Growing My Social Capital

Domain Expert

1.     Background:  Greg is a certified personal trainer and has competed in several bodybuilding competitions.  He has 15 years of experience in the fitness/health industry.

2.     Position:  Greg fills the position as a domain expert because he has a wealth of knowledge as it relates to health and fitness due to his 15 years of experience in the fitness arena.  He is definitely a technical expert in helping people meet their fitness goals through various methods.

3.     Contact:  Greg is a personal friend that I have been knowing for about 11 years during our first military assignment in Azores, Portugal.  He is currently stationed in Japan and I contacted him through Skype.

4.     Nature of Exchange:  Greg provided me excellent feedback on the type of classes that typically attract a large number of people.  He also provided me with advice on choosing the right mix of workout equipment to effectively meet the needs of those not interested in fitness classes.  The return expectation is to provide feedback to him on the success of my business and any pitfalls to be mindful of when he decides to open his own gym.

5.     Benefit of Contact:  Including Greg in my network will enhance my ability to exploit opportunities in the industry by building a decentralized network amongst other fitness/health experts that he has within his own personal network.  This will give me access to a wealth of knowledge and information in this industry.

Market Expert

1.     Background:  Jess recently retired from the Air Force and opened a crossfit gym in Crestview, FL about four years ago while he was still active duty.

2.     Position:  Jess fills the position of a Market Expert by providing market research that he has previously conducted when opening his gym and any information he comes in contact with by being in the industry.

3.     Contact:  I found Jess through a mutual friend that we have that is also in the Air Force.  Me and Jess made contact via phone.

4.     Nature of Exchange:  Jess recently opened a gym and has experience with pitfalls to look out for and actions to take in order to ensure success of my fitness center.  He can provide market research on one of the most important aspects of entrepreneurship which is location as well as how to fund my venture, how to promote my fitness center, and share advice on developing the perfect price point.  Jess expects me to be another network contact for suppliers that I come in contact with that provide great prices on supplements and health foods that he can sell in his gym.

5.     Benefit of Contact:  Jess will be my most beneficial contact by giving me excellent insight on all I need to know when opening a gym and providing me with information that will help me avoid pitfalls that he had to endure and ensure my fitness center is a success.

Industry Supplier

1.     Background:  Jackie is my co-worker and has also competed in amateur bodybuilding competitions for the past 5 years.  He and his wife are Spark suppliers, which is a supplement manufacturer.

2.     Position:  Jackie will fill the position of Industry Supplier and he will fill this position by supplying me with Spark products at his distributor pricing to sell and promote in my fitness center.

3.     Contact:  I found Jackie at my job and we developed a friendship through our working relationship.  I made face-to-face contact with Jackie at my job.

4.     Nature of Exchange:  Jackie offered to supply me with Spark products at his distributor pricing in exchange for the opportunity to use my facility to conduct Spark presentations to educate possible consumers on the benefits of their products.

5.     Benefit of Contact:  Jackie can bring customers into the fitness center to buy Spark which may result in a gym membership.  Also, I have access to his distributor pricing.

Reflection

This experience will shape how I participate in future networking events by first thinking about the people closest to me to benefit from their knowledge, networks, and skills.  I have always thought about networking as venturing out and meeting people in the airport, conferences, or waiting in line at a restaurant but in the future I will think about the resources I have that are easily accessible.