Resources:
1. Potential Investors: Family
2. Access to University Officials
3. Access to Students
4. Connection to Bed Bath and Beyond Manager
5. Marketing Background
6. Partners willing to customize application
7. Creativity
8. Communication Skills
9. Experience in Leadership
10. Market Flexibility
VRIN Analysis:
- Potential Investors: Family
- Value: Very valuable. Supports product's invention.
- Rare: Not Rare. Many different potential investors.
- Inimitable: Copied easily.
- Non-Substitutable: Other investors possible.
- Access to University Officials
- Value: High value. Gives contacts to other schools.
- Rare:Not rare. Many school officials, most offices open to the public.
- Inimitable: Easily copied.
- Non-Substitutable: There are other markets one is able to access.
- Access to Students
- Value: High. Networking and target customer.
- Rare:Not rare. Many new students every semester.
- Inimitable: Very inimitable.
- Non-Substitutable: Many students.
- Connection To B, B & B Manager
- Value:Somewhat valuable. Offers potential networking opportunities.
- Rare: Somewhat rare. Not everyone knows managers at these institutions but contact is always possible.
- Inimitable: Not very.
- Non-Substitutable: Not at all. Many different laundry machine vendors.
- Marketing Background
- Value: Useful for business dealings and overall comprehension.
- Rare:Not rare. Many people have marketing backgrounds.
- Inimitable. Not very inimitable.
- Non-Substitutable: Should be learned by all.
- Willing Partners for Application Customization
- Value: Very valuable. Useful for execution and maintenance.
- Rare:Very rare. Specifically selected people.
- Inimitable: Very inimitable. Specific team of people.
- Non-Substitutable: Not very substitutable.
- Creativity
- Value: Can be applied in all areas.
- Rare: Not extremely rare but not in everyone.
- Inimitable: Inimitable to the person.
- Non-Substitutable: Cannot be substituted.
- Communication Skills
- Value: Can be applied in all areas.
- Rare:Not extremely rare but not in everyone.
- Inimitable:Inimitable to the person.
- Non-Substitutable: Cannot be substituted but can be compensated for.
- Leadership Experience
- Value: Can be applied in all areas.
- Rare:Not extremely rare but not in everyone.
- Inimitable: Inimitable experiences and application.
- Non-Substitutable: Can be compensated for, but would be useful to have.
- Market Flexibility
- Value: Very high. Allows for product's survival.
- Rare: Very rare. Not all markets can transcend.
- Inimitable: Very inimitable.
- Non-Substitutable: Not substitutable.
Hey Brandon,
ReplyDeleteI think that all of the access to other resources like people, investors, and a consumer base can help your product come to the market and be a success. I acknowledge that your top resource is yourself with the experiences and skills. As an entrepreneur, your leadership experience is very valuable and I think this is one of your top resources. We both have leadership experiences that will make our businesses better and successful in the long run.
Hey Brandon,
ReplyDeleteYour resources show me that you are the CEO everybody thinks of! I can actually see how you lead off your business to one of the biggest companies in the world including Forbes covers and other magazines. Keep pushing yourself, and I’m sure one day you will become the new Jordan Belfort! Your leadership experience tells me that you are ready to take over the laundry industry.
Brandon,
ReplyDeleteI think that all of your resources benefit your company and will make your company stand out. Out of all of them I think your communication skills is the most important. In my experience, when you can effectively communicate with someone then you give off a good impression for your company. The first impression is what gets your company off the ground so I think this is the most important resource.