23A – Your Venture’s Unfair Advantage
Resources in My Venture
· Human
Capital
o
V- It’s definitely valuable to have a team
of individuals with a diverse skillset
o
R- Human capital is not particularly rare
o
I- Relatively imitable
o
N- When it comes to working with people,
human capital is non-substitutable, however in regards to building, it can be replaced
by advanced technology
· Partnerships
(Close Ties) with the University
o
V- This is a very valuable resource
o
R- This resource is also rare, since it
cannot be found just anywhere
o
I- Non imitable
o
N- Non substitutable
· Financial
Capital (University’s Budget)
o
V- Upon convincing the university to
accept the plan, there would be plenty of funds to build the building which is
very valuable
o
R- Not rare
o
I- Not imitable- the funds are essential
o
N- Non-substitutable
· Social
Capital
o
V- Social capital and networking stills
are valuable for making connections
o
R- Not exactly rare
o
I- Definitely imitable
o
N- Not substitutable
· Marketing
o
V- Being able to generate force behind the
idea- not essentially valuable except for in terms of generating donations and more
funds
o
R- Not rare
o
I- Possibly imitable
o
N- Possibly substitutable
· High
Demand
o
V- Having a lot of support from the
students helps the university to support the idea more
o
R- This support is rare and important
o
I- Not imitable
o
N- Not substitutable
· Communication
Skills
o
V- Being bilingual and having practice
with communication helps to sell the idea. Definitely valuable
o
R- Rare to an extent
o
I- Is imitable
o
N—Potentially substitutable
· Sales
Experience
o
V- Once again, assists in selling the idea
o
R- Not rare
o
I- Definitely imitable
o
N- May be substitutable
· Close
Attention to Detail
o
V- Valuable in terms of producing useful
work and conveying ideas
o
R- Not rare
o
I- Imitable
o
N- Substitutable
· Persistence
o
V- Definitely valuable- not quitting at
the sight of failure
o
R- Rare often times
o
I- Not imitable
o
N- Possibly substitutable
I feel as though my top resource is the fact that as a
student, I have close ties with the University and I feel as though I would be
able to effectively communicate with the right people in order to propose this
idea. Not only this, but since I am close with many students, I could help
convey the demand for a new library as well.
Hi Nikki,
ReplyDeleteI agree that your top resource is your relationship with UF as a student. If someone that didn't go to UF tried to put in new libraries, they'd have no idea what they were doing because you need to know the campus well to even start on a project like that. I think you did a good job with your analysis of each component, good job overall.
Hi Nikki, the resources in your venture seem great. Close ties with the university, in my opinion, will get you the furthest, but that is only one of the advantages listed so looks like you're ahead of the game. I'm sure if you show the high demand and use your communication skills to push for the project, the financial capital from the university will be granted. Overall, good job.
ReplyDeleteHey Nikki,
ReplyDeleteI think you definitely did a great job on this post. The layout seems great and very easy to follow. Social capital, high demand and persistence are great qualities to have in any endeavor. However, having them contribute toward your business plan is even better. You have a great handle on things. Great post!
Hey Nikki,
ReplyDeleteFirst off, I want to say that I think you did a great job at organizing this post and it makes it a lot easier to follow. Your connections with UF is very important and I understand why it is your top resources. Most people our age do not have this advantage, and the university has a lot of resources to help you with your startup. Great post!