Growing Your Social Capital

1) One person must be a domain expert in your industry. 
  • I contacted Thomas Werner, he is my best friend's brother from home and he graduated from UF friend this past Fall. He did an internship with Aldis and now works at Anheuser Busch. He told me how Aldis work and also gave me ideas on how to do e-commerce with food. His major is "food and resource economics," so he knows what he is talking about.
2) One person must be an expert on your market. 
  • I spoke with Areli Jacobs, she is my sister, studied in London and even though she studied something not related at all with food, she did a market research on what college students look for today. There is a huge need for students that don't know what to buy to make food and how to implement good recipes in their lives. 74% of the students in that study agreed with that point of view. 
3) One person must be an important supplier to your industry. 
  • I had a talk with Sierra Roberts, she is an employee at Walmart. I wanted to find out how their e-commerce site was doing and how much of a profit it was for Walmart. After talking to her she said that the main issue with the e-commerce idea it was that sometimes the orders were wrongly managed and the customer had to wait even more time than if they just went and got it by themselves.
Finally: Reflect. 
  • My idea keeps being amazing according to the people I talked to. I believe the only thing I would have to be careful is to get everything on time and ready for students to have. I know is a new and different idea out there but people would use it if they had the opportunity for it. 

Comments

  1. Hi David,
    I love how you used your networking skills to get different perspectives on your business idea. Specifically, asking your best friends brother about his internship at Aldi and how he gave you ideas about to complete e-commerce with food. It is always great to keep networks like this open. This same individual could be a key pioneer in getting your idea off the ground. Overall, I would say keep expanding your network because they could be very helpful in the long-run.

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  2. Hey David great post. Good job on contacting three strong individuals to give you more feedback on your business idea and what you the market was like. I found this exercise very helpful because it gave me a perspective on my product and the different situations I would encounter. I was able to see the market from someone else's eyes.

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