Friday, November 2, 2018

20A Growing Your Special Capital

Person A: Domain Expert in Industry
Owner/Founder of Boris and Horton
1. The CEO and Founder of Boris and Horton has a background in entrepreneurship, charity, and dogs. He started an online charity business that raised hundreds of millions of dollars for other organizations, and also has had other entrepreneurial stints.
2. This person is a domain expert in the industry because he has created the only other company that has a similar idea to mine, and has great experience in the field.
3. I actually found him this summer when I was at Boris and Horton, and I had a chance to get his contact there because how interested I was in learning more about how he made this place happen.
4. I simply asked him a few questions on the phone - he was very helpful and wanted to let me know a lot about the business. I will repay him by returning as a customer next time I am in NYC.
5. I know that I will be able to rely on him if I have any questions when starting my own cafe similar to this, and that he would be a great contact to have when setting up charity events. He is a great entrepreneur.

Person B: Expert on market
Manager of local PetSmart
1. The local manager of PetSmart has always had a past with pets, specifically dogs. She also volunteers at the local Humane Society and actually plans on becoming a vet one day. In addition, I learned that she loves small cafes.
2. She is an expert on the market because she works at a pet store, and has an interest in the business plan I have. She knows what customers are looking for (in regards to retail products) from personal experience in the pet industry, and then also shares an interest in finding small cafes. She also has a dog, so she would be able to understand the business very well.
3. I walked into PetSmart recently to purchase something for my dog, and happened to strike a conversation with her. She was very kind and willing to provide opinions about different ideas I had.
4. I had a long conversation with her in PetSmart, and promised to keep her updated on when I start my business! She said she would love to help in any way she can.
5. I think that she will be a great contact to have because of where she works: she will be able to reach several different pet owners and would help spread the word of my business.

Person C: Important Supplier to Industry
Founder of LoveThyBeast
1. The founder of LoveThyBeast began in 2012 and was making items for her elderly dog. She has since created tons of bags and other products that would retail well in my dog cafe. She has a history of working in prop-design, and the first dog tote she made was black!
2. She is an important supplier to my industry because I can see myself retailing different goods from LoveThyBeast as an additional revenue stream.
3. I purchased a bag a while back for my pup, and then thought I would reach out and send a thank-you email. She responded, and after that I asked her to speak on the phone for a few minutes! She was very helpful and kind and gave me a great insight on what the business was like.
4. I asked her a few questions on the phone, and I hope to repay her as a returning customer for my personal use, while also including her products in my store one day.
5. I think that she will be a very reliable person to connect with when starting to supply retail products to my store one day - the products are high quality, utilitarian, and are made in the US! The products have a lot of different styles and will appeal to the market I am trying to target.

Reflection:
This experience helped me realize the importance of targeted networking, and how critical it is to hear good information. I will continue to keep this in mind through future recruiting events.



3 comments:

  1. Hello once again Melissa! I really enjoy reading your posts since I'm a dog owner myself. I can see that you really put an effort in this assignment by contacting really good people in this particular field. I think their advices can be very valuable to you and give you excellent feedback on what you need to be successful in this industry. Keep up the good work!

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  2. Melissa, I think you have found important people that helped you with essential information. Furthermore, I think these individuals can assist you and give you ideas and feedback about your business idea in the future. In addition to that, I found targeted networking of great importance as you did. Overall, I think you did an amazing job finding these people.

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  3. Hey Melissa. I think you found good people that are experts in your field. I believe that you can take a lot of useful advise from these people. I firmly believe that outside perspectives on someone's ideas are a good way to gauge how your business will pan out. Great work on this assignment, I hope to see your business come to fruition.

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