20A- Growing Your Social Capital

Domain Expert in your Industry:

I emailed the COO of SimpliSafe, Jeff Krinsky, asking about his job and his company.  SimpliSafe is a smart home security system for individual consumers.  He had just gotten the job last year, but had been in tech design at Amazon for a number of years before that.  He is a domain expert because of his reach with his business, as well as vast knowledge of the products and their price points.  I sent him a copy of my elevator pitch, just to see what he thought.  I was honestly pretty surprised when he answered, but he said that he really liked seeing stuff like that.  He gave me some market information, and encouraged me to pursue my passion- because this is an emerging industry.  I think seeking advice from people who are wiser than you is one of the best ways to learn.  I think keeping Mr. Krinsky in my network could help me understand where the market is moving, and maybe will give me some valuable critiques in the future.

Expert on Market:

I went and talked to Brandon Hapley, a Smart Home Tech Manager at a Best Buy here in Gainesville. He described what he did as “knowing how to expect what you can’t expect”.  He is in charge of ordering what products to have in the store.  He reads market research reports sent to him by Best Buy.  Then then from this he decides what they are going to sell, and teaches his employees about the products.  I gave him my elevator pitch, and asked him what he thought.  He said that he thought I was oversimplifying the market a little bit.  He said there are already discount online retailers that have well-established infrastructure.  He told that I should do some more research, but that he could also send me some of the market research that he has from Best Buy!  I think that this will help me immensely to understand the market and how to conduct this business in a changing market.

Supplier of Industry:

I emailed George Davidson, Regional Manager of a warehouse office for SmartHome: Home Automation Superstore about what he did.  His offices are located in Orlando, but they provide home automation products for stores and individuals all over the state of Florida.  He has worked at SmartHome for five years, and was promoted to manager two years ago. Much of what he deals with is selling and sending bulk purchases. He and his team usually deal with at least twenty deliveries per day.  I sent him a copy of my elevator pitch and asked him what he thought of the idea. It seemed like he really liked it, he told me if I ever wanted to come down to Orlando, he could let me shadow him and teach me a little bit about the supply side of things.  I think I will eventually take him up on this.  I think that would seriously help me understand the day-to-day work that will have to be done, and the market itself.  

            I have honestly not done much professional networking before.  While it’s still difficult, and it takes some time to find people actually willing to talk, it’s very rewarding.  I already feel more connected.  Before, I honestly felt kind of far from this market.  Now I know some people in it, and it doesn’t seem so abstract.  I think I definently will participate in more networking events.