"It's not what you know, it's what you know about who you know."

According to a report in ScienceDaily, "a study of the biotech industry has revealed that opportunities which arise, and whether or not they are exploited by biotechnology entrepreneurs, depends to a large extent on how well connected is an individual business person and how well they mobilise their social network. Photo by Ambro

"Cristina Sousa and colleagues at "INETI," the National Institute of Engineering, Technology and Innovation, in Lisbon, Portugal, explain in the International Journal of Entrepreneurship and Small Business that success is determined, not only by an entrepreneur's capacity to identify an opportunity, but also by their ability to mobilise resources and skills.

"An entrepreneur's established network and the ability to create new, useful connections is usually the key," the report says.

You might think this is nothing new. We all know networking is key to success in business (although its amazing how many people will still rely heavily on cold calling and advertising).

However, the major point here is that…

1. It's not what you know
2. It's not who you know

3. It's what you know, about who you know. Get it?

Really this is nothing new, but it serves as a timely reminder. It's amazing how often we overlook the obvious, like the importance of the quality of our relationships.

Being connected to a huge network has its uses. But being connected to a handful of influential people – who you get to know well and who get to know you well – can help you conquer the world!