This paper is based on findings from ethnographic research which explored the impact of the Connexions initiative on the lives of young people. The fieldwork took place in three drop-in centres for young people, all of which were delivery sites for Connexions. Utilising the theoretical concepts of identity and self-esteem, it grounded this exploration in an understanding of young people themselves, their hopes and concerns, the aspects of their lives that are important to them, their sources of self-esteem and their means of support when they experience difficulty. This paper highlights the importance of social capital in young people's lives and acknowledges that Connexions has the potential to enhance this capital. However, it also emphasises the significance of existing social networks and the personal capital of young people themselves, which assists their forward movement. In addition, this paper draws attention to the limitations of Connexions targets that aim to reduce the numbers of young people "N"ot in "E"ducation, "E"mployment or "T"raining (NEET), a measure which fails to recognise the progress that certain young people feel they have made.