Hello, and welcome to our six core lesson on networking. This is your chance to make connections to success. So pay attention. What we're going to do is go through a few things. But before we do, let's talk about our quote of the day, which is the richest people in the world look and build networks. Everyone else looks for work.

What does that mean? Those who are successful know that a strong network is a key to success, and you want to take that advice. Those who aren't successful, don't take the time to build and manage their networks. So keep that in mind as we go throughout this core lesson. Today, we're going to start off with what is networking and why I do it. It's a little different from our other lessons, because usually we'd start with the mystery question, but we're going to do that second, because in order to get to the mystery question, I want To understand what is networking and why is it important?

So after that, as I just said, we'll go into our mystery question number three, we'll talk about network building while in university. Now, this component is more specific to younger people who are just starting university or still in university, but it still applies. Some of this will still apply to you if you've already graduated from university, so don't worry, pay attention. Number four, I'll give you a networking assignment that you might find interesting. We'll see. And then we'll conclude with answering our mystery question.

So let's jump into what is networking and why do it? Well, networking is making human connections for the purpose of sharing ideas, building relationships, and helping and finding help in one's career. Networking can include simply talking to people people you meet at a party, or up to organize network events, such as industry conferences and seminars, networking can be all kinds of things. It's making these human connections. And these human connections will serve you in one way or another in the future. So the basics to networking involve, you guessed it, giving out your contact information, and collecting other people's or other company's information in order to build that network.

So here we are exchanging contact information. That's sort of step one. From there, once you've exchanged information well, now's the time to start building these relationships. The people in your immediate circle we want to branch out we want to meet friends of friends. We want also want to meet new people to add to our network. And over time, your small network will build up to something potentially global, who knows Whatever happens you want to expand and include more people with a variety of backgrounds into your network.

And of course, you'll want to manage that network over time. keep in contact with these people offer help to these people, and in return, you'll find that they will offer help to you. Let's talk about a word called capital. You might have already heard this word before. It's a common term in English. Of course, even more common in business.

Usually, capital is synonymous with money. But let's look at the definition. capital is wealth in the form of money or other assets. Now, capital is not only money, however, we usually think of it as money companies have, for example, working capital money that's around so they can invest in other things. Capital Management is usually money management. You might hear companies say we need more capital to support research and development.

This is all Money based usually, however, there's another term called social capital. Can you guess what that means? Well, remember that the word capital really means wealth, wealth in the form of what here. This is wealth in the form of something social, therefore, wealth in the form of people. You want to build, of course, your monetary wealth, you want to build your monetary capital, more money in the bank is always good, right? Well, we also want to build our social capital.

And over time, you'll see that your social capital feeds your money, capital, a good network will have an effect on your wallet and your bank account. So what are the benefits of having a network and continually managing and building that network? Well, maybe some of these are obvious. Maybe some of these will be a surprise number one, a good night. Work helps you find job opportunities. Remember, it's not necessarily what you know, but it's who you know, have you ever heard that before.

It's people that will open up the doors to job opportunities. Now, you might not get jobs from people in your immediate circle, but you very well might through people that you know, from friends of friends or friends of other friends. This is what can be referred to as the strength of weak ties. Believe it or not, the majority of job opportunities don't come from people that you know, well, but they come from people that you know, just a little bit, for example, friends of friends. It's an interesting social fact, too, not only does a good network help you find a job. It helps you keep that job and go up the corporate ladder.

It's good to have a strong network in your company as well and in your industry. So once again, It's not what you know, it's who you know, in your job and in your industry. Number three, it helps you get advice and support. When you know a wealth of people, a wide range of variety of people, you have the door to information that you would not usually be accessing more people means more information, and possibly better advice and better support. Number four, it builds confidence. You know, the more people we know and the better relationships that we have makes us more confident.

And confidence can do a lot of things. We are attracted to people who are confident and people give jobs people give opportunities to those who are confident, and a good amount of confidence will give you the power to strive toward accomplishing whatever goals you may have. Number five, new ideas and new perspectives. Again, a strong network A variety of people in your network will give you access to new ways of thinking new perspectives, which can help you in a variety of ways in the game of life. So social capital, you want to build your social capital, you want to build your network. That's why we're here today.

But before we progress on what to do about building your network, let's recap what we've talked about in this short section. Number one, we talked about what is networking, we talked about having social capital. It's the wealth of the people that you know, and the benefits of networking. So now you have a better understanding of what networking is, why to do it and the benefits. Let's go into our mystery question coming up in one second season.