This week we are going to start building my social capital. What that means are people within my industry that I am networking with to help get my company going. With that, lets get started.
Domain Expert
Brad Burgeson is actually the son of the entrepreneur I interviewed. Tom mentioned how his son is really good with technology. We then connected and talked about my assignment and my business idea. Brad has created his own app before and said he would be willing to assist with creating my app. The only expectation he wanted was for me to keep in touch with him and continue to ask him about starting up a company. He mentioned how he wanted to start his own company and wanted me to include him in my idea. The app is half of my business idea, and having someone with the ability to help me set up an app is huge in both my marketing effort and expanding my customers.
Market Expert
My grandfather happens to be my market expert. My grandfather buys and sells used cars to college students and young adults. My grandfather says many of his customers are early in their career and want a cheap quality car. He told me he would be willing to help me promote my product to his customers and use his garage to store my watches as long as I mention his business to my friends at college. My grandfather will help me target my customers and store my watches, two things that are extremely helpful in a startup.
Supplier
Shaun Reid is an older brother of a friend of mine who had a business similar to mine but with signs. He would make signs that were unique and self working and rent them out to businesses to help them with promotion. I found him because I mentioned this class to some of my friends and he talked about how his brother had his own business. We then connected and talked about my assignment and my business idea. Shaun is able to help me because he deals with promotion all of the time. He really liked my idea and said he had space in his warehouse to hold and sell my watches. He thinks a lot his customers would be open to watches and loves pairing up with me. The only expectation he wanted was 15% of profits and for me to keep in touch with him and continue to ask him about starting up a company. He mentioned how he had help with starting up his company and he wanted to do the same for me.
You have a great support network established to help get your company up and off of the ground and moving. Having people who already have prior business knowledge there to help you is a big asset to have. They help guide you through each decision making process you have and they'll have their experience to help back decisions that are made. It's tough to really trust people that you don't know when you are trying to get your business off of the ground and going, and I would be leary of working together with another person, but at times it is essential.
ReplyDeleteGreat work this week. Here is my blog: http://niblaidoc.blogspot.com/2016/03/growing-my-social-capital.html
Hi Travis,
ReplyDeleteI think you did a great networking job. having the opportunity to be in contact with people that have prior experience than ours it is a something that have definitely have to take advantage of. I am glad to see that your contacts were very helpful and I hope you can implement everything you learned. here is my blog in case you want to check it out.
http://nataliagarcia2022.blogspot.com/2016/03/growing-your-social-capital.html