Faye Best – Week 44 – Entrepreneurship & Networks

Faye Best – Week 44 – Entrepreneurship & Networks

Dear readers,

For this week’s blog I will have a look at the entrepreneurial outcomes which are realized by the use of a social network. Therefore, I will use the biography I had to read in the previous course. I chose Ryan Blair, who one’s was a gang member, but turned out to be a multimillionaire. He discovered many different opportunities, in which his network all played a major role. In the remaining of this blog I will try to explain two outcomes and I will link them to this week’s theory about networks.

Instrumental Goals
Instrumental goals are those goals that add something to your resource list. For Ryan this was mostly based on Status and Prestige. as compared to who he was before. Ryan was a gang member in his early years. A new member of his network helped him to get out of it and gave him an opportunity to be become a person with status. This new person was his stepfather, who was a well-known and successful businessman. The social resources that were involved in attaining this outcome were financial capital and political capital. His stepfather had money and status and Ryan could benefit from it. “I leveraged my stepfather’s name and volume in real estate to my benefit”.

After he reached his first goal and became familiar with this new kind of living, it went all pretty fast. His second life goal was to obtain a better job and therefore become wealthier. When Ryan was about 21 he got air from a promising internet company. Via his own network (and his stepfather’s) he came in touch with an angel investor. This new actor within his network wanted to invest in him and Ryan bought the internet company. Soon it went pretty bad with the company and the investor decided to help. No the relationship was not only about financial capital. “Suddenly, I had a business partner with more influence, clout, and capital than I could ever imagined”. They both did their very best and they could sell it with a high profit in the end.

Expressive Goals
Expressive goals are those goals that protect the resources you already have. For Ryan this was mostly based on mental health and mental support. During his youth Ryan’s biologic father abused him and his mother. The left the house and as a result Ryan got involved in gangs. After this violent juvenile he always needed some kind of recognition in his work. That’s why his social network was so important for him. Especially the really strong ties gave him mental support. Again it was his stepfather, but also his mother and the people with whom he started businesses with.

If you’re interesting in networking and you want to hear someone’s experience, I would recommend this biography to all of you!

Bye

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