Design Knowledge (human capital)
V: I have experience designing an actual app and its layout and functionality. Understanding how to properly design things is a good skill to have when making a product.
R: Not many people my age have this kind experience.
I: People can't copy the experience I have.
N: Although other people can be more experienced than me, they would do things differently than me.
Professional Clients experience (human capital)
V: Having experience dealing with professional clients at my age gives me a better understanding of how things work in the real world.
R: Not many people my age have experience pitching and presenting products to actual business clients.
I: People can't have the experience I have
N: Although other people can be more experienced than me, they would do things differently than me.
KeyBrain (human capital)
V: This idea is what makes my venture special.
R: Not many companies are looking to reinvent key chains.
I: People could have similar ideas, but nothing like mine.
N: There aren't many substitutions for this kind of product.
Connection to business professionals (social capital)
V: Having access to people who could help me grow my business could really help.
R: It isn't that rare for someone my age to know someone involved in business
I: My connections can't be copied.
N: This can be substituted by knowing better contacts.
Determination (human capital)
V: Having the will to see this venture through to the end is very valuable.
R: Not many people are willing to invest this amount of effort into something.
I: You cannot copy this.
N: This could be substituted with someone more determined.
Connection to design professionals (Social capital)
V: Being able to get feedback or ideas from design experts can really help make my product better
R: Having this kind of connection isn't rare.
I: This could be copied by having the same connections.
N: This could be substituted by having better connections.
Location (Social capital)
V: Being in a university allows me test the product in every situations.
R: This kind of environment isn't rare.
I: This could be imitable with any other university.
N: This could be substituted with any other location
Large base of customers (social capital)
V: Being able to sell this product to 50,000+ on campus and businesses around Gainesville could give me an edge in breaking into the market.
R: A college town isn't that rare.
I: This could be imitable with any other college town.
N: This could be substituted with any other location.
Responsibility (human capital)
V: Being able to be trusted by customers and connections is extremely valuable in business.
R: Not very rare for people to have this
I: This trait could be imitable.
N: This could be substituted
Powerful laptop (human capital)
V: Being able to work on everything on one machine and being able to take is very valuable.
R: Having a good laptop isn't rare.
I: This could be easily copied by just buying the same computer
N: The software and hardware I used can be easily substituted.
My top resource is probably my experience dealing with professional clients.Working with professional clients on a project isn't something a lot of people have. Having a understanding of this helps my venture by giving me an edge on how to work with business partners.
Hey Jason. First off I wanted to say nice job on this assignment. After reading through your post it sounds like you are pretty well equipped to tackle your venture. It sounds like you have some pretty good connections to various professionals. I know from experience how valuable these connections can be. If you are interested, here is the link to my “unfair advantage” assignment: http://parkeruf.blogspot.com/2016/03/my-unfair-advantage.html
ReplyDeleteHey Jason!
ReplyDeleteYou did amazing on this assignment, nice job! I love how you so clearly laid out the VRIN for each resource really showed how much capital you have and how beneficial it is for you. It sounds like you really have the skills and resources you need to build a strong business. I know most of it is human capital, I had that too. I feel like as time goes on there will be more financial and social capital in your business. Overall, great work.
Here's the link to my own post: http://ckm-ent3003.blogspot.com/2016/03/week-11-my-ventures-unfair-advantage.html
Hi Jason,
ReplyDeleteGood job on the assignment, well organized and you clearly followed instructions which always makes it easier to read and understand. Its wonderful that you possess app making skills at a young age and that you already have experience dealing with professional clients, that undeniably gives you an "unfair advantage" over some of your classmates! You seem to have good idea of what you want to do, I wish you the best of luck with your app, and keep up the great work, man!