20A – Growing Your Social Capital

1)               Domain Expert

John owns a small-time electronics store at down-town Miami where he sells different types of technological equipment and electronic repairs. I came in contact with him by calling the phone line I found on google maps and speaking to him about a course I was taking and if he could help me out on a project I was working on. He was more than happy to assist me and the following week we were on a Zoom call. He agreed to participate in my “interview” if he was one of the first to know when I made my idea come to life. John, lately, has been focused a lot on electronic scouters. Even though he does not make them in his store and orders using B2B marketing, he often lets his customers bring their own for repairs. He thus has a lot of background knowledge on electrical scouters and their potential components. I think that John will be of good use in figuring out the technical components of my project idea. I also think that his store in downtown Miami, will be a great first step to testing out my product and using it as a trial market release. I think it will take some time with Covid-19 going around for his store to have its usual demand but it will be worthwhile in the long-run.

2)               Market Expert

Nikos works for an industry that sells carry-on bags and suitcases in Greece. I met him through my family as my father has known him since they were kids. He agreed to help me figure out my specific target market and how to go about releasing my product and finding the right clients to sell to. He has a clientele compromised of middle-aged men and women, usually with a family and kids seeking luggage for vocations, or single men and women that travel for work. I told him about an idea I had of creating a product that would function as an electric scouter carry-on and he mentioned the technological obstacles I would have to succumb but also thought that it was a great idea. He had personally not heard of a product such as this one before and thought that it would be a success if it entered the Greek market.

3)               Supplier

Marcos supplies several carry-on bag and suitcase companies. Marcos works for a company that is focused on planning, designing, and B2B selling suitcases and carry-ons to several companies. Marcos’s company designs regular suitcases for companies but also focuses on an innovative and customized aspect of the business. Marcos also happened to be closely related to my parents and they always meet when we visit Greece and last time they did I decided to join them. Marcos ships his products all over Europe and said that he would think about helping me design my own model and supply depending on my business plan and dedication to the idea. He also agreed for me show him my elevator pitch in person next week.

Feedback

I believe that this exercise helped me not only develop my social capital and form necessary connection for my business idea to go forward, but also taught me the importance of network targeting and how it can play a key role to any idea I decide to move forward with.  

 


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