Importance of Personal Development: Identity Capital

Importance of Personal Development: Identity Capital

Importance of Personal Development: Identity Capital

By Mark Spain Real Estate

One of the core values at Mark Spain Real Estate is to constantly grow and improve. We are relentless in the pursuit of self-improvement because our team strives to perform at the highest level possible. One key factor involved in personal development is accumulating identity capital. If you are wanting to stride confidently down the path of self-improvement, check out why identity capital is an essential part of the process!

If your path of personal development is calling you to a new, challenging career, contact us!  Mark Spain Real Estate is searching for dedicated individuals who prioritize the client experience. 

Defining Identity Capital

identity capital

At Mark Spain Real Estate, we place a high value on reading in order to further personal development. The Defining Decade is one of our most recommended books for people in their 20s.

Within this book, we explore a concept known as identity capital and how it impacts your personal and professional life. Identity capital is the accumulation of our personal assets. In other words, a culmination of things that make us who we are.

There are some parts of identity capital that are ‘tangible and intangible’ so to speak.  The tangible items are what you can say you’ve accomplished: degrees, schools, grades, clubs and jobs. The intangible items are your innate personality traits: how you solve problems, your empathy, introversion or extroversion to name a few. 

Identity capital functions as “adult currency”. It is what we use to “purchase” jobs, relationships and other things we find ourselves wanting in adult lives. Therefore, it is of the utmost importance to begin accumulating your capital as soon as possible.

Oftentimes, what triggers the need to begin accumulating identity capital is known as an “identity crisis”.

The Identity Crisis

Erik Erikson was a developmental psychologist who is most famous for coining the phrase “identity crisis”. The identity crisis is known as the failure to achieve ego identity during adolescence.  It involves confusion regarding one’s social role and a loss of continuity to one’s personality. As people prepare to enter the “adult stage” of their lives, they find themselves experiencing the “identity crisis”.

Like Erik Erikson, some will make the choice to seize identity capital during their crisis. However, many make the mistake of remaining in “disengaged confusion”. This is a state where people make no effort or choice to move away from crisis and begin accumulating capital because they are too afraid to take on risk. Without risk, there is no chance of finding the answers they are searching for in themselves.

In contrast, those who do take risk, emerge with higher self-esteem, stronger identities and are more realistic. Working in a position that offers no chance to grow or explore makes for a rigid and conventional life.

Accumulating Identity Capital

identity capital

The work we take on in our twenties has an inordinate influence on long term career success. It is important to never under-employe yourself. Continuing to move ahead will set you up for long term success. Before you plateau in the later stages of your life, work a job that will offer you the most capital.

Additionally, you can partake in things such as: identifying goals you want to achieve, stop delaying things you want to do and stop doing things you don’t truly enjoy.

The author of The Defining Decade has put it simply, “You cannot think yourself through life. You must simply do.”

Whether you are identifying new goals to accomplish or shifting careers, it is imperative you consistently work to accumulate your identity capital. By building your identity capital, you are leading yourself down a path of personal development.

Has your journey of building identity capital led you to a new career in real estate? Connect with us! Additionally, we are here to help you sell or purchase a home.