20A – Growing Your Social Capital

1)    Who they are and what their background is.

The first person I contacted is a family friend who owns a seafood restaurant.

2)    Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Domain expert

3)    A description of how you found the person and contacted the person.

This person is one of my dad’s closest friends and my family eats at their restaurant all the time.

4)    The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

This person gave me advice on how to run a restaurant successfully. They gave me the opportunity of going fishing on a boat and learn how to catch fish. The return expectation was promoting their restaurant on social media.   

5)    How will including this person in your network enhance your ability to exploit an opportunity?

This person will always be there for me when I have questions about opening my own restaurant. They already have connections with other business owners as well.

1)    Who they are and what their background is.

The second person I contacted is a family member of mine who is a dentist. They went to the University of Maryland for undergrad and dental school.

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

3)    A description of how you found the person and contacted the person.

This person is my first cousin and we have a very close relationship with each other despite the age difference.

4)    The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

This person taught me how to create great posts on their social media accounts to promote their dental services. In return, I advertised their dental office to my friends.

5)    How will including this person in your network enhance your ability to exploit an opportunity?

This person gives me the best advice on how to succeed in college since they already completed their bachelor's and doctoral degrees. They have lots of experience which allow me to always learn from them.

1)    Who they are and what their background is.

The final person I contacted is my friend that started their own vintage clothing store.

2)    Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Supplier

3)    A description of how you found the person and contacted the person.

I’ve known this person my whole life. I went to school with this person since I was a kid. This person decided to skip college and start working right away instead. They got a loan from their parents and opened up a vintage clothing store that does very well. They make lots of profit from this store.

4)    The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

This person provided me with some awesome shoes and clothing that are limited. They expect me to provide them with products once I start my own business.

5)    How will including this person in your network enhance your ability to exploit an opportunity?

This person has connections with big companies, so I believe that having them in my network could provide me with opportunities that I wouldn’t be able to get by myself.

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events?

This experience will shape how I participate in any future networking events because I will make sure I take full advantage of meeting remarkable business owners and learn from them.

Did this experience differ from your networking experiences in the past? How?

This experience has differed from my networking experiences in the past because I actually learned from all of the people I contacted and it is important to gain new knowledge when starting a business.