20A – Growing Your Social Capital

1) One person must be a domain expert in your industry. This would be someone who's engaged in the same type of business activity as you would like to be. They may own the same kind of company that you would like to own, or they may be a technical expert who knows a lot about the kind of product or service that you would like to produce.

1) Who they are and what their background is.

Manager of Petco

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Domain Expert

3) A description of how you found the person and contacted the person.

I asked for the manager of the Petco I was in.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

The favor was talking to me, and after my questions were answered, I would leave her alone.

5) How will including this person in your network enhance your ability to exploit an opportunity?

This person would have a closer connection to the upper parts of Petco to get attention to the products my company would be producing.

2) One person must be an expert on your market. This would be someone who is targeting your market with similar products services -- or knows a lot about conducting customer research in your area -- or represents a major piece of your market (this might be most applicable with B2B markets).

1) Who they are and what their background is.

Salesman at PetSupermarket

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Market Expert

3) A description of how you found the person and contacted the person.

I walked into Pet Supermarket and asked a worker to talk to me about my products.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

In exchange for sharing my idea, he would give feedback on the validity and success of the idea.

5) How will including this person in your network enhance your ability to exploit an opportunity?

This person allows me to better understand the market of pet lovers.

3) One person must be an important supplier to your industry. This would be someone who is selling products and services to other organizations/firms in your industry. 

1) Who they are and what their background is.

Supplier for PetSmart

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Supplier: this is a supplier for PetSmart

3) A description of how you found the person and contacted the person.

Researched owner of doggo and found an email on their website. I sent an email to them.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

I have not received a response.

5) How will including this person in your network enhance your ability to exploit an opportunity?

They would allow me to learn more about how to supply to large pet retailers.

19A – Idea Napkin No. 2

1) You. 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?

The experience I have that is unique is my experience working in a small business. The small business is a semi-truck accessory retailer. My experience working there has enabled me to see a successful company culture that is more than just a few beanbags, a tennis table, and a snack cabinet. Culture is cultivated through going to dinner outside of work with your coworkers and talking about real life - not about what listings need to be updated. I am able to talk to whoever I wish to talk to because there is an open-door policy, allowing me to communicate my ideas or concerns with even the CEO whenever I wish. Because of this, experience, I believe I would have a better idea of what company culture truly needs and why it is important.

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

This company would offer unique dog products to consumers, leaning towards the walking parts of what dog ownership requires. This would include matching leashes, collars/harnesses, and poop bag holders. There would also be matching bandanas, accessories and shirts for the human to show off the bond they hold together. This solves the need of consumers who wish to treat their dog to a nice new collar and leash and themself with a matching accessory. Additionally, the set of items would make a great present for any dog owner.

3) 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?

All the customers have dogs in common - whether they know a dog owner or are a dog owner.

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

Consumers care because they want to have better pet products because they love their dogs and wish to show that through their treats.

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

My core competencies include my decent credit score, investment in real estate, and ownership of a very cute dog who will model all products at no cost.

All these elements fit together and do not contradict.

From the feedback from Paula about how I shouldn't describe myself as replaceable, I realized I should put more effort into considering what makes me different. I used the feedback to consider my experiences, relate them to our lessons, then I realized I had worked in an environment that the lessons strive to describe.

17A – Elevator Pitch No. 2

https://youtu.be/-kfoS7fZgIU

As a result of the feedback, I did nothing to improve. I did the video unscripted so I would be able to get on with the day and invest my energy in continuing to make progress throughout my day. If I were to do this again, I would make a script and have my toy poodle with me.

18A – Create a Customer Avatar

This is Jupiter Montego. She is a high school student who learned to cope with the stresses and anxieties risen by her advanced schoolwork by picking up jogging as a hobby. She wants to be a Pharmacist so she takes advanced chemistry and medical classes. Her family recently got a Golden Retriever and giving the dog exercise would improve the health of the dog as the dog gets older. The dog is named Stacy. Jupiter feels lonely because her best friend got a girlfriend so now Jupiter doesn't have as much attention from her BFF. As a result, she focuses more on Stacy because at least Stacy won't leave her for anyone. Because of this investment in her dog, she starts looking for accessories for Stacy to show her love.

What I have in common with Stacy is my love for my dog and my desire to deal with feelings of anxiety through exercise. We also like putting our focus into our dogs so we feel like the distance between us and everyone else doesn't matter as much. I very much based her off of me because I can't really imagine anyone else at the moment.

15A – Figuring Out Buyer Behavior No. 2

People usually do not put too much money into their pet products. They replace them every couple of years since they tend to get worn down and ratty. People tend to look for quality in their products, as expected, but not to the point of looking for the highest quality item. They wish for something that will last some years - not a lifetime thing. People tend to lean to something that is a prettier color, but when it comes to a dog that is a home dog, people would pick their favorite color of the options - but not base their decision on which collar to get based on sole appearance. An important part of their decision is how the item would fit the dog. Dogs have many different shapes and sizes, so sizing that fits all dogs is complicated.

People usually tend to either go to the store or use the internet to buy things. People who are worried about sizing would likely go to the store to judge it in person.

People believe they have made a good purchase based on the sizing on the dog and the length of time it takes until the product becomes ratty. 

16A –What’s Your Secret Sauce?

1) Describe five ways in which you think you have human capital that is truly unique. What is it about you, exactly, that makes you different? Write this up in a detailed list. 

1a) I have the ability to realize not being the best does not mean I can't win. I won't lie and claim I am immune to discouragement. I get discouraged by loses and even sometimes wins...2nd place usually seems to be what I earn wherever I compete. My main point is: I realize when people go home, they just want to relax. And I also realize by cutting out some of that relaxation time, I can improve myself and my financial security. For example, through my senior year, I applied to dozens of scholarships. While I lost most of them, I did win Papa John's scholarship and The Village's Autism Angels scholarship. Because of this, I believe my ability to recognize opportunity even when it cuts into my me-time makes me unique.

b) My ability to make fun of myself allows me to build confidence and make other people see me as humorous.

c) My ability to be a good dog owner allows me to bond with other people over my dog. Keeping her groomed and in shape, I was able to take her to work and share her with my coworkers. They all love Dixie - even people who never liked small dogs before.

d) I am aware other people have this ability, but I am able to type without looking at the keyboard or the screen. I remember typing up my teacher's words and he hated when I would look at him while he was speaking while typing. It made him feel uncomfortable (and made me laugh every time). He would come around the screen to see I was not making any typing errors. He would speak slower for me to type and would be confused when he didn't hear me typing: because I already finished typing what he was said.

e) I own a small business - even if it is so small I'm not sure if it can be called a business. I own a house and have put it up for rent. After this week's assignments, I will send a lease to someone who wishes to move in. I got the house in my Sophomore year of high school. I realize money isn't rare and really doesn't mean much to human capital, but owning a house at the age of 30 doesn't sound too bad.

3) Apparently I am an expert liar. I have convinced people that I am confident in myself and know what I am doing.

People seem to like me - but I guess I shouldn't expect my parents to tell the camera that I am a terrible person who messes up constantly. I didn't realize my mom would think so much of my artistic abilities. She had hoped I could explore being an artist of a sort. She wanted me to be a singer so she hired a voice teacher. I didn't know when she would think of me, she thought of someone with artistic talents.