Growing Your Social Capital

Growing My Social Capital: 
1. Custom Ink is an online retail company that sells custom designed products like t-shirt, hoodies, sunglasses, towels, ornaments and more. Custom Ink would be considered a domain expert in my industry. They are mainly targeting individuals and small groups that want to have custom products created and mailed to them. They have a much wider variety of products than I plan to have which makes their distribution more complex but would allow them to provide me with lots of insight about how they manage their company. I live chatted with a customer representative and then was referred to a page that allowed me to send an email request to another representative for the company. My goal in this interaction was to learn more about their distribution process and how they manage their wide array of products. I think that by establishing a relationship with a leader in Custom Ink, I will have more access to supply chains and will be able to get a better understanding of both of our businesses. I do not think that my company directly competes with Custom Ink because I am intending to offer pre-sponsored products but I could definitely see a future in which Custom Ink would incorporate a service like mine into their platform. If I was able to get my business up and running, they may be someone who would consider buying me out and adding my business to their range of services.
2. Baggu is an online retailer of decorative reusable bags and totes. I would consider Baggu to be an expert in my market because they are targeting individuals who are trying to find an alternative to single-use bags. They are not a competitor because my business would be more focused on targeting businesses and corporations who want to advertise, but Baggu has already figured how to appeal to a mass audience by creating a quality product and advertising to the right communities. I followed Baggu on Instagram to get a better idea of how they market their product. They tend to post pictures of their bag being used in different settings and by a diverse array of customers. I think that this platform of social media could be beneficial to my company because it would appeal to a younger audience that may want to invest in supporting causes or politicians that they care about. I then sent an email to the address that was lifted on their website. I think that the leaders of Baggu could give me a better insight on how to market my product and what communities would be most susceptible to my mission of.
3. Ecobags is an online distributor and wholesaler of reusable bags. Ecobags is an important supplier in my industry because they offer wholesale and individual distribution methods. They are a woman owned business that is working to make the planet better with their product. I think that these similarities between their business and my own would allow for a beneficial partnership if I decided to try and purchase bags wholesale and print them myself. I sent an email to their information address and am hopeful to be able to have a conversation with one of their owners about the wholesale section of their company. I think that Ecobags may be able to supply the bags for my service or connect me with another distributor who could print and distribute them on a larger scale.

Reflection:
I think that this assignment forced me to leave my comfort zone and reach out to people who I would not have traditionally contacted. This was a different kind of networking because I was reaching out to people through email and social media, instead of calling or walking up to people. I was nervous to send every email but I realized that the worst thing that they could do was not reply. I think that this assignment made me realize how important it is to connect with people in your industry, even if they may be a competitor.