Social Capital - A Thread
@jackbutcher put out a brilliant video on this topic yesterday. Here are my key takeaways after the video:
@jackbutcher put out a brilliant video on this topic yesterday. Here are my key takeaways after the video:
1/ Audience and Assets
The relationship between these two things is the cornerstone of social capital.
Social capital is the ability to create overlaps.
The relationship between these two things is the cornerstone of social capital.
Social capital is the ability to create overlaps.
2/ Example
@david_perell built an audience of people interested in learning how to write.
Audience as an asset-specific to writing.
An asset is a resource that can be built that benefits directly from continuing to grow the audience.
@david_perell built an audience of people interested in learning how to write.
Audience as an asset-specific to writing.
An asset is a resource that can be built that benefits directly from continuing to grow the audience.
3/ David is growing live teaching products.
Could create twitter growth products as well.
The writing product that David created overlaps with his audience. As the audience grows, so does the demand for the actual asset.
This creates longevity and ease of scalability.
Could create twitter growth products as well.
The writing product that David created overlaps with his audience. As the audience grows, so does the demand for the actual asset.
This creates longevity and ease of scalability.
4/ Kanye West is another example.
Created his audience as an asset.
Followed up by selling music, shoes, and even a presidential bid.
As his audience grows so does the overlap of interested buyers for his products. By growing his audience, he grows his business reach.
Created his audience as an asset.
Followed up by selling music, shoes, and even a presidential bid.
As his audience grows so does the overlap of interested buyers for his products. By growing his audience, he grows his business reach.
5/ @visualizevalue is another example.
Audience built by creating free design visuals. Then able to create the design fundamentals course as an asset to sell.
The overlap of the audience's interest and the product means as audience scales that interest in the product does too.
Audience built by creating free design visuals. Then able to create the design fundamentals course as an asset to sell.
The overlap of the audience's interest and the product means as audience scales that interest in the product does too.
6/ If you can understand where your audience's interest lies, you can create the content that attracts them. Over time that group grows larger and larger.
Figure that out by asking questions and measuring reception to different topics. Use Twitter to test.
Figure that out by asking questions and measuring reception to different topics. Use Twitter to test.
7/ This works for anything being built.
Social first and then use the social capital to scale.
The best part is that focus on creating value in writing, design, etc. will translate to the ability to monetize as secondary benefit. Do what you love and watch it grow.
Social first and then use the social capital to scale.
The best part is that focus on creating value in writing, design, etc. will translate to the ability to monetize as secondary benefit. Do what you love and watch it grow.
