20A – Growing Your Social Capital

1.) One person most be a domain expert in your industry: I met this person who works in a chemistry lab in a large pharmaceutical company. I met hime through a friend of a family friend, so it was really just a matter of texting him for information and possible ways he could help. He was very happy to be able to give me help, he isn't really expecting anything in return. This inclusion could help me make sure I can get the best combination of chemicals and active agents into the reusable tips that I can use.

2.) One person must be an expert on your market: I have a personal friend who actually has a significant other and a family with a Diabetes, so this friend has a lot of experience in the market on how everyday lives could be made easier and less intense on their pockets. They are a telecommunication major, who really knows her way around a conversation and the market. She is a fellow classmate of mine a few semester's ago, and we just kind of talked it over and I managed to get a few interviews with people she knew with Diabetes. She really didnt expect anything in return, other than being able to be helpful in making a good product that can actually change lives. Including this person into my network can help get feedback many times faster than trying to wrangle people with surveys on the street or through mass emails, making getting more improvements out faster.


3.) One person must be an important supplier to your industry: I managed to get an interview with a manager at a supply facility at Arthrex. He was super nice and was glad that someone was interested in how the supplying of medical equipment. I met him through a friend of my mother who works under him. I basically just emailed him and we ended up getting coffee somewhere. He was super knowledge about with how his item( heart monitors) was assembled and tested. He seemed very interested in my product, though I personally didnt really enjoy him or his company. I do think he might want something in return, such a some equity or free stuff if this ever takes off. Including this person into the group allows for me to try and get prices for what people are paying versus what I can price things at.


Reflect: I think that connecting people who are networked with possible competitors is very important and to network with those people who are competitors as well. It was very different as I needed to feed them more information than I would usually try and give at say a normal social setting. I also cant just walk away  from them and never see them again as easily as it would be in a public event.