Wednesday, July 10, 2019

20A-Growing Your Social Capital

Domain Expert:
1. This gentleman  is a business owner who has specialized in implementing mobility access for homes for over 20 years. He builds everything from ramps for homes to installing machines that help people with mobility issues get up the stairs inside of their homes. He was very open to my idea and encouraged it. He let me know that this is a business that does not see a large amount of competition and that the competition out there does not value the quality of their work.
2. This gentleman filled the place of my domain expert due to him owning his own company and his experience and expertise in this industry.
3. I found this gentleman through the social media platform, LinkedIn. I sent him a message asking if he had some time to sit down with me and go over a business idea I had relating to his field. He was more than happy to do this and I left the meeting very optimistic and encouraged.
4. The favor that he did for me was gave me some strong advice on how to start out slowly and then begin to grow as I get more clients. He also informed me to not rush any part of the business and to make sure I cover every step along the way. He did ask if I would be able to come along with him on one of his projects and if I could help with building a ramp. I don't look at this returning a favor because though I am working for free I will be getting hands on experience from a pro.
5. Having this person in my network is going to help me tremendously. I have made a connection with a business owner in the field I am pursuing. From our exchanges I can tell he will be open to giving me any helpful advice which will allow me to better my business and how I run it.

Expert:
1. The woman I spoke with a business development officer for a local business that helps senior citizens aging in place compatible to their specific needs. She has worked for this company for 15 years and has built a large portfolio by prospecting and finding clients for the business.
2. She is a expert in this field because she knows the Jacksonville market and what areas bring the most opportunity when working with senior citizens. She has been in this same field for 15 years and has learned how to prospect and then how to go out into the community and bring back business for the company.
3. I used the same social media platform as before. LinkedIn is pivotal for me in finding professionals in the same type of industry I am pursuing. I contacted her through a message and she responded within a day. I learned that most people who have been in a industry for a long time are more than happy to share their advice and experiences with you.
4. She was nice enough to meet with me for coffee and gave me a list of some of the areas in Jacksonville that have the most opportunity for my business. Since we are not in direct competition with one another I found this to be very generous. In return I did let her know that if I find clients that she does not have in her system that I would refer them to her for assistance with preparing them for living at home instead of nursing homes.
5. Having her in my network is such a blessing because with her being in business development she knows how to prospect and she knows how to seal the deal. If I can continue to get close with her and build a strong relationship I feel that she could be extremely beneficial in helping me discover new clients.

Import Supplier:
1. This part worked out perfect for me because my brother-in-law works for a company that supplies lumber and other supplies for those who work outdoors and do specific jobs on homes. He sells the products to customers that come in looking for specific items and he also knows how to make the products custom fit what the customer needs for their job. He has worked for this company close to 5 years and receives discounts and can also provide them to family.
2. He is a supplier because he works for a large organization that specifically supplies the type of materials I will need to complete my ramp projects.
3. I found him by knowing him for 10 years and him being my brother-in-law. It took a quick phone call and explaining to him my idea and the certain materials I would need and he was on board.
4. He lives in Ocala, FL so the exchange was done over the phone. At first you may think this is a downfall since he does not live in Jacksonville but the company he works for has a location here and he also can ship my pre-order materials straight to them for pick up. The great part of this connection is that he does not expect a favor in return. We are extremely close and this is his way of helping me out. He does not look at it in a way of what can you do for me.
5. Having him in my network is great because it will end up saving me a ton of money on the cost of materials. I will be able to purchase much higher quality materials at a much lower price. Due to me saving this type of money I can look forward to building capital and not having to worry about all of my expenses going into the cost of materials.

Reflection:
I have been networking for a long time through LinkedIn and also going to Chamber events in Jacksonville which has allowed me to meet with other professionals. It did not change how I will network in the future but it helped me realize that there are so many doors out there you just can't be afraid to step out and open them. So many people are willing to help you out and that is what I got the most out of this.

7 comments:

  1. Hey Garrett! Nice post! It's great to see that you want quality to be an important part of your work, rather than just quantity. I think that it is becoming more common nowadays to put quality ahead of quantity, so I think it's a good idea to start up your business and develop a reputation and a name, before others come with good quality work and start becoming known as well.

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  2. Hey Garrett,
    This is a great post and I think you did a great job identifying people to interview for this assignment. It is also very smart that you want to focus on the quality of your product because thats the most important thing.

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  3. Hey, This was a awesome post. You put a lot of time and thought into everything. I really enjoyed who you picked for this assignment. I thought the domain expert was a awesome choice. He has so much experience in the industry he provided a lot of useful tools for you.

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  4. Hey Garret, I really enjoyed how much effort it seems that you put in to making this post matter to you. It was great to see that you have already begun to network whether in person using your social capital that you have to make more or on LinkedIn, there are a ton of wayz to gt your name out there and make connections

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  5. Great post Garret. I can see you have really gotten into this future business of yours. I have always picked yours because i know you will have a great post. Great clarity on the people you have picked and you went really in depth.

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  6. Great post. i can see not only you but a lot of the people in this class have really started to get into depth with they business idea.

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  7. Garret,
    LinkedIn is an excellent way to network and connect with potential suppliers, distributors, and other business-related service providers. These individuals you met with can give great advice on starting a business. It is especially important to network with individuals who are familiar with the area that you are trying to start your business in (Jacksonville, Northern Florida), rather than a building developer from Rhode Island. You hit it right on the spot. There are so many doors out there to be opened -- you just can't be afraid to go out and try!

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