I can tap when I need to meet Stephanie, Louis, Jessica, Phil, or Claudia. One of them could be pivotal in getting the deal, securing the financing, creating the event, or finding the specialist my Mom needs now.

Make an effort to make the call, have the coffee meeting, and attend the event. The ROI is tremendous, but the investment must be made upfront and continually, like dollar cost averaging, to yield a guaranteed ROI.

Own Your Sales Gene…