20A – Growing Your Social Capital

I did this assignment on the parameters of a future possible networking experience.  I have never thought about this before this assignment and now that I have, I realize that networking correctly could be the key to success, especially with a product like mine, where it could be sold in a store.  This experience allowed me to remember how important networking is and how I need to never stop putting in effort to do so.  I actually plan on reaching out to these people and sharing my idea, especially the last two--because I am not sure if I would be able to successfully reach my domain expert.  This differed from networking events I have been involved with in the past because I have gone to them in-person when they were more accessible to me such as career showcases at UF, but with this activity, I would have to make an effort to find out who they are, their contact and how to reach out to them/get them to reach out back to me.

Domain Expert: CEO of Alex & Ani, Carolyn Rafaelian

1) Who they are and what their background is.

Carolyn is the CEO of a bracelet brand that many people recognize, Alex & Ani.  I own several of these bracelets and so do my friends.  I know girls that wear them in middle school and adults who wear them such as my mom--but I believe majority of their market is similar to my own.  She is also the owner of a Vineyard.

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

They fill the spot of Domain Expert because the company creates bracelets that are a similar look to mine with charms that people buy based on what they like.  The difference between mine is obviously the purpose (clip for key) and each bracelet of mine can have as many charms as you want to add on vs. just one.

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

I found Carolyn's background by googling the company but I did not get to contact her.  I think her company might be too big for me to successfully reach out to her, but I always say "never say never."

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

N/A--We did not speak but if we did I would consider her favor just being to speak to me because her company is so large and so successful.

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

This would help me exploit an opportunity because I'm sure she knows several different jewelry suppliers and how to start your own jewelry business (and what not to do).  Talking to her and having her in my network would be an extreme advantage for a business like mine.

Market Expert: CEO of Copper Closet

Here is a link talking about the boutique: https://voidlive.com/running-successful-business-20s-copper-closet-taking-off/

1) I would contact the CEO of a boutique I regularly shop at in Gainesville (and online) called Copper Closet.  Her name is Danielle Dallas.  She is 22 years old and started the business in Jacksonville but it now has several more locations.  What makes Copper Closet unique (which I always think about but I didn't realize others realized until reading the above article) is that they reach their market on social media and allow people to vote on polls and give their feedback on what to see in store and they listen.

2) Dallas fills the spot of Market Expert because the market of the store is the same exact as mine: college girls.  The only people who generally shop here are college aged girls (and younger and older too) but they mainly target the girls at the schools in the towns where the stores are located.

3) I did not get to contact her but I found her name and background on Google and actually plan on contacting her possibly in the future.  I think it would be really awesome to hear about her journey.

4) N/A-but I imagine she is very busy so if I get a chance to talk to her I would be thankful.

5) This could help me exploit an opportunity because she could give me tips on how to start and run a successful business with a market we share and I could possibly sell my product in her store if she liked it.

Important Supplier: Bead All About It in Gainesville, Florida

1) Bead All About It is a jewelry store in Gainesville where you can go and buy different parts and pieces to make your own jewelry.  There are obviously many options when making your own jewelry for a business and most people would probably opt for a large manufacturer for time and money's sake, but I think something like this is beneficial when first trying to make example products and in the beginning when you aren't make a large amount of them.

2) I said supplier because they supply what I would need to make the bracelet.

3) I found them really quickly on Google.  I was looking for a large manufacturer and it did not occur to me to use a local store like theirs until it popped up on the recommended places which I thought was an even better idea.

4) Since this is a local place, it would be the easiest out of my three to contact the owner of, but I did not get a chance to.  Hopefully they could tell me about what went well and what hasn't gone well with their business and I could try to promote them to more people in exchange.

5) Having this person in my network would be good for me because I can't have a successful business without creating a product and I can't create a product without the kind of supplies that they provide.