Thursday, April 9, 2020

Your Venture's Unfair Advantage

1.) Experience and knowledge of social media marketing

  • V- very valuable, very important resource in modern day world.
  • R- not many people focus solely on social media
  • I- easy to imitate, easy to learn about this
  • N-it could be substitutable if people learned about this field.
2.) Individualized approach
  • V-extremely valuable
  • R-rare, most don't focus on the individual
  • I-somewhat easy to imitate
  • N- I will have a different approach than others no it can't be substituted.
3.) Reliability
  • V-very valuable
  • R- somewhat rare
  • I- easy for people to say they're reliable, not always true
  • N- not substitutable
4.) Connections and personal network
  • V- valuable
  • R- not rare, everyone has connections in one way or another
  • I- can imitate
  • N- is substitutable
5.) Personal determination
  • V- valuable, impacts results
  • R- rare
  • I- can pretend to imitate
  • N- can be substituted
6.) Vision
  • V- very valuable
  • R- rare compared to others
  • I- can't be imitated
  • N- can't be substituted
7.) Doesn't need startup capital
  • V-valuable because it saves money in the long run
  • R- somewhat rare
  • I- not something that you can imitate
  • N- others could substitute
8.) Software used to create content
  • V- quite valuable
  • R- not rare, others use it
  • I- can be imitated
  • N- can be substituted by others
9.) The quality of my business
  • V-very valuable
  • R- somewhat rare
  • I- others can imitate in a different way
  • N- could be substituted by a different business
10.) Financial stability
  • V-valuable, will help solve problems in the future
  • R-somewhat rare
  • I- can't be imitated
  • N- others can substitute
I believe my top resource is the individualized approach I will offer. Others can try to imitate this resource but not everyone will be successful. It is also extremely valuable which will make a difference. 

1 comment:

  1. Hey Maria,
    I think you did a good job identifying the resources your business will need. One thing I do think you could do to improve your post is going into move detail about each aspect of VIRN and how it would apply to each resource. I agree with your choice in top resource, your individualized approach is very unique to your business and could set you apart from others.

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