Growing your social capital

As a reminder, I plan to offer a customized travel service that allows customers to immerse themselves in another culture through living with locals 
 Richard Barber 1.) The first person I reached out to was a consultant who worked for Thomas Cook. He was one of my old friends Dad's who lives in England. Thomas Cook is a travel company that offers travel services abroad. 
2.) Domain Expert - Richard is considered a domain expert because he works in an industry similar to one I would like to join. He helps people plan their dream vacations and customizes their options based on their wants and needs. 
3.) I found this person because he was one of my old friend's Dad. I still had his phone number so I gave him a text and set up a phone call.  
4.) I had a phone call with Richard, I asked him what he thought of my business idea and he liked it. He thought because I had a global network my start up costs would be lower, giving me a competitive advantage. He said the industry is very competitive but my idea is unique and it should carry me through. 
5.) Including Richard in my network will enable me to gain advice on how to market the business, how to develop professional communication with clients and how to set up the business in a professional setting. 
Rob Evans 1.) Rob is a graduate student who set up his own business starting a exchange program for students.He is from Vero Beach and is studying international business. 
2.) Market Expert - Rob is considered a market expert as he's targeting the market that I'm going for - young adults looking for life experiences. Rob was actually an inspiration to my business idea, and I added an element of uniqueness that his business didn't have. 
3.) I know Rob through my Fraternity. He was one of the older guys, I didn't know him too when but I heard about his business from some of my friends. I then asked them for his number and luckily he was down to have a phone call with me.
4.) I had a phone call with Rob. He told me his business has started off pretty well. He has made connections with people from the university he studied at in Madrid and has helped over 20 clients have exchange programs to the same university. He said hes struggling expanding to new universities. But hes developing a marketing program to reach more college students. 
5.) Having Rob as a social contact will be great for getting advice on reaching the larger groups of clients. He will be a great mentor for me, as hes already got an established business similar to the one I'm trying to start up. 
Issac Nowak 1.) Issac is a 27 year old graduate student studying software engineering. He is from Melbourne, Florida and is an ex marine. His services include creating customized apps and websites for business to advertise their services.
2.) Issac is considered a supplier for my business because every service business needs a medium to market their service and generate clients through bookings. 
3.) I know Issac because I played with him on my rugby team. I had his contact info from when we went on road trips together and he'd tell me about his business.  I just text his and asked if we could set up a phone call. 
4.) I had a phone call with Issac, he told me he'd be help me set up my app and website for no cost!! All I have to do is meet with him and tell him how I want it took look ect. 
5.) Having Issac as a networking contact is huge. His ability to make apps and websites through software is an huge asset, especially as we are such good friends, and he would do it for me free of charge. 

Comments

  1. Hey Justin,

    Nice job on your assignment! It seems like all of the people you reached out to really fit with your business idea. Like you said, I think it would definitely be helpful to talk to the guys who are already in the business that you want to be in. You can learn a lot from their experiences and figure out ways to improve upon those experiences for your own business.

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  2. Hey Justin,

    I think you did a really great job on your assignment. I think all of your sources were extremely impressive. I thought it was an interesting coincidence that your last source is from Melbourne, which is where I am from. This just shows how important networking is though, and how knowing the right people can be the difference between having a successful company or not. Overall, you did a really great job!

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