Your Venture’s Unfair Advantage - Assignment 23

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Resources in my venture
  1. My network is pretty substantial
    • V: this is valuable because having a good network helps you by giving you new or more opportunities.
    • R: it is hard to grow your network but is very important for the growth of the company
    • I: others can have a large network but it isn't necessarily the same as mine
    • N: everyone has their own network
  2. The service doesn't exist yet
    • V: this is valuable because it is a good opportunity that no one has exploited yet and can attract investors. 
    • R: no one has this service
    • I: this will be the first model of this service
    • N: there are similar services that could be similar and be used as a substitute
  3. Costumer Service
    • V: it is valuable because if costumers are satisfied with the attention to them they will probably return
    • R: many companies have costumer service but having great costumer service sets companies apart
    • I: costumer service experience is unique to a specific company
    • N: it is non substitutable
  4. Service Quality
    • V: by giving a good quality service you are giving the costumer a good experience
    • R: many companies can provide good quality but as there is no company like ours it is important to keep costumers satisfied in order to gain costumer loyalty.
    • I: the service is inimitable as there is no existing company and quality will be exclusive to the company
    • N: it is non substitutable
  5. Financial capital
    • V: it is valuable to have financial capital to start up a company and keep it running
    • R: it is hard to get financial backing as a start up
    • I: many companies can get financial backing
    • N: it is non substitutable
  6. Good leader
    • V: good leadership is key for running a company and working with teams
    • R: Good leaders are hard to come by?
    • I: no one can copy your leadership style and way of leading 
    • N: non substitutable
  7. Industry experience
    • V: it is valuable as you can use experience to set up systems, projects, networks, etc.
    • R: many people have their own experience but not everyone has experience when starting up
    • I: no one has your experience and insights from that experience
    • N: only you have that experience
  8. No debt or outstanding financial obligations
    • V: it might be easier to get a loan without too much debt
    • R: many people aren't debt free
    • I: many people that have a longer credit history than me are debt free
    • N: non substitutable
  9. Business major
    • V: it is valuable to have a degree as you go into the job with some insight and lots of education
    • R: not everyone has a degree
    • I: 
    • N: non substitutable
  10. Multilingual
    • V: It is important to know many languages in order to be able to network with more people and institutions
    • R:Not many people know multiple languages
I think that the most important resource is financial capital or network. A start up requires financial backing and you can get more backing through your network.

Comments

  1. Sophia PinedaJuly 26, 2020 at 4:15 PM

    Hey Maria, I think these are all valuable assets to your business. Its important to have contacts and no debt which is exceptional. This will help your company move forward in a faster way. Being multi lingual will also help you expand your horizons and reach another sector of customers!

    ReplyDelete
  2. Isabella P.GJuly 26, 2020 at 8:29 PM

    Hi Maria,
    these are great assets to have. We had several similar assets like multilingual, business major, no debt, and a good network. I think these are important to have and it facilitates the start of a new business. Thanks for sharing!

    ReplyDelete
    Replies
    1. UnknownJuly 27, 2020 at 6:31 AM

      Hi Maria!
      Thanks for sharing your thoughts with us. I really enjoyed reading all that you had to say. I think how you organized this whole list of you personal assets was really well done. Each element was easy to grasp and overall really well done. I think we made many similar choices as to the things that set our business apart/help make it successful.
      Again, thanks for sharing!
      -Morgan Mowery

      Delete
  3. Jonathan RodriguezJuly 27, 2020 at 7:55 AM

    Hello Maria,
    These are all great points and resources that will most definitely allow your service to expand and explode in the market. I realized that your product, like mine, has never entered the market. I was wondering if you feel that because of this you have already began thinking if a patent is necessary even at the very early stages? Overall great post and you made me think a little bit differently with this!

    ReplyDelete

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