Your Venture's Unfair Advantage
The below are some of the characteristics of my business and myself that I truly believe differentiate it from any other similar business. Below, I have provided the VRIN analysis for each point.
1. Portability of the products
V- Highly valuable; my business goes where I go.
R- Perhaps not as rare; others can do the same.
I- In no way inimitable; others can easily do the same.
N- It is highly non-substitutable; others in brick and mortar stores cannot send items to customers.
2. Independence
V- Middle of the road; it is easier to operate without help but more stressful.
R- Not at all rare; I know a number of independent clothing sellers.
I- Not at all inimitable; anyone could do what I am doing.
N- It is not non-substitutable; it is neither an advantage or disadvantage.
3. Connectability to others
V- This is a valuable character trait; it enables me to have more repeat customers.
R- Not rare; it can be faked quite easily.
I- Not inimitable by a long shot; as I said above, it can be easily faked.
N- It is non-substitutable; customers need to know that you care at least a small amount about them.
4. Media presence
V- It is valuable; having connections on social media and other avenues by which I can sell is valuable.
R- Not rare; with the abundance of social media, it is extremely easy to create accounts and collect followers.
I- It is inimitable; not having even the slightest media presence would be debilitating in this line of work.
N- I would dare say it is non-substitutable; selling clothing is made far easier by social media.
5. Location
V- This is the most valuable attribute of my business; the on-campus aspect enables me to get ahead of the competition.
R- It is rare; no other company has tried to do it.
I- It is inimitable; no other place in Gainesville functions in such a petri dish fashion.
N- It is non-substitutable; this resource puts me in a great position to reach customers quicker than other companies.
---
I believe that this is my top resource. My location is ripe for business from poor college students. I have the ability to be their first contact if they are searching for a way to sell clothes as I am on campus. It is my only differentiating resource, and it is one that I fully intend on using.
---
---
I believe that this is my top resource. My location is ripe for business from poor college students. I have the ability to be their first contact if they are searching for a way to sell clothes as I am on campus. It is my only differentiating resource, and it is one that I fully intend on using.
---
6. My sense of style
V- Slightly valuable; I don't have one particular style and prefer many different styles in my life.
R- Not rare; many people have a mixed sense of style.
I- It is imitable; receiving input from others with different style senses could supplement this aspect.
N- It is not non-substitutable; some would prefer a business with a more particular sense of style as it lends to the predictability of the clothing sold.
V- Slightly valuable; I don't have one particular style and prefer many different styles in my life.
R- Not rare; many people have a mixed sense of style.
I- It is imitable; receiving input from others with different style senses could supplement this aspect.
N- It is not non-substitutable; some would prefer a business with a more particular sense of style as it lends to the predictability of the clothing sold.
7. Community of UF
V- It is valuable; having a few UF shirts on hand during football season would make me a ton of money.
R- It is rare; every campus has their own culture.
I- It is imitable; companies can feed off and do feed off of the culture at UF.
N- It is non-substitutable; not being a Gator in Gainesville would cripple a business.
V- It is valuable; having a few UF shirts on hand during football season would make me a ton of money.
R- It is rare; every campus has their own culture.
I- It is imitable; companies can feed off and do feed off of the culture at UF.
N- It is non-substitutable; not being a Gator in Gainesville would cripple a business.
8. My age
V- It is a valuable asset; it puts me on the same level as other college students and enables me to be more credible in their eyes.
R- It is rare in a technical sense; one can only be college aged for a few years.
I- It is imitable; slightly older and younger than college-aged folks can pull off the exact same thing.
N- It is not non-substitutable; students are unique in that they may trust an adult more than me.
V- It is a valuable asset; it puts me on the same level as other college students and enables me to be more credible in their eyes.
R- It is rare in a technical sense; one can only be college aged for a few years.
I- It is imitable; slightly older and younger than college-aged folks can pull off the exact same thing.
N- It is not non-substitutable; students are unique in that they may trust an adult more than me.
9. Eye for value
V- This is a valuable attribute; it helps me know what is a good item to buy and what to avoid.
R- It is rare; it has been cultivated over years of bargain shopping and being "bougie on a budget."
I- It is imitable; thorough research would provide you the same trait.
N- It is non-substitutable, however; it enables me to calculate resale costs and current selling price quickly.
V- This is a valuable attribute; it helps me know what is a good item to buy and what to avoid.
R- It is rare; it has been cultivated over years of bargain shopping and being "bougie on a budget."
I- It is imitable; thorough research would provide you the same trait.
N- It is non-substitutable, however; it enables me to calculate resale costs and current selling price quickly.
10. Craftiness
V- This is highly valuable; I am able to sew, embroider, and repair what would be high ticket items that need a little TLC.
R- It is not rare; many people can do the same.
I- It is not inimitable; the above stands here as well.
N- It is non-substitutable; there are two fates for items that need repair - the trash can or to be sold at a far lower price than they are worth. By putting in the time, these items are good as new and can be sold for fair market value.
V- This is highly valuable; I am able to sew, embroider, and repair what would be high ticket items that need a little TLC.
R- It is not rare; many people can do the same.
I- It is not inimitable; the above stands here as well.
N- It is non-substitutable; there are two fates for items that need repair - the trash can or to be sold at a far lower price than they are worth. By putting in the time, these items are good as new and can be sold for fair market value.
Comments
Post a Comment