23A- Your Venture's Unfair Advantage

Resources
1. Iphone
V: One of the most popular smart phones on the market.
R: Very expensive.
I: While some have tried, apple has made a monopoly on the smart phone industry.
N: Many computers can be used as the same use as the iphone.

2. App store
V: The best place on the market to download applications.
R: Only available on Apple products.
I: While some have tried, apple has made a monopoly on the smart phone industry.
N: The app store will be the only place you can buy this app at.

3. Midtown
V:  Filled with many business’s bringing in millions of dollars of revenue.
R: It is a strip of bars that UF students are welcome to utilize.
I: This is can only be copied by other college towns.
N: Downtown Gainesville has many bars in a small area as well.

4. My network
V: I have expanded my network greatly.
R: My network is something unique to only me and no one else has access to it.
I: This is hard to replicate.
N: Support can come from outside my network.

5. College towns support
V: Every college student would solve a problem by downloading my app.
R: College students go out often, and do not like to wait in lines.
I: Support like this is hard to replicate due to the amount of students in one college.
N: Support can come from non-college students.

6. Organized
V:  I am very organized.
R: Sometimes people have the vision, but aren’t organized enough to see it through.
I: I have my organizational skills and techniques that others don’t know about.
N: Without organization, entrepreneurship can be chaos.

7. My understanding of the need
V: I have been living in a college town for 3 years dealing with this same need.
R: I am a college student who is tired of waiting in line at bars and restaurants.
I: My understanding is irreplaceable.
N: Past experiences have helped work up my understanding of this need.

8. Interest in efficiency
V: When building an app, it is important to make sure the app works efficiently.
R: Many people waste resources and other things in a timely manner.
I: While efficiency is key, it is possible to make a app without efficiency.
N: My past skills and experiences helped me create efficiency.

9. My attitude
V: I have the attitude that each failure is just a learning opportunity and I will never give up.
R: Many times people give up after failing for the first attempts.
I: This attitude can be created by thinking positively.
N: Past events in my life have shaped my thinking and attitude.

10. My desire to improve

V: Ever since I was young, I have had a desire to improve everything I do.
R: It is so rare because many people just try to reach the bar instead of building above the bar.
I: This is hard to replicate because sometimes it is hard to find room for improvement.

N: This is an inherent trait that some people have.

Comments

  1. Alejandro GuerrieriApril 2, 2019 at 7:54 PM

    Eric,

    I enjoyed reading your VRIN analysis. The organization of the document was easy to follow and understand. I noted your resources align on higher levels that would make sense to include as part of the description. For example, your network and college towns support are part of your social capital, while your attitude, being organized, understanding the needs, your interest in efficiency and your desire to improve are part of your human capital. I am not sure about the app store and midtown, as you obviously do not “possess” them, perhaps I would rephrase those entries as “access to” (app store or midtown.) I would also recommend you add a paragraph about what do you consider your best resource from a VRIN perspective, as it is part of the assignment’s requirements. In my own experience, reflecting on my resources was an enlightening experience that led me to a pick on my “social capital” bucket. Thanks again for sharing your analysis.

    ReplyDelete
  2. Alex BachenheimerApril 3, 2019 at 9:05 PM

    Hey Eric,

    I enjoyed reading your post this week as it was very informative and helpful to understand your ventures advantage as you described the 10 resources that included VRIN analysis. You organized it very well and it was easy to understand. I believe that this post has a lot of potential in regards to your business venture. The resources that stuck out to me when reading your post was your network, your interest in efficiency, as well as your desire to improve. Those are all qualities and traits that I have aligned with my business and believe that this is applicable for your business. Overall, you did a great job on the post.

    ReplyDelete

Post a Comment

Popular posts from this blog

30A- Final Reflection

Image
One of my favorite memories in this class was actually the Elevator Pitch. When the first assignment to do this came, I thought that I would be terrible at it and honestly didn't really understand why we were being asked to do it 3 times. By the time I had finished all three assignments, I defiantly understood. Each time it became a little bit easier and came out a little bit better. It was cool too see the improvement. I also think that my entrepreneurship mindset has improved. Now, when I have a problem, I often times try to think of how I could solve the problem. I have began to identify possible opportunities instead of just complaining about something going on in life. I think that this course does a good job of reshaping your mindset to one that seeks opportunity. If I were to make a recommendation to someone taking this course I would tell them to stick to a schedule and ensure that the idea they choose is something they are passionate about. This makes the assignments a...
Read more

26A- Celebrating Failure

1. Currently I am enrolled in Business Finance. This class is extremely challenging and the only thing that counts towards the final grade are the 3, 20 question exams. While studying for these exams, I learned that the best way to learn the information was to try and often times fail. Practice problems are the key. I would try out a new problem type. Usually, I would get the problem wrong, But as I tried more, and gained more reputation with each problem, I would start to get problems correct. 2. This taught me that sometimes failure is important. We can learn from our mistakes if there are no mistakes made. This attitude can help people ensure that they are making the most of their time and continually educating themselves. 3.  I think that failure is extremely important. It teaches people what they are doing wrong and shows where they can improve. More importantly, failure shows even the most accomplished people that they are human. Failure shows that you need to put 100% effo...
Read more

29A- Venture Concept 2

Image
Opportunity:  Since my first day as a college student of the University of Florida, I have noticed a problem that most students seem to agree on. Later at night, the restaurants and bars are often crowded and demand waiting in line for long periods of time. Students constantly complain, and there is no way to make plans ahead because no one knows what establishment will have a long line and which ones wont. Changes in the environment have actually made this a larger opportunity. As the weather gets nicer, more people will want to go out. The other main force is the colleges calendar, as days when there are many exams or no school could affect the wait times at these establishments. College students are all on the same relative schedule, and often times all decide to go out celebrating the same event. A prime example of this is gameday. They still go to the bars even though the crowds are crazy and large. Customers currently just wait in line or go downtown, where less people t...
Read more