Expert in the industry:
1. Who they are: James, a disk jockey.
2. How this person is a "domain expert.":
This person is a domain expert because he makes music in the electronic music industry, and he has experienced with drug use and also has friends who use the drugs too.
3. How I found and contacted this person:
This person is in contacts because he plays at the local Simon's club. I just asked him for a call.
4.The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?
I just asked this person what he thought about the market for my service, and if he thought it would be feasible. There is no return expectation because the conversation did not take up much of his time.
5. How will including them enhance my ability to exploit an opportunity:
Including them enhanced my ability to exploit an opportunity because they have a name attached to them that could get me into the industry in talking to Music festival organizers.
Market Expert
1. Who they are: Nick, an EDM music fan.
2. How this person is a "domain expert"
This person is a domain expert because he listens to EDM, the genre that has the most illicit drug use of any music genres.
3. How I found and contacted this person:
This person is one of my friends who listen to the music I like to listen to.
4. The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?
I just talked about the feasibility of my service and asked for his opinion. There is no return expectation because it did not take much time.
5. How will including them enhance my ability to exploit an opportunity:
This person could have friends who would be my future consumers.
Supplier.
Since my service is so niche, I could not find a connection that would supply the service. It is just a service and it is not a product to be supplied.
Reflect: I would like to say that any time I network with someone, I gain knowledge and experience in their respective industry and also I would have learned how to network better by being better able to come up with topics of conversations. The experience I take doing this networking will be used in my future events. This experience differs from experiences in the past because in the past, I never really pitch an idea or product to anyone.
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Duc,
ReplyDeleteI think that the first person you spoke to is an important person to have in your network. As someone who makes electronic dance music, he probably has the opportunity to speak with a lot of people that would potentially use your product. With these connections already established, he would probably be a great help in convincing these people to trust you with their drugs and not to get them in any trouble. Good post!
I understand that you could not find your exact supplier, but maybe you could ask someone like a vendor at one of these music festivals for some advice. They could probably give you some valuable information. The other sources you have chosen are good and I think will give you a lot of good information about your business and help steer you in the right direction.
ReplyDeleteDuc,
ReplyDeleteI think it was very important for you to find someone like Nick who is an EDM festival fan because this is someone who knows exactly what people are looking for within this market. I think that everyone you talked to was important but this was especially important because how are you going to know your market if you do not have someone like Nick who knows it personally. Great job
Hi Duc,
ReplyDeleteI think that your conversation with Nick and James will prove very helpful in making decisions regarding your service. James could prove to be a valuable contact that may be able to introduce you to the festival organizers. This could allow your service to be sold inside the venue and circumvent some of the concerns that you expressed in the past regarding your service. Good job on the assignment overall.
Hi Duc,
ReplyDeleteGreat job in finding different people from different backgrounds to explain their roles in your business. One thing that I could add to you post is by maybe looking into finding people that have more experience in the industry that you are marketing towards. This can help make your company more profitable as well as help introduce what you want to convey to others within the market sector you want to continue with. Overall great job.
Kaitlin
Duc,
ReplyDeleteInteresting choice of people to interview, did you try contacting netgate? Net gate is a popular DJ around gainesville he's a nice guy and DJs for a lot of my parties he also creates a lot of his music so could fill the supplier spot in your post. Net gate was featured on Barstool for being an 8th year senior and has been DJing for the whole time pretty much.
Great work Duc,
ReplyDeleteI believe your choice in experts was spot on. Having an actual Dj who has been around the game long enough to see all the good and bad will be very helpful as well as a fan who is most likely a prototypical customer as well. For supplier, since your service has a specific niche, it is hard to find one, but maybe get in touch with companies that make drug tests to see what pricing is like. Having a connection with these people will give you more opportunities and chance for expansion.