Growing Your Social Capital

Domain Expert:

1.    Edwin, a pet nutrition specialist at a local veterinarian office.

2.    He has extensive knowledge about which foods provide the most appropriate nutrients for pets and the best ways to consume them.  

3.    I called local veterinarian offices and asked about the best approach for my pet’s nutrition until I eventually found Edwin.

4.    I explained my business idea and asked for advice in regard to my approach, in regard to the types of ingredients and preparation of the meals.   

5.    Having Edwin in my network will enhance my ability to provide customers with sound knowledge regarding their pet’s diet and how it relates to their ultimate well-being.

Market Expert:

1.    Amanda, a local salesperson, specializing in products for pets.

2.    She has experience in working with pet owners to determine what organic products best suit their pet(s).   

3.    Amanda and her team have a booth at a local farmers market where they offer organic homemade dog snacks and accessories, including collars and leashes.

4.    I explained my business idea and asked for advice in regard my target audience and how much of a demand there really is, or in other words, how much people are actually aware/interested in their dog’s health/diet.

5.    Having Amanda in my network will benefit my business greatly, as she can provide me with an already conscious and interested customer base and also market my products to her customers.

Industry Supplier:

1.    Frank, a local pet food supplier, who has extensive knowledge about supplying local business with more freshly sourced foods.

2.    He travels around Orlando and supplies local pet stores with their orders of pet food.    

3.    Frank provides organic pet food to my local pet shop, and the owner was kind of enough to put in me contact with hum.

4.    I explained my business idea and asked for his opinion in regard to my business idea. He explained that there certainly was a market for it and explained that the delivery element of the idea would be very appealing to customers, as it would be taking his job one step further.

5.    Having Frank in my network will benefit my business greatly, as he can aid me in reaching customers who already have set their expectations on delivery.  

Finally: Reflect. 

·       This was a relatively easy assignment, as there are multiple communities in my local areas that are semi-conscious about the realities of commercial pet food and the dangers they pose, which provided me with great people to interview. Moving forward, I would take the same approach for networking, as it proved beneficial this time around. If I had a more rare/difficult to relate to type of product than I could foresee having to search around more.

Idea Napkin No. 2

Who you are? What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically, regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• My name is Michael and I would say my talents include critical thinking, decision making, and being able to connect with people on a personal level. These ultimately allow me to pursue my passion, providing help to those in need, in more than one way. As I said in my previous idea napkin, I can see this business playing a major role in my life, as it provides me with the opportunity to improve the lives of pets and their owners. As someone who has a dog, this business idea hits home, which makes it that much more important to me.

·       What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

·       This part of the business idea has not changed. I am offering a service for pet owners/pets, specifically dogs for to begin with, that provides them with the opportunity to better the livelihood of their pets. For most pet owners, the realities of the dangers commercial dog foods pose still remain a mystery. With my service, dogs will be able to thrive with fresh ingredients that are packaged and shipped directly to their home. The service will be affordable, convenient, and provide owners with a healthier alternative to the dog foods they usually purchase.

·       Based on the feedback I received, I realized the importance of providing customers with a hassle-free experience when it comes to ordering online, as that it essentially the basis of the business (convenience aspect). Also, I realized it would be beneficial to have various options for pet owners to choose from, in regard to the types of diets, as it would elevate the shopping experience and keep up with demand.

Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

·       This part has not changed much at all. The customers I am offering my product to are dog owners and local pet supplier stores. They are people who have become accustomed to purchasing their dog’s food from major chain stores that mass produce dog foods, with no real focus on ensuring the ingredients and preparation is safe for the consumers, or dogs in this case.

·       Why do they care? Your solution is only valuable insofar as customers believe it is valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

·       People adopt/buy dogs for a multitude of reasons, but at the end of the day, they are taking on the responsibility of providing and taking care of that dog. They take them to vet, ensure they are getting their yearly vaccines, and take them on walks. Dogs ultimately become a member of the family, and once people realize that the food they are giving their pets are doing more harm than good, they will be left with little to no option than to seek alternatives. That is where my business comes in and provides pet owners with the opportunity to change the lives of their pets. They will be able to see the difference in their pet’s health, as their coats will shine and their energy levels spike.

·       What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

• As far as I know, there is a relatively small movement of people pushing for more organic and fresh ingredients for their pets. Outside of that, majority of pet owners are oblivious to the health risks associated with the commercial dog foods they regularly purchase. I will market my business more aggressively as to reach a wider audience.

·       In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

• I believe all of the elements fit well together, as they all build off one another in at least one way. As I said before, they are all aimed at the ultimate goal of improving the quality of life for dog owners and their dogs. Furthermore, I still agree with my point from before, being that I feel like if I were to start marketing it to specific audiences, such as regulars at health food stores, it would more easily catch on, compared to me starting to market it to the general public.

Feedback Memo: 

1.    I included the point that I should do my best to ensure a hassle-free online shopping experience for customers, as it is the first impression. If I able to ensure connivence from the very beginning of the shopping experience, customers will be more likely to return and continue shopping with me.

2.    I also included the feedback about offering different types/styles of diets for pets, such as corn-free or salmon/chicken/pork-based meals. This will provide customers with more options for their pets, especially those with dietary restrictions due to health concerns.