Thursday, October 31, 2019
20A
Domain expert
1) I spoke with the manager of a local smoke shop named Nicole. She has a lot of knowledge about this industry and had been working in it for 20 years.
2) This meeting was in person.
3) Nicole will be a good mentor for me. She is kind and very easy to get along with. She can help me learn more and is a nice person to know, because as manager she orders the products they sell.
Supplier
1) I spoke with a man named Steven, who has his own vape product.
2) I went to a local farmers market and found someone who sells organic vapes and CBD cartridges. I spoke to him in person, because a friend had recently mentioned his booth to me. Although he doesn’t sell to many retailers, he has gotten his product in a few stores in Ocala.
3) By having Steven in my network, I can learn more about the market. He can help me establish myself and give me important tips.
Market Expert
1) I visited Omar, the owner of a local smoke shop
2) It is a very popular smoke shop, so I just stopped by and asked to speak with the owner, who orders all of the vape products he sells
3) I can exploit this opportunity because now that I know him and that he likes my product. This gives me a potential outlet to start selling at.
For each person I asked if they would meet with me to discuss my idea further, and in return I would take them to lunch. This was a valuable way to do things because lunch is a casual setting, and I was able to learn from each of the people I chose. They got a nice meal in return for their advice/guidance on my idea and my pitch.
I think networking is such an important part of starting a business. We all know its not what you know, its who you know. This activity forced me to get out of my comfort zone and allowed me to make connections within the industry. Now I will have the confidence to attend other networking events and will know how to hold myself In a professional environment. I have never networked before, so this was a foreign experience for me.
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Hi,
ReplyDeleteI think that it is good that you have gotten to talk to two business owners that sell vape products and a maker of vape products. Because, they have direct knowledge of how the market works. Especially, because you are talking to people who work in your original market area. I think that all you should try and consult someone who works with nicotine patches or other products that smokers use to quit, so that you can get a well-rounded understanding of your customer’s needs. But, your current interviews are great and helpful.
Hi Gabrielle,
ReplyDeleteThis is a great analysis of who you need to know to succeed in the business. I'm most interested in Steven, someone who actually has experience in your niche and can help you gather information on your target audience, and how to reach them more effectively. This market is interesting and I believe with a bit of testing and research you can make it a huge hit.
Hi,
ReplyDeleteGreat job on your analysis of your business social circle. We have the same topic so it's nice to hear someone else's view point on it. Having connections is a major part in becoming successful in the business field as they will guide you and help you become successful. Keep up the good work.
Hi Gabrielle,
ReplyDeleteThe strategy you've used in order to have a quality interview with those experts is very effective. Inviting them for a lunch would not just help you to get more information during the lunch, but also it made them feel respected and would be willing to help you in a long-term basis. These interviews and connections would definitely help you to start your business with a more comprehensive insight into both supplier and market.
Hi Gabrielle,
ReplyDeleteYou did a great job expanding your network and really putting yourself out there! From this post I can tell that you learned a lot more about this market and that you are excited for the next steps! The people that you chose to speak to about your product were perfect for providing insight about the consumers of this market. Great job reaching out to people and seeing out your opportunities!