Domain Expert
The domain expert I utilized in this exercise was a small
business entrepreneur I met at a local networking session prior to the medical cannabis
legislation laws. The individuals background is that of online business owner. They
would be considered a social influencer and has organized pop-up shops around
Central Florida at various Caribbean social events. Prior to this, they owned a
health insurance brokerage business.
This individual fills this slot as they are experts in the
related market industry and are currently thriving. Their social media
following is in the upwards of tens of thousands and they are currently selling
merchandise related to the industry and providing education.
This entity and I share referrals. They also have several
unrelated businesses. As such they relay interested real estate interests to
me, and I send parties that need home inspections or pest inspections to them.
Having this entity in my network assists as I am unfamiliar with
the actual social network of those that indulge in cannabis.
Market Expert
I have also created a relationship with a business to business
broker. While not completely related to the market I am looking to gain entry,
they are very familiarized with the sale and purchasing of commodities and how
to valuate them. I met this party some time ago when brokering a gas station
business to client.
Our relationship is built on commissions. I send them clients in
need of business valuating, purchasing or selling, and they gain a commission
off of the assistance. I also receive a stipend from the transaction.
Supplier
My domain expert would also be my industry supplier. Until I am
able to find an engineer to create the actual air cleaner hub mechanism I am
limited. This is an area I will be working toward into the near future.
Nice post, Carlton. It is clear that you are seriously pursuing this opportunity of yours, and it seems that you were working on expanding your social capital even before this course. I think that this mindset will allow you to succeed in your business idea, and will facilitate success in other ventures that you explore. Good luck with your idea and nice post again.
ReplyDeleteGrowing your capital in this industry is the right choice. After several states legalized for medical use, many entrepreneurs took advantage of the new market niche that can potentially bring exponential revenue but also help those who need this in their day to day lives. Communicating with these individuals is an important first step to making it happen.
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