1. Resource list
1. Abundance of human capital
This is valuable and rare because we have numerous amounts of people able to wrk for us. However, it is easy to copy this. Many companies have alot of employees. These employees can not be substituted for anything else though.
2. Social capital
This is valuable and rare because we have a excellent social relationship with many of the physical components of our busness. However, another company could be as social, but this is not substitutable.
3. Bar relationships
This is valuable and rare because we have an excellent relationship with many of the bars. This is not inimitable because not many companies can say they have this type of relationship. Also this is not substitutable.
4. Knowledge of the market
This is also valuable and rare because outside companies do not now the Gainesville night life as well as we do. This is also not inimitable or substitutable because you can not copy a specific knowledge that is not given easily.
5. Organized culture
This is valuable but not rare because anyone could implement organization into their culture. Also this is inimitable and easily substitiuble for another culture.
6. A structural hierachy
This is valuable but not rare. Having structure is key but many companies do this. It is inimitable and substitutable as well.
7. Delegates
This is valuable and rare, not many companies use delegates to mae sure their product is being well received. These delegates are practically integrated spokes people for the company that are regular purchasers of the product. This is not intimitable or substitutable.
8. Solid financial capital
Financial capital is very valuable, however not rare. It is inimitable but not substitutable.
9. Emotional resources
Having a strong emotional bond wit all your partners is very valuable and rare. It is not inimitable or substitutable because it is impossible to imitate one's relationship.
10. Mentor resources
Having a mentor is valuable but not rare. Also it is not inimitable because not everyone has the same relationship with their mentor. Also it is not substitutable.
2. Market Knowledge is the most important because that is what clearly sets us apart. Being in this market for so long has allowed us to recognize specific trends that other companies do not have access to. We are able to determine profitable nights and we can properly estimate attendance. Therefore, I believe that market knowledge is the one thing that makes this venture very hard to compete with.
I agree that market knowledge is extremely important as well but also very close in importance is the good relationships with the local bars that you have. You also seem to have multiple other good qualities that will help your business succeed. Great work! Here's the link to mine: http://tonyclements90.blogspot.com/2016/03/my-unfair-advantage.html
ReplyDeleteHey Hunter, I liked how you came up with ten unfair advantages that were simple and straight to the point. I think you should emphasize how it would set your business apart and how it cannot be easily imitated. We had some similar ones including knowledge of the market and solid financial capital. You could have explained how you possess some of the examples you proposed like when you mentioned that mentor resources are important. What mentors do you have and how do each of them better help you and your venture? Good job!
ReplyDeleteHere is my link if you're interested:
http://myentrepreneurshipinizio.blogspot.com/2016/03/my-unfair-advantage.html