20A – Growing Your Social Capital


I chose my sister as a domain expert in my industry since she works in the health care field.  She has worked for consulting and health care companies her entire professional career. We do favors for each other all the time since we are family so there is no return expectation. Having her in my network is very beneficial since she knows a lot about health care and all the laws pertaining to it.

My important supplier in my industry is a family friend who works for KPMG in their healthcare division. He does a lot of work for hospitals and essentially is hired by companies to spearhead their health insurance and to improve the efficiency within hospitals. He will enhance my network because he deals with multiple suppliers in the health care industry.

The only supplier I could think of was one of the big insurance companies. But since my company won’t need the resources of such a large organization I think it would be best if we don’t have a supplier and just make everything ourselves. This would include the classes and medical visits. The only thing we would probably have to purchase is medication for flu shots, diabetes etc.

This experience will make me want to participate more when it comes to networking events. Networking is essentially to finding new opportunities and better ways to conduct a business. You never know who you will meet by just talking to people.

Comments

  1. Mitch ThiemannMarch 25, 2018 at 10:16 AM

    Nick,

    I think the level of expertise for your sister depends on the position she holds in the healthcare industry. Someone who is a low level worker does not have access to the same information and does not have the same experience in life as someone like the CEO. Classifying your sister as an expert did not impress me with the information you have in the post because it wasn't stated whether she was a janitor or a major executive of the non-profit.

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  2. UnknownMarch 25, 2018 at 11:16 AM

    Nick,
    I think your sister is a good domain expert because she has extensive knowledge of the healthcare field and has experience working as a consultant for different healthcare companies. I think she qualifies because she has made a career out of it and knows the ins and outs of the field. This will help you tremendously because it is someone you can go to on a regular basis to help you with your business venture. I agree with your take on networking and I think it is the key to finding new business opportunities. The connections you make are priceless and it is critical to expand your web of contacts.

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  3. UnknownMarch 25, 2018 at 8:08 PM

    I appreciate how you chose people close to you because you understood the extent of their expertise. I did something very similar, unfortunately I think you and I both lost out on prime networking opportunities, as well as people that would be better fits for the position. Based off of your descriptions however, they seem like they would be perfectly fine for the job and I’m sure would do great!

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