20A - Growing Your Social Capital

Domain Expert:

1.     Who they are, what their background is:

·      Peter is an Administrative officer for TransLoc, which is the company that owns the RTS bus app called Rider

2.     How this person is a “domain expert”:

·      This person is a domain expert because the RTS bus app called Rider is my competitor. They are the unreliable bus app I have been discussion is all of my posts and my new app would compete directly with them. 

3.     How I found and contacted this person:

·      I simple googled “TransLoc rider mobile app” and was able to click around and found the number to Transloc and called.

4.     Nature of Exchange: What they did for me, what is the return expectation:

·      First, I explained to him my idea for a new app and then asked Peter a few questions I had prepared. He was able to answer all of my questions and gave a decent amount of feedback, but nothing crazy.

5.     How will including them enhance my ability to exploit an opportunity:

·      Including Peter or anyone else that may work at TransLoc, will really help me understand exactly what it’s like to own an RTS bus app. Since TransLoc will be my direct competitor I will be able to learn from TransLoc’s mistakes. Peter explained to me all about how they are hoping to improve the RTS bus app and what he thinks the future looks like for TransLoc. With this information and having contacted Peter I will be able to know exactly what to expect from my competitors, what not to do, and what works.

Market Expert:

1.     Who they are, what their background is:

·      Kalyn is a Publix employee. She is a cashier and works at the Publix on University here in Gainesville.

2.     How this person is a “Market Expert”:

·      She is a market expert because she is selling things to the same market I am trying to sell things to, which is students. The Publix on university is filled with college students all the time.

3.     How I found and contacted this person:

·      I simple went to the Publix on University (at a non-rush hour time. About 9am) and did my usual grocery shopping before work. When it came time to check out, I went to a line and had a conversation with the cashier (since no one was behind me it was the perfect time to explain to her my new idea and give her a little bit of my pitch).  She was able to answer a few questions I had prepared while she checked me out and we even continued to talk while no one came to her line.

4.     Nature of Exchange: What they did for me, what is the return expectation:

·      She answered all of my questions and gave me a better understanding of how hard it is to deal with college aged students. She said they are a tricky bunch to please and offered me some advice. She also mentioned that my new app sounds amazing and that she would use it in a heartbeat.

5.     How will including them enhance my ability to exploit an opportunity:

·      Including Kalyn and all the information I got from her will help me understand exactly who I am targeting. I figured college students were a hard batch to please but hearing first thing from her, how mean, rude and just hard headed they are will really help me. She has personally dealt with college students on a daily basis and will be really helpful if I decide to exploit this opportunity.

Industry Supplier:

1.     Who they are, what their background is:

·      Scott. He currently sells refrigeration units, but has some previous experience in helping develop and create an app for his company.

2.     How this person is an “Industry Supplier”:

·      He is an industry supplier because he has helped develop an app.

3.     How I found and contacted this person:

·      He is an old family friend. While searching on google of someone I could contact to fit this description, I remembered how beneficially it would be if I actually knew someone who had developed an app and who would be able to help me and meet with me one on one if I pursued this opportunity.

4.     Nature of Exchange: What they did for me, what is the return expectation:

·      Scott was able to answer a few of the questions I had prepared for him and helped me get a better understand of how developing an app actually works.

5.     How will including them enhance my ability to exploit an opportunity:

·      Since I had no idea about anything relating to how to make an app, Scott will be able to help me get started and get my app in the developing stages. Honestly, it was so nice being able to talk comfortably with someone I know and not feel embarrassed to ask a whole bunch of questions. I think he could really help me if I decide to exploit this opportunity.

Reflection:

Target networking was much harder than I thought. In future networking events, I will try a lot harder to pay attention to all the little details and make sure I give out my information AND get theirs in return. You never know who you can meet while networking or who their friends are. I will also be overly prepared and 100% ready for any questions someone may have. Lastly, I will make sure I really put myself out there and not be so nervous. This experience was definitely different from my previous networking experiences. In the past, I have been completely comfortable talking to people about what I want to do in life and what I’m passionate about. However, developing a new app is something I have never done and know NOTHING about. So, it was extremely hard for me to get in touch with anyone who I have met or really anyone in this business in general. I was nervous and although I have the business plan and an elevator pitch, I don’t really know anything about actually developing the app. With this said, it was really had to search and find people who fit the categories above and I had a hard time doing so.