Growing Your Social Capital - 20A

Domain Expert:

Carra S.- owner at my local gym

How this person is a “domain expert”: 

Carra owns three gyms in the area and has over 20 years of experience in the training and nutritional field.

How I found and contacted this person: 

I asked the lady at the front desk if I could speak with the owner, she told me the days she would be in, and I made sure to workout that same day.

Nature of Exchange: What they did for me, what is the return expectation: 

I explained to Carra that I was doing a school assignment about gym ownership. I didn't want her to think I was a competitor trying to steal ideas from her. She was delightful and answered all my questions. She even offered me a job since they are hiring! She recommends anybody wanting to own any kind of business to first work in the same industry to see if it's something they really want to do.

How will including them enhance my ability to exploit an opportunity: 

She gave me great advice on what to first to when opening up a gym. Since I met her face to face, and she was honored. I thought of her for my assignment, she will be a great resource in the future if I have any other questions or concerns. She knows exactly what it takes to get a business up and running, as well as the challenges it faces within the first three years of opening.

Market Expert:

Heather- fitness blogger

How this person is a “market expert”: 

Heather has been a fitness blogger for over four years. She knows the latest fitness trends and is always looking for ways to improve her health and shares them with her audience. She not only talks the talk but walks the walk too.

How I found and contacted this person: 

Heather is a friend of mine. I've been first hand how she's improved her health but changing up her lifestyle.

Nature of Exchange: What they did for me, what is the return expectation: 

She came over to my house, and we talked about her opinion on gyms and what she looks for when she works out in one. She's a member of a service that allows her to visit various gyms a month, so she can guide me on what she likes or finds useful when working out. She fits the millennial group I'm hoping to market.

How will including them enhance my ability to exploit an opportunity: 

She is someone who I value her expertise. She used to be overweight when she was younger and in the past five years, has become incredibly healthy and physically fit. She knows what it's like to lack the knowledge and motivation to workout, so she's a perfect resource to have on my side.

Industry Supplier:

David is a Fitness Equipment, Design, and Operations consultant.

How this person is an “industry supplier”: 

David works at Gym Source, a company that sells full range fitness products, gym design strategy, and delivery and installation services for gyms. He is the person I would call when I'm ready to open up my gym. He has years of experience and would help implement my vision safely and accurately.

How I found and contacted this person: 

I googled, "gym suppliers near me," and Gym Source was one of the top search results. I then went to Linked In and found someone with a title that would be useful for my research.

Nature of Exchange: What they did for me, what is the return expectation: 

I explained to David that I was not an actual customer but a student doing an assignment. We talked via email since he works out of NY. He was kind enough to respond back and gave me details on the whole purchasing process and what their company does. The email was short, but it opened up the lines of communication if I were ever to go through with opening up the gym. 

How will including them enhance my ability to exploit an opportunity: 

Before this exchange, I hadn't really thought about gym equipment. I was focused solely on the operations and marketing aspects of the business. But a gym without gym equipment is not a functional gym. Since my gym will have customizable gym equipment, contacting David was the best thing I could've done.

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?

Targeted marketing was easier than I thought and provided more value than expected. Finding experts in the field you want to get into is vital. I was lucky that all three people who I contacted were open and honest and willing to talk to me. But I know not everyone has the time to do so, so I was extremely grateful for their time. I believe network marketing is essential in whatever field you're in. Whether you're an employee or business owner, knowing the right person can be a huge asset. Even though it's scary to talk to strangers, the more you do it, the more comfortable you'll get, and people will most likely take an interest in your business and what you're selling.