Sunday, March 20, 2016

Growing Your Social Capital

Person 1
1) Who they are and what their background is.
I talked to Josh a mechanic as well as a friend at the local Honda dealership who works on new cars for a living.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Domain/industry Expert - He fills this spot because he is a technical expert who works on new cars daily.
3) A description of how you found the person and contacted the person.
I know him because I would periodically take my car to the dealership get an alignment and since my car isn't exactly "normal" I would to watch and explain some of the aftermarket parts that are installed.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
He did me a favor by giving me feedback on ways to improve the idea and he didn't ask for anything in return.
5) How will including this person in your network to enhance your ability to exploit an opportunity?
I'll include him in my network so I can ask tough technical questions that may arise to help me stay ahead.
Person 2
1) Who they are and what their background is.
For my idea, it's basically any one who has a brand new car or is going to buy a new car. So, I chose to network with a co-worker who recently purchased a new car.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Market Expert - She fills the spot because she falls with in the category of a new car.
3) A description of how you found the person and contacted the person.
I found the person through work and asked if she would take a moment to give me feedback on my idea.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
They gave me feedback on my idea and the only thing they wanted in return was for me to try and bring this idea to life.
5) How will including this person in your network enhance your ability to exploit an opportunity?
Having her in my network will allow me to gain experience and new knowledge of the types of customers through her feedback.
Person 3
1) Who they are and what their background is.
Andrew, manager at the Honda dealership.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Supplier - Since my idea involves installing my product into new cars, I needed to find someone close enough that supplies the cars, so the dealership manager was as close as I could get.
3) A description of how you found the person and contacted the person.
I actually got lucky on my resent visit and ran into the manager and asked if he had a quick moment to talk about my idea.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
Again, he gave me some good feedback about my idea and how to improve it, as well as ways that I could possibly market my idea.
5) How will including this person in your network enhance your ability to exploit an opportunity?
Having him in my network if this idea became a reality. Would allow me to market my idea at his dealership possibly and also other Honda dealerships around the world.
Reflection - This experience has shaped how I become involved in future networking events, because I now have a better understanding of how to actually go out and target specific network opportunities for my idea. I would have to say it did differ because before I was just going out and networking and now I'm targeting a specific area like marketing, supplier and industry to get better results.

- William Garlock

2 comments:

  1. William,

    Nice post! However, it doesn't really seem like you went out of your way to contact new people, which is what I think was the point of the assignment. However, you seem like you have friends in the field already, which may be a better network than strangers! Like you said, I think this assignment will change how I act at future networking events. Great post! You can check out my post on growing my social capital here: http://taylertibbits.blogspot.com/2016/03/growing-my-social-capital.html

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  2. William,
    Very good job reaching out and finding the people that would benefit your business idea the most. I also want to compliment your organization of your blog post. Many people have long drawn out paragraphs that are hard to follow. The bullet/numbering strategy you used helps the reader easily follow each person. I would have liked to know a little bit more background however on your business idea.

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