Have you noticed this:

- Guy Kawasaki launches a site and on its first day his site gets 261,214 hits.

- Jason Calacanis asks for feedback on a design idea for his site and hundreds of people contribute thoughtful ideas.

I can think of a dozens of examples like that where an internet entrepreneur who has social capital uses it to build a better business than an internet nobody.

Tara Hunt noticed this. She wrote a book about it called The Whuffie Factor. Whuffie is the word she uses to describe the amount of social capital you have.

I called her up and recorded a 42-minute interview that you can use as a seminar on how to build your social capital. We went through a set of clear steps that you can follow and I made sure we clarified each one with a real-world example.

If you're building an online business listen to this podcast. Then get the people you're working with to come here and listen to it. Your competitors already know this stuff. You have some catching up to do.

Oh, and get the book, because my conversation with Tara is like a seminar, but it's only an introductory seminar. The details are in the book.

"Right click" here to download this podcast (42-minutes)