20A - Growing your Social Capital


1)    Jim Loree is the President and CEO of Stanley Black & Decker which owns Bostitch. He is represented in my domain expert slot. I found the person through conducting research on google. I asked him about their acquiring on Bostitch and why they saw it as an attractive market. This will enhance my ability to exploit an opportunity because it will help me better understand the market from someone who has been in the business for a while.

2)    Gerry Smith is the CEO of Office Depot. He is represented in my expert slot. I also found this person by conducting research on google. I asked Gerry about the different brands of three-hole punchers they sell, and which ones do better and why. I am using Mr. Smith to figure out which brands sell the best at Office Depot and why they do i.e. (price, color, display, etc.).

3)    Mitchell R. Butier is the CEO of Avery Dennison and they focus on adhesive manufacturing. He is in my supplier slot. I am contacting Butier to figure the price points on wholesale three hole reinforces. I will most likely have to partner with another company to provide reinforces for my product and Butier could provide me with an estimate on price. Butier will help me figure out a price point for my product because I was unsure of how much providing reinforcers would cost.

Reflect:

I think this assignment showed me how to be more effective when creating a network. It is not always about meeting the highest number of people but finding ones that will benefit you like (domain expert, expert, and supplier). Also, when first contacting people making sure you include what you are asking and making it clear, so it is easier for them to answer.

Comments

  1. Bernard BynumMarch 29, 2020 at 10:13 PM

    Michael,

    I believe that all 3 experts that you chose are important people to keep within your network. As all of them are CEOs, they'll be able to provide you with the best advice possible as well as other connections to kickstart your business opportunity. I liked how Butier is able to help you figure out price points with your product and can possible partner up with you.

    ReplyDelete
  2. The Mainzer PostMarch 30, 2020 at 11:12 AM

    Michael,

    The three people you chose to reach out to are definitely a good addition to your network. This exercise is truly a great reflection of how easy it is for us to expand our network. In todays world, we have so many resources that we can take advantage of to meet new people. Based off your reflection I can tell that you received a good experience from this exercise.

    ReplyDelete

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