Our networks define our networth

"Our networks define our networth." The old adage that 'it's who you know not what you know' turns out to be scientifically valid.

Professor of Sociology and Strategy at Chicago Booth School of Business Ron Burt investigated what was the #1 predictor of career success. I asked this question to an audience last night and got many great answers such as grit, EQ, drive, determination, curiosity and many others.

All are very important but none more so than our networks according to Professor Burt. But not all networks are created equal.

It is not enough just to know lots of people. Career success comes from having both a diverse network AND actively playing a role in connecting these diverse people together.

Burt calls these 'open networks'. The future belongs to what Burt calls 'network brokers', i.e. those that broker relationships between the diverse people in their networks.