With the economy in a downturn, people are looking to build their businesses more cost-effectively. One cheap yet effective way to do this is to grow and manage your social network.

Many successful people got their start through key connections. Steve Jobs and Stephen Wozniak met at a summer job while teens. Abbot and Costello met at a bar. Will Smith got his start as the Fresh Prince of Bel-Air when he asked the vice-president of Warner Brothers for directions in a parking lot.

An easy way to begin growing your social network is to find people that sociologists call connectors. Author Malcolm Gladwell talks about connectors in his book The Tipping Point, and how important they are in creating trends.

These same people can also help build your social network.

Connectors come in two types - social connectors and value connectors.

Social connectors are people who are both highly social and socially savvy. They belong to many social circles and are often able to introduce people from different circles to one another.

Value connectors are people who have influence or access to scarce resources. This would include people like a well-known business leader (influence) or politician (access to scarce resources such as grants, permits, and the like).

To begin growing your social network, identify connectors within your social circle, and get to know them better by adding value to their life. Take them out to lunch, offer to help them with a project, or just invite them to grab a drink. The key here is to offer value to them without asking for (or even expecting) value in return. Be nice. Be genuine. Your relationships with them will improve, and your social network will naturally begin to grow.

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