20A Growing your Social Capital

Industry Expert
Matthew Bartley- Family Friend
Matthew has a strong engineering background and uses his knowledge to fuel his expansion as a mechanic. He is constantly making new parts for cars and doesn't just do repairs. He focuses on turning mediocre cars into next level performance vehicles. Having a friend so proficient with cars will help me enhance my products to fit different manufacturers more effectively, and he will also see problems in his daily work that I may expand upon and make products to help him with.
 
Market Expert
Cynthia Leon- Friend of a friend
Cynthia works for a local company in Jacksonville that manufactures replacement parts for cars and motorcycles. I called her a while ago when I had my initial idea to get her opinion on easiest marketplace entry and have asked for help occasionally since then. By including Cynthia in my business scheme I will always have a reliable friend for advice, and in return we will share ideas and they may sell my products if it fits their selection.

Industry Supplier
Timothy Ingram- Close Relative 
Timothy works with an electronic company selling microcontrollers and other accessories controlled by such boards. Since the main hardware for my product is a microcontroller board, having Tim be a part of my scheme will allow me to get wholesale prices and also get the latest products before the competition. In return Timothy will get a share of my profits, numbers have yet to be discussed but after marketplace entry we will negotiate a fair price for his favors.

Reflection
In conclusion, it is relieving to know I have so many experts in my domain to go to for help. The road to entrepreneurship is a tough and scary one and I am very blessed to have such helpful friends along this journey. I will use my resources as often as I can while still remaining respectful and fair to them.

Comments

  1. austinhart24November 3, 2019 at 1:08 PM

    Gavin, you did a really nice job of finding people valuable to helping your business and explaining how valuable they really are. This shows you were able to conduct solid interviews and recruit quality condidates to help. I think your reflection could include a little more detail, but I feel the same way as you when it comes to the road ahead. It's great to know you have people there willing to help and play a role in your future success.

    ReplyDelete
  2. John CarlinNovember 3, 2019 at 3:28 PM

    Gavin,
    I'm quite impressed with the network you've created. Each of these people seems to be experts in their respective fields and could prove to be valuable assets in the future. Also, I like how you kept your network close. By close I mean that you didn't go talking to random people. Your network consists of family friends that care for you and want to help out. That's a smart business decision.

    ReplyDelete

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