23A- My Venture's Unfair Advantage


1. Human Capital- My dad owns a business where all the employees are pretty well rounded and can do work dealing with physical labor to sitting in an office and doing paperwork and all these people I have worked with before so I believe that they would be willing to do work for my product/company. Rare, very valuable, hard to copy, decently hard to substitute.

2. Financial Capital- I have a decent amount of money saved up from all my birthday and gifts. Enough to get a business started but I'm not sure how much to keep it going. Valuable, not rare, easy to copy, easy to substitute. 

3. Social Capital- Going to such a big school and being involved in sports, I get to know a lot of people from all sorts of backgrounds and with different skill sets so I believe I have a very diverse social network. Not rare, valuable, able to copy, not easy to sub.

4. Electronic Resources- All you need nowadays to start something is any electronic device to communicate and that's how you can start a business so a laptop or phone can get you started on something big. Valuable, not rare, easy to copy, not easy to replace.

5. Workspace- To get started I live in an apartment so if my product isn't made in a factory, I will have to use the space I already have to keep expenses low and that is where I live. Semi valuable, not rare, easy to copy, easy to sub.

6. Drive- No matter what product or company I choose I am 100% determined to make it successful because I want to be able to provide for my family and give back to the people who have given me so much. Extremely valuable, rare, hard to copy, not able to sub.

7. Support- Family and friend support is essential especially during the hard times of a business but this can be the difference of you pushing that extra mile that gets you to big bucks or where you stop and cut your losses. Valuable, rare, hard to copy, not able to sub.

8. Mentor- Luckily I have someone in my life that can mentor me and give me advice on a business because he is a business owner of his own that faced his own struggles. Valuable, rare, hard to copy, not easily sub.

9. Community- The community you choose to help with your company has a great deal on your success because people are more likely to support you if you give them something in return and that is what my product does for people who live along the beaches. Valuable, not rare, easy to copy, hard to sub.

10. Schooling- I go to the best school in Florida so the connections and intelligence of the people I meet is unmatched. Not rare, valuable, not easy to copy, easy to sub.

My most valuable resource I believe is my determination because without determination for my company to succeed, the rest of the resources are useless if I don't really give it my all. It's more important than the rest because even if I had no other resources other than that, I could make them and create the opportunity for those resources to exist.

Comments

  1. Cara LeydigNovember 18, 2019 at 8:29 AM

    Hey Nathan! It was awesome to see what gives your company an "unfair advantage!" It is also amazing that you have a mentor to look up to and who is there for advice and help along the way! I wish I had that ! Lastly, drive is one of the most important factors to hold on to, thats what makes or breaks some companies!

    ReplyDelete
  2. Nala MckieNovember 18, 2019 at 8:32 AM

    Hi Nathan,

    I agree that your determination is an invaluable resource. I like that you picked something as abstract but as powerful as determination to be your most important resource. I do believe that it is the foundation of the company. I also chose something sort of abstract but also very important. I believe that my most important resource is adaptability for some of the same reasons as you.

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