1.) Social Capital- I myself know every single one of our customers and they'll be able to vouch for me and help me expand
Valuable- I think this is valuable, its always nice to know your customers.
Rare- Yes very rare! No not many people can say that they know all of their customers even though its a small amount.
Inimitable- This can be imitated
Non substitutable- people will always need this.
2.)Relationships with other entrepreneurs- My dads best friend is an extremely successful civil engineer and does really well in real estate.
Valuable- I consider this extremely valuable and Im very lucky to have a family friend who can help me with business venture
Rare- Yes, not everyone is fortunate enough to have a good friend who is this successful who can help and mentor you.
Non-Substitutible- No, most people don't share this resource.
3.) Human Capital- I consider myself a resource for my venture. I'm a businessman who has acquired a lot of of useful knowledge over the past couple years here at UF and plan on using everything I've learned to become very successful.
valuable- Definitely the most valuable of all of these.
Rare- No, other people do the same thing every day.
Inimitable- yes this can be imitated and does every day.
Non-substitutable- People use this resource every day.
4.) Social capital- My fraternity helps me expand this by announcing and advertising this option to friends and other brothers.
Valuable- Yes this is the reason for most of my customers.
Rare- no
Inimitable- yes people can imitate this.
Non-substitutable- people in our fraternity do this all the time for various reasons and ventures.
5.) Cost efficiency- No other Gainesville parking options in the area can compete with our prices.
Valuable- This is what we base our success on.
Rare- The most rare
Inimitable- Yes this can be imitated
Non-Substitutable- People will prefer this over others.
6.) Land- We have a good amount of land and its close to campus.
Valuable- This is the most valuable resource we have.
Rare- More rare than all 5 pieces of exodia
Inimitable- Few can imitate
Non-Substitutable- People need this.
7.) Social Contact- We know a landscaping business here that helped cleared more room for cars on our lot.
Valuable- moderately, it just helped us add a few more cars and look professional
Rare- Not rare at all
Inimitable- YES
Non-Substitutable- Not necessary, but helpful.
8.) Relatable- My focus is group is college kids and being a college myself we can relate which is why the price is what it is.
Valuable- Yes, in fact more people in the community need to do stuff like this.
Rare- Nope
Inimitable- Yes
Non-Substituble- People should want this service and should consider doing something similar themselves.
9.) Publicity- Now that we have numbers, these people along with brothers an friends will help us expand so that we always have a full lot and maximize profits.
Valuable- Yes, we want to make the most possible and help the most people possible
Rare- yes, it can be hard to expand on this here in Gainesville because people are always coming up with alternatives
Non-Substituble- People will listen to friends and come to our place over others.
10.) Negotiable- We do negotiate prices depending on how long you plan to rent a spot.
Valuable- It can be to the customer if they wanna save even more money.
Rare- Not at all.
Non-substistuable- People will always try to bargain so heres their chance.
Extremely influential attributes you can use for yourself endeavors that can propel your proposal forward. Cost efficiency is an extremely efficient component to have when gaining momentum in entrepreneurial experiences. Publicity is another great way to maximize networking. I would have definitely added more to the understanding of your approach your grand plan for a successful outcome fueled by your attributes.
ReplyDeleteI think that you came up with a lot of good things that will aid you in your business. One thing I would have liked to see is what you thought was the best one! I believe your idea would be pretty easy to accomplish especially with the connections that you have! It is a great way to make some extra money and something that wouldn't cost you too much to start! Great post!
ReplyDeleteHey Ben, I think this was a great post and helped me see into your business a little bit more. I didn't see how rare your venture was until I read this post. I mean I realized there was very little parking in Gainesville but I was thinking the bigger schemes of things. You're lucky with the fraternity part because that does give you a lot of exposure. Maybe paying for your friends does work out in the long run (;
ReplyDeleteGreat post Ben! I think your greatest asset is the fact that your fraternity is so willing an interested in your success. The fact your dad was an entrepreneur was also a huge asset, I'm sure he has inspired you too. I really do think your idea has a strong chance of succeeding with all the assets and competitive advantages you mentioned.
ReplyDelete