- Capabilities - I am very involved on campus and can reach out to various large groups to promote the product - Not imitable because the groups I belong to cannot necessarily be reached by everyone else.
- Human capital - well-trained employees - Many companies have well-trained employees so it might not be rare but it is valuable.
- Social Capital - I have made contact with people who work in the industry, including a Walgreens manufacturer - Valuable because it puts me one step ahead of others with similar products.
- Capabilities/Human Capital - I am very intelligent and committed to my ideas - This is valuable because it will keep the company and employees on course.
- Financial Capital - The product is not revolutionary so it will not be expensive to research or develop - This is rare because many startups can be very costly.
- Financial Capital - I have saved up money and have made previous smart investments so I do not need a lot of other investors initially - This is valuable because it will let me keep most of the profits to myself.
- Financial Capital - UF has various investment groups and clubs that might be willing to hear my pitch and give constructive criticism - This is valuable advice and is rare in the sense that not every student has similar options.
- Human Capital - One of my core competencies is being able to explain complex things in an easy way - This is valuable and rare because it will help with both marketing and delivering elevator pitches.
- Social Capital - My uncle is a dental surgeon and has given me excellent advice on what the product should include - This is valuable because it will help on the research/product development side of my business.
- Social Capital - One of my close friends is a dental student at a top university and has given me advice on how to market such products to young people - This is very valuable and non-substitutable because of our uniquely close relationship, not everyone has access to this person’s opinions.
My top resources are my vast network of people with unique expertise and my dedication to providing my best effort, energy, and intelligence.
Hey Max,
ReplyDeleteI see that you listed financial capital as a resource to your company and I think that it is great that you have a stable financial backing as this is rare in the budding entrepreneurship world. I also see that you listed your top resources as your social network and your dedication. Dedication is a great resource to have and is even what i listed as my top resource. I think that you should add your financial resources to the top because this is rare and thus should be most valuable.
-Jordan Jacobs
Hey Max,
ReplyDeleteBased off your list, you seem to have a very balanced assortment of resources. The vast majority of your resources come from the connections you have with people, such as your uncle who's a dental surgeon or your close friend who's in dental school. I really find that connections are some of the most important things to get places in life and as such, I think you're definitely on the right path. Great job overall on your post.
Samuel Ackenine
Hi Max,
ReplyDeleteI think you did a great job identifying you resources and analyzing how they would be useful to your opportunity. I think you chose an interesting way to outline it, but it is a good way of organizing which resource benefits what. I think your opinion of your most valuable resources is accurate. Hard work and dedication can take a business to great lengths with lots of success. Nice work.
Best,
Reed Blevins
Hey Max,
ReplyDeleteI like your selection for your 10 best resources. I believe that they are all well thought out and are critical for any business to have. I like that you picked your social network and your determination as your most vital resources, because who you know is as important as what you know, and having determination is what will put you through the trying times. Keep up the good work!
Luis