Welcome to episode 2 of Entrepreneurs Growth Plugs Series. Today, I will talk about the 5 types of capital every entrepreneur must have to run a thriving career & entrepreneurial institution.
You will struggle, be weak if you are not building all these 5. Ready? Let’s go.
- Human Capital–People
You can test and validate an idea alone but you cannot scale or build an entrepreneurial institution as a one-man army. There’s a difference between an entrepreneur and self-employed. You have to intentionally search for the right team members, partners, customers, and other stakeholders who can help to grow the startup. Identify the kind of people you need to grow and find them.
- Intellectual Capital–Ideas & Information
To be a successful entrepreneur, intellectual capital is key. This cuts across from ideation, to getting access to relevant information, analyzing the information, making relevant decisions, and more. This is in Incredible capital for every successful entrepreneur. You need to intentionally build your mental muscle.
- Social Capital–Relationships & Trust
If you ask many entrepreneurs the most important capital they need, they will tell you financial capital. And year in year out, they struggle to raise this capital without success. You cannot raise capital from people you don’t have a relationship with. You cannot even raise capital from your family and friends if they don’t trust you. Dear entrepreneurs, let’s intentionally build our social capital–build relationships and trust. It’s simple; if you have weak social capital, you will never raise financial capital.
- Financial Capital–Money
Oh yes! The one many entrepreneurs think is the only one they need to succeed. But no, this is just part of what you need in your capital system to run and build a successful business. You will need to master the art of raising money. Note this, you don’t need money from third parties (grants, investors) to start a business. You need the money to grow (scale) a business.
- Digital Capital–Online
This is one of the most critical and important capital for all entrepreneurs. In this century, when a customer hears about you for the first time, they do two things: search on all social media platforms and the big daddy, Google. If you are not on any, you break their hearts and they lose credibility in you.
For some people like investors and potential partners, they ask or look for your website. Your online presence is your digital capital. Don’t joke with it. At AFA Designs Tech Firm, we have an incredible package where we help businesses to build an amazing online presence for their clients and investors.
To succeed, all 5 capital must be integrated and well developed. At COSDEF Group & AFA Designs, we work with you to build all 5.
When it comes to running a successful business, people, it’s more than just having an innovative idea and the money. It requires more. Keep building your entrepreneurial dream.
Book me now for your team (staff) results enhancement, business growth, personal productivity, digital/tech services, and more.
Call: +237 656-140-207
Email: javnyuy@cosdefgroup.com
Website: https://www.javnyuyjoybert.com.
