Leveraging Social Capital: Building Networks That Sustain Generations

By Tsitsi Mutendi : Family Governance Advisor 🔹 Multigenerational Wealth Architect 🔹 Legacy Builder

The Bridge of Connections: Spanning Generations with Relationships

Imagine a bridge spanning a wide river. Each plank and cable represents a relationship, holding the bridge steady and enabling movement across time and space. For families of wealth, social capital is this bridge—connecting generations, businesses, and communities to create enduring wealth and influence.

The Abassi family, pioneers in international trade across the Middle East and Europe, is a testament to the power of social capital. Their success wasn’t built solely on financial investments but on relationships cultivated over decades with business partners, community leaders, and governments. These networks not only sustained their family business through market fluctuations but also amplified their influence in global markets.

Here are five strategies inspired by families like the Abassis to build and sustain social capital for future generations.

1. Cultivate Long-Term Relationships

The Abassis prioritized relationships over transactions, maintaining partnerships that spanned decades. By supporting their partners during downturns and sharing in their successes, they created a network of trust and loyalty.

“Social capital is the invisible wealth that grows with trust and generosity.” – Bessi Graham, Chapter 24, Raising the Baobab.

Practical Tip: Invest time and resources into nurturing long-term partnerships, focusing on mutual benefits rather than short-term gains.

2. Build Intergenerational Networks

To ensure continuity, the Abassis encouraged younger family members to engage with their established networks. They hosted events where their children connected with long-time partners, creating intergenerational bonds.

Practical Tip: Organize networking events that include younger family members to foster intergenerational relationship-building.

3. Leverage Community Engagement for Influence

The Abassis’ social capital extended beyond business. Their involvement in community development projects enhanced their reputation and strengthened their local ties, opening doors to new opportunities.

“Families that invest in communities build networks that extend far beyond financial returns.” – Joan Sharp, Chapter 9, Raising the Baobab.

Practical Tip: Support community initiatives aligned with your family’s values to deepen relationships and expand your influence.

4. Document and Pass Down Networks

Recognizing the value of their relationships, the Abassis documented key contacts, partnerships, and shared histories in a family ledger. This resource ensured future generations could build on their legacy.

Practical Tip: Create a family relationship database that captures key connections and ensures they are accessible to future leaders.

5. Adapt Networks for Global Reach

As their business expanded, the Abassis diversified their networks to include influencers, innovators, and policymakers in new markets. This adaptability kept them relevant in a changing world.

Practical Tip: Continuously evaluate and expand your networks to include individuals and organizations aligned with your evolving goals.

Social capital is the bridge that sustains families through generations, enabling them to cross challenges and seize opportunities. Families like the Abassis demonstrate that by nurturing relationships and passing down networks, families can create wealth and influence that endures. For more insights into building social capital, Raising the Baobab provides inspiring stories and practical strategies.

Tsitsi Mutendi is a renowned expert in family governance, with a strong focus on African family firms. As the co-founder of African Family Firms Expert, she has dedicated her career to advising and consulting family businesses and family offices. Tsitsi is a skilled facilitator, speaker, and author, known for her insightful contributions to the field. In 2023-24, she served as the President of the Professional Speakers Association of Southern Africa. Tsitsi is also the co-founder of Mutendi Montessori, a primary and secondary educational institution, and the founder of DanTs Smart, a technology and software development firm. With over 23 years as an entrepreneur. Tsitsi is a renowned multi-potentialite entrepreneur whose expertise has earned her recognition in leading publications such as Forbes Africa and Arise Africa, and she has been invited to speak on prestigious global stages, including the Athena40 panel. Her work can be found on www.tsitsimutendi.com www.nhakalegacy.com www.africanfamilyfirms.org and her trending podcast for families of wealthy and their advisors https://anchor.fm/enterprisingfamilies. You can Also get her book RAISING THE BAOBAB https://amzn.to/42cpFdL