Resources:
1. colored pens
2. pencils
3. paints
4. sketchbook
5. target copy
6. sticker paper
7. drawing skills
8. painting skills
9. enthusiasm
10. being outgoing
11. knowing a lot of people
12. having friends that can promote for me
13. social media platform
14. originality
15. knowledge on what is popular/trendy
16. time management skills
VRIN
Resources 1-6 are important because they are the basics I would need to physically create the stickers I want to sell. They are not that rare because they are basic items, but they are still important.
Resources 7-8 is very valuable for my business plan because it is crucial that I can make stickers and designs that look appealing. I have to be able to make stickers people would actually want to buy. These resources are a bit more rare and non-substitutable because they are part of my human capital.
Resources 10-16 are part of my human capital as well, and they will be helpful for the business plan. They are unique to me, which makes them harder to copy. They are non-substitutable because without them the business would not be successful. I have to be outgoing and rely on personal connections here at UF to get this business started.
Originality is the most important resource for me considering i am competing against online companies, so I need to make something that cannot be found online. I have to make these stickers unique, new, and exciting so that people actually want to buy them. I think creativity and originality are additional selling points for my stickers instead of just buying from a big online company.
Hello Allison. Your reasoning of describing your advantages was interesting to read. I haven't even noticed some of your selections are some that I probably would've written down. I agree that time management skills are very important. In addition, knowing a lot of people is crucial to improving the standards of any business. Your venture concept is on a great path and I hope you reach your goals eventually.
ReplyDeleteHi Alison, I really like the ten resources that you have identified for this assignment. These ten resources certainly add you’re your venture’s unfair advantage, and I think that it is important when considering when you are going to expand into new markets. This will help your business be successful. Your VRIN analysis is also very thorough and I like how you took the time to explain why the ten resources are going to be helpful.
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