23A: Your Venture's Unfair Advantage
1. Social Capital-People that have a direct relationship to people with disabilities: I have the ability to get in contact with significant, direct resources of people with disabilities so I can know how to handle situations
Valuable: This is valuable for this service because it would help me handle and understand different situations
Rare: This is semi rare because many people would not have this resource, but people that do could also exploit it
Inimitable: If someone could find this resource, they could copy it, but they would need to find it and make a connection with these people.
Non-substitutable: A person that has a direct relationship with a student with disabilities and the amount of knowledge that they possess is not substitutable, there are different people, but this exact characteristic is not substitutable.
2. Support from the community: Different people and organizations are all about the idea and mission of my service and how it would help people with disabilities.
Valuable: This resource is valuable because if I am able to get the community to back the mission attached to the service, the coffee shop will be successful.
Rare: This resource is not super rare because any product or service could be successful if they had the right people supporting them.
Inimitable: This resource could be copied and used for any other project.
Non-substitutable: This resource cannot be substituted because getting support behind the community would provide this service with a kind of success that could not be found somewhere else.
3. Relationships with alike business: I recently came into contact with a girl that also has a business that only employs people with disabilities
Valuable: Very valuable because I will be able to talk to this girl and figure out where she succeeded and where she went wrong and then try to adjust my business plan
Rare: This connection is semi rare because it would be easy for a lot of business ideas to find something that they are related to and try to do the same thing I am.
Inimitable: The resource could be copied because all you would need is to find a person that has already exploited the opportunity.
Non-substitutable: This resource could not be substituted because the information I would get from this resource would not compare to another resource.
4. Financial Capital: Parents that would back my opportunity
Valuable: Very valuable because you need money to be the means of starting to run a business idea
Rare: Not rare, a lot of people have parents that would support them and lend them money
Inimitable: This resource could be copied because you would just need to find someone to back your idea and provide funding
Non-substitutable: This resource is semi substitutable. You need money to start a business, but you don't need it directly from your parents.
5. Social Capital: Knowledgable in this field
Valuable: This is a valuable resource for this service because it will allow me to come in with an understanding on how to interact with and motivate people with disabilities.
Rare: This resource is not rare because anyone could be knowledgeable in the field they want to go into.
Inimitable: It would be difficult for someone to exactly copy the knowledge and skills I have learned to be able to deal with these situations.
Non-substitutable: This knowledge I have is not substitutable because it has allowed me to further pursue my opportunity and how I go about living my day to day life.
6. My mission and concept are unique
Valuable: This is a valuable resource because it will rally people to back my idea since it is unique and it has a positive and life changing mission.
Rare: Sometimes it's hard for missions and ideas to be rare. People are usually trying to better someone else's life, which is something that usually isn't rare.
Inimitable: It would not be difficult for someone to copy this exact mission, but it would be difficult for someone to put as much thought into this as I have.
Non-substitutable: This resource is not substitutable because the uniqueness provides it with the means to be successful.
7. Social Capital: invested people, I know a lot of people that are very interested in the opening of this service and want to see how the can contribute
Valuable: This resource is valuable because when you have resources that care, the business will be more successful.
Rare: This resource is semi rare because people usually are invested in things they care about, but sometimes it takes people a little bit to become invested into something.
Inimitable: This resource can be copied because you would just need to find invested people to support your business.
Non-substitutable: This resource can be substituted because it isn't the sole purpose for success.
8. My ability to convey an idea and purpose to people
Valuable: Very, it is a big reason I think my opportunity will succeed. A lot of my peers told me that I have done a good job relaying the purpose of my opportunity.
Rare: Not very rare, a lot of people possess this ability.
Inimitable: This resource can be copied because it is just a characteristic that I have and so do a lot of other people.
Non-substitutable: It is not substitutable because it helps me have the grit and ability to get the job done and to help encourage other people to be apart of it.
9. Supplier; ability to find materials, resources, etc. I know some suppliers in Gainesville that could supply me with the necessary items needed.
Valuable: It is very valuable because it is the means to getting the business up and running.
Rare: This is not rare, all people that run a business need to have a supplier.
Inimitable: This resource can be copied
Non-substitutable: This resource cannot be substituted, it needs to be there for a business to run.
10. Communication skills and ability to make and maintain relationships
Valuable: Very, the core for running a good, smart business
Rare: In this day and age, very rare. Many people do not know how to have quality relationships surrounded by communication.
Inimitable: This resource can be copied, it is just a characteristic I possess.
Non-substitutable: This resource cannot be substituted, it is needed to be able to run a good business.
After doing this VRIN analysis, I would say that my most important resource is the support I have from the community. This resource hits all of the points of the VRIN analysis because it is a needed aspect of my service. Without this resource, I do not think that my opportunity would be successful. My idea is all about spreading the mission so that people are aware and can support my opportunity.
Though all my resources are important, this is the one that differentiates itself from the others, and I believe that without this one, the business would not succeed.
Valuable: This is valuable for this service because it would help me handle and understand different situations
Rare: This is semi rare because many people would not have this resource, but people that do could also exploit it
Inimitable: If someone could find this resource, they could copy it, but they would need to find it and make a connection with these people.
Non-substitutable: A person that has a direct relationship with a student with disabilities and the amount of knowledge that they possess is not substitutable, there are different people, but this exact characteristic is not substitutable.
2. Support from the community: Different people and organizations are all about the idea and mission of my service and how it would help people with disabilities.
Valuable: This resource is valuable because if I am able to get the community to back the mission attached to the service, the coffee shop will be successful.
Rare: This resource is not super rare because any product or service could be successful if they had the right people supporting them.
Inimitable: This resource could be copied and used for any other project.
Non-substitutable: This resource cannot be substituted because getting support behind the community would provide this service with a kind of success that could not be found somewhere else.
3. Relationships with alike business: I recently came into contact with a girl that also has a business that only employs people with disabilities
Valuable: Very valuable because I will be able to talk to this girl and figure out where she succeeded and where she went wrong and then try to adjust my business plan
Rare: This connection is semi rare because it would be easy for a lot of business ideas to find something that they are related to and try to do the same thing I am.
Inimitable: The resource could be copied because all you would need is to find a person that has already exploited the opportunity.
Non-substitutable: This resource could not be substituted because the information I would get from this resource would not compare to another resource.
4. Financial Capital: Parents that would back my opportunity
Valuable: Very valuable because you need money to be the means of starting to run a business idea
Rare: Not rare, a lot of people have parents that would support them and lend them money
Inimitable: This resource could be copied because you would just need to find someone to back your idea and provide funding
Non-substitutable: This resource is semi substitutable. You need money to start a business, but you don't need it directly from your parents.
5. Social Capital: Knowledgable in this field
Valuable: This is a valuable resource for this service because it will allow me to come in with an understanding on how to interact with and motivate people with disabilities.
Rare: This resource is not rare because anyone could be knowledgeable in the field they want to go into.
Inimitable: It would be difficult for someone to exactly copy the knowledge and skills I have learned to be able to deal with these situations.
Non-substitutable: This knowledge I have is not substitutable because it has allowed me to further pursue my opportunity and how I go about living my day to day life.
6. My mission and concept are unique
Valuable: This is a valuable resource because it will rally people to back my idea since it is unique and it has a positive and life changing mission.
Rare: Sometimes it's hard for missions and ideas to be rare. People are usually trying to better someone else's life, which is something that usually isn't rare.
Inimitable: It would not be difficult for someone to copy this exact mission, but it would be difficult for someone to put as much thought into this as I have.
Non-substitutable: This resource is not substitutable because the uniqueness provides it with the means to be successful.
7. Social Capital: invested people, I know a lot of people that are very interested in the opening of this service and want to see how the can contribute
Valuable: This resource is valuable because when you have resources that care, the business will be more successful.
Rare: This resource is semi rare because people usually are invested in things they care about, but sometimes it takes people a little bit to become invested into something.
Inimitable: This resource can be copied because you would just need to find invested people to support your business.
Non-substitutable: This resource can be substituted because it isn't the sole purpose for success.
8. My ability to convey an idea and purpose to people
Valuable: Very, it is a big reason I think my opportunity will succeed. A lot of my peers told me that I have done a good job relaying the purpose of my opportunity.
Rare: Not very rare, a lot of people possess this ability.
Inimitable: This resource can be copied because it is just a characteristic that I have and so do a lot of other people.
Non-substitutable: It is not substitutable because it helps me have the grit and ability to get the job done and to help encourage other people to be apart of it.
9. Supplier; ability to find materials, resources, etc. I know some suppliers in Gainesville that could supply me with the necessary items needed.
Valuable: It is very valuable because it is the means to getting the business up and running.
Rare: This is not rare, all people that run a business need to have a supplier.
Inimitable: This resource can be copied
Non-substitutable: This resource cannot be substituted, it needs to be there for a business to run.
10. Communication skills and ability to make and maintain relationships
Valuable: Very, the core for running a good, smart business
Rare: In this day and age, very rare. Many people do not know how to have quality relationships surrounded by communication.
Inimitable: This resource can be copied, it is just a characteristic I possess.
Non-substitutable: This resource cannot be substituted, it is needed to be able to run a good business.
After doing this VRIN analysis, I would say that my most important resource is the support I have from the community. This resource hits all of the points of the VRIN analysis because it is a needed aspect of my service. Without this resource, I do not think that my opportunity would be successful. My idea is all about spreading the mission so that people are aware and can support my opportunity.
Though all my resources are important, this is the one that differentiates itself from the others, and I believe that without this one, the business would not succeed.
Logan,
ReplyDeleteBefore I read what you considered to be the most important, I thought community support was the most important as well. Personally, where I am from in Sarasota Florida, there is a lot of support for the disabled community. We had various clubs at our high schools that worked with disabled students and provided mentors for them as they went through their high school careers. I think clubs like this would be a great opportunity for your business idea to connect with local communities.
Logan,
ReplyDeleteAfter reading through your post and VRIN analysis, I think you made a good choice by saying that the community support was most valuable to your venture. I think that the support from the community could help push your ideas forward and also provide you with feedback from people who care about their community as well. Since your idea revolves being spread by word of mouth I think that the community is the perfect resource to do so. Getting to know the locals will definitely help your business venture and bring others to support your cause.
Logan,
ReplyDeleteI thought that you had some pretty solid venture points. I would agree with you and everyone else that the community support is the most important venture. Without them you don't really have much of a business but that pretty much goes for every business. I also think that it is good that you have connections with that community because that will really help you start your business.