20A Growing Your Social Capital

Person 1: Domain expert

This person is my sister’s CrossFit instructor. My sister gave me his phone number and connected us. I called this person and we talked about the highs and lows of their job. I also talked to him about how he would go about teaching virtual classes as a fitness instructor and his thoughts on this concept. Having this person in my network will help me gain perspective on how best to make technology that adapts to live streamed classes.

Person 2: Market Expert

This person works as a brand manager for a fitness company. She is my friend’s mom. I called this person and we talked about her career in branding and how she got started. I also talked to her about her decision-making process for brand strategizing in the fitness industry. Having this person in my network gives me someone to reach out to when I need to make branding decisions.  

Person 3: Supplier

This person sells at home fitness equipment. I was able to find this person through LinkedIn and messaged them. Speaking to this person helped me learn more about the type of products that are in demand in the fitness industry and different supply chain options. Having this person in my network can help me get a better idea of what type of equipment on the market is popular today.

Reflection: This experience forced me to do some target networking. I practiced expanding my network by seeking others out rather than waiting for them to come to me at a campus networking event. This will definitely affect how I network in the future while looking for a full-time job.

19A: Idea Napkin 2

1)    You. 

I’m a business administration major at the University of Florida. I’m also a Cuban-Spanish American who grew up in Miami. I’ve played sports since I was five years old and have grown a passion for fitness. I’ve found that keeping a steady fitness routine has become more challenging as my schedule’s become more hectic and want to contribute to a solution that makes working out quick and fun. My aspiration is to work in business analytics and help businesses make logical decisions. I would love to exercise this skill by creating a business that provides affordable at home or in office advanced gym-workout machines. This would have a significant impact on my life. I would be dedicating most of my time and energy to building this business.

2)    What are you offering to customers? 

        I’m offering customers an advanced at-home or office workout machine that would mitigate the need for a gym membership. This product resembles a treadmill, but the track is made with a recycled plastic mat that is easier on the knees and joints. The treadmill comes with a 24x36 inch HD touch screen that participants can use to select workouts that are in line with their fitness goals. The machine comes with built in workouts that feature beautiful HD scenic courses that slope up and down hill. These courses come in different lengths and levels and are included in the exercise machine’s initial price. Additionally, this machine will include workout classes held by top fitness instructors that can be live-streamed or pre-recorded for an additional monthly subscription fee. To help build a community or to get more out of your class, there will be a chat feature on the side of this massive screen that can convert audio to text and send messages to the live chat or directly to the instructor. The instructor can then answer your questions out loud during the class. This machine will have different monthly payment plan options making it more affordable to the general public. 

3)    Who are you offering it to? 

The demographics of this workout machine are middle- and upper-class professionals of all fitness levels who want to invest in their health.   

4)    Why do they care

This machine is valuable because jobs are becoming more sedentary and health awareness is on the rise. Additionally, time is becoming an increasingly scarce resource. My customers will invest in this machine because it will allow them to have an effective and engaging guided workout that can be personalized. They will also save time commuting to and from the gym.

5)    What are your core competencies?  

My product has many different stakeholders which gives me a huge advantage. Some stakeholders are software designers, hardware designers, fitness instructors, and off course, my clients. Additionally, my product will have affordable payment plan options making it accessible to a wider range of socioeconomic backgrounds. It also has the advantage of being located in the office or home reducing time spent commuting and has a community aspect.

I think these elements really complement each other. However, I think it would be challenging to find enough investors to fund this business idea and the talent to carry it out. This is a very expensive business idea.

 People who commented on my post really liked my idea. For this post, I decided to focus on adding more detail than I did the first time around.

18A Create a Customer Avatar

My customer avatar is an upper middle-class middle-aged woman who works as the head of risk management at an international corporation. She has a son and a daughter and is on the Board of Trustees at their K-8 school. She loves coffee and has a french press at home. She values fitness but struggles to incorporate it into her busy life. She drives a Range Rover and loves watching the Daily Show, Ellen, and Catfish.

I’m similar to this customer because I value fitness and have a hectic schedule.