23A – Your Venture’s Unfair Advantage

1) Connections
* Valuable? Yes, having a large network is always valuable.
* Rare? It is rare to have a lot of connections that can be useful for investors, advice etc.
* Inimitable? Yes, having connections and knowing some people can not be imitable.
* Non-Substituable? Yes, there are no such as substitutes for connections
2) Leadership skills
* Valuable? Yes, possessing leadership skills is always great for a CEO
* Rare? yes, not a lot of people have leadership skills
* Inimitable? Yes, leadership cannot be imitated
* Non-Substituable? Yes
3) Ambitious
* Valuable? Yes, this is very important because the business owner will always think of ideas to innovate the business.
* Rare? Yes
* Inimitable? No, some people do not have the same mentality, so it can't be imitated
* Non-Substituable? Yes
4) Motivation
* Valuable? Yes, motivation is always valuable for technically everything in life.
* Rare? No
* Inimitable? no
* Non-Substituable? no
5) Financial resources
* Valuable? Yes, having the possibility of having financial resources is always great to start up businesses.
* Rare? Yes
* Inimitable? Yes
* Non-Substituable? Yes
6) Family support
* Valuable? Yes, having the support of your family to launch yourself into the entrepreneurial business world is always a resource.
* Rare? I would say that it is rare
* Inimitable? Yes
* Non-Substituable? Yes
7) Work Experience
* Valuable? Yes, having the experience of working is valuable
* Rare? No
* Inimitable? Yes
* Non-Substituable? yes
8) Hardworking
* Valuable? Yes
* Rare? Yes
* Inimitable? Yes
* Non-Substituable? Yes
9) Influencer
* Valuable? Yes, being an influencer is always a great skill for the business world.
* Rare? yes
* Inimitable? Yes
* Non-Substituable? Yes
10) Entrepreneurship
* Valuable? yes, having the entrepreneurship mindset is highly important and valuable
* Rare? Yes, not a lot of people have the entrepreneurship mindset and skills
* Inimitable? Yes
* Non-Substituable? Yes

After analyzing all of my resources I think that the most important one is connections. Having connections with the right people is always key for business. Whether is to find investors, or mentors are always important to have and keep the right connections as a resource.

Comments

  1. UnknownJuly 23, 2018 at 4:38 PM

    Hello Sebastian, I really like that you made a list for each of the categories. The way I did it was a table with the group and with a yes/no and a commit part for information. Also, you saying having the right connections with the right people is the most important resource and I believe that to be true also. More connections the better is now I feel, bigger the web the better.

    ReplyDelete
  2. UnknownJuly 23, 2018 at 6:29 PM

    I believe values are an essential part of a business; people need connections to improve the marketability of the company, leadership is critical to take appropriate decisions, you have to be ambitious to ideal your dreams, motivation does not allow you to give up, you will need proper credit to invest in products, family support is essential. All these values will make you succeed.

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