Friday, March 27, 2020

Growing Your Social Capital


The domain expert in my industry…I was able to get in contact with the owner of a local supplement shop back in my hometown. He said that my idea was unique and that the idea of backing your dosages with research and offering different caffeine levels was a good idea as well. Many of the customers at his store resemble the prototypical customer, an avid gym-goer who is extra conscious about buying effective supplements. He told me that he would give my product another look when the design is more clear and see if it would be a good item for the store.

An expert on the market…conveniently enough, I was able to talk to my dad about this one. He is the general manager of Living Fuel Inc., an online superfood nutrition platform. While they do not have a patented preworkout, they appeal to a prototypical customer similar to SmartStrength’s. He liked the idea of marketing a science-based product because of the increasing hyperawareness of fake or ineffective products that has arisen from the surge of fake news in recent years. He also told me that he would be able to get expert advice from the owner of the company and get me in contact with industry suppliers.

The important supplier in the industry…as previously mentioned, my dad was able to get me in contact with one of his suppliers to ask him a few questions about my chosen business idea. He liked the idea of SmartStrength, and gave me a few recommendations on what to look for in a high-quality supplier firm. He pointed me to some of the industry suppliers that ship preworkout supplements as well.

Friday, March 20, 2020

Creating a Customer Avatar

My product, SmartStrength is a pre-workout supplement that contains research-supported clinical doses of crucial ingredients that improve training performance. It also has three levels of caffeine content, 150mg, 250mg and 350mg. I believe that my product is unique in that it creates a very wide range of possible consumers, but if I had to create a customer avatar to represent my segment, they would likely be in their 20s-30s, male or female, and are frequent gym-goers. While SmartStrength is advertised to appeal to all levels of fitness experience, it is likely that the groups of consumers most interested in the product have already developed a keen interest in training. My avatar is also someone who is particular about how they spend their money and always to research into a supplement, or any other product for that matter, before making a purchase.

Essentially, my customer avatar is a lot like me. I decided to go with SmartStrength as my product because I have been an avid gym-goer for about 6 years and have tried so many preworkouts that disappointed me because they either didn't work or weren't dosed correctly. I don't think this is a coincidence because my product is a direct reflection of my entrepreneurial thinking about issued that have affected me directly.

Image result for dom mazetti

Elevator Pitch No. 2

https://www.youtube.com/watch?v=YpKa6lHRY9I

A common critique I received regarding my first elevator pitch was that I needed to slow down and be more deliberate with my words like I was giving a speech, which I attempted to improve in this one. Additionally, I tried to emphasize certain words that highlight the unique features of SmartStrength like "research" and "clinically-dosed".