Wednesday, March 23, 2016

My Unfair Advantage

Resources:

  • Social Capital - I believe I have a large social capital because I have met many people who have the same interests, work in the same field I am interested in, or have experience. I also network (primarily on facebook) with many like-minded individuals.
    • Industry Expert
      • V - Yes, an industry expert is valuable because you need a broad spectrum of a perspective of the industry in order to satisfy potential customers.
      • R - Social capital is not rare.
      • I - No
      • N - Yes, an industry cannot be substituted with other resources because it is unique and distinct.
    • Supplier Expert
      • V - Yes, a supply expert is valuable because you need a broad spectrum of perspective in order to satisfy potential customers.
      • R - Social capital is not rare.
      • I - No
      • N - Yes, social capital cannot be substituted with other resources because it is unique and distinct.
    • Market Expert
      • V - Yes, a market expert is valuable because you need a broad spectrum of perspective in order to satisfy potential customers.
      • R - Social capital is not rare.
      • I - No
      • N - Yes, social capital cannot be substituted with other resources because it is unique and distinct.
  • Capabilities - My capabilities include: 
    • the endurance to strive for the best image of what I want my future venture to be
      • V - Yes, because without endurance I wouldn't be able to be an entrepreneur.
      • R -  No, it isn't rare but can be distinct to an individual.
      • I - No
      • N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
    • the ability to create a brand of "wellness"
      • V - Yes, because without the ability to create a brand I wouldn't be able to be an entrepreneur.
      • R -  No, it isn't rare but can be distinct to an individual.
      • I - No
      • N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
    • visionary 
      • V - Yes, because without being a visionary I wouldn't be able to be an entrepreneur.
      • R -  No, it isn't rare but can be distinct to an individual.
      • I - No
      • N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
    • customer service skills
      • V - Yes, because without customer service skills I wouldn't be able to be an entrepreneur.
      • R -  No, it isn't rare but can be distinct to an individual.
      • I - No
      • N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
    • leadership skills 
      • V - Yes, because without leadership skills I wouldn't be able to be an entrepreneur.
      • R -  No, it isn't rare but can be distinct to an individual.
      • I - No
      • N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
    • experience in meditation
      • V - Yes, because without experience in aspects of it I wouldn't be able to be an entrepreneur.
      • R -  No, it isn't rare but can be distinct to an individual.
      • I - No
      • N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
  • Economic - I have been working for the past 4 years with various different businesses and have seen businesses from the start until the day they go out of business.
    • V - Yes, experience in the workplace gives you the perspective of the employees mindset.
    • R - No, many people are in the workforce.
    • I - No,
    • N Yes, it may with an understanding of the aspect instead of being involved.
My top resource is probably social capital because with what I want to pursue, an interest in it would only come from those who are like-minded and those people play the most important role in my future venture.

2 comments:

  1. Hey Tina,
    Your post was very detailed and described your capitals really. Social capital is a great capital to have, but I wonder about its rarity. You should really try to search for a resource that has all the elements of the VRIN analysis. My unfair advantage looks a little different from yours. You can check it out at http://entrepreneurshipblogs.blogspot.com/2016/03/my-unfair-advantage.html

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  2. Hello Tina,
    I really liked your post and thought you did a great job. I think social capital is very important especially because in this class we are the founders of our company. I used a number ranking system for my VRIN analysis and it helped have an even clearer picture of whats valuable to my company. Overall great job, read mine here http://donovanvuf.blogspot.com/2016/03/your-ventures-unfair-advantage.html

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