- This is valuable in the fact that he already knows the industry and what it needs. He also has contacts for sales and distribution already established. This is somewhat rare to already know someone in the industry but their are plenty others with that advantage. It can be copied with different people. He can be substituted for someone else.
2. Personal experiences pushing me to create the best possible product and giving me first hand knowledge of what's needed.
- This is very valuable. This is not rare at all, it can be inimitable and can be substituted.
3. Already owning a business which gives me the experience needed to know how to start a new one.
- This is valuable. It isn't very rare but there are still a lot of people who don't own businesses so it makes starting a new one a lot harder. This is inimitable and can be substituted.
4. Financial backing to accomplish goals.
- This is very valuable because without it you can't succeed. It is somewhat rare but plenty of others also have backing. This is inimitable and can be substituted.
5. Excellent computer skills.
- Computer skills are necessary nowadays to be able to run a business successfully. It is not all that rare in my generation. This is inimitable and can be substituted.
6. A friend that owns a networking and search engine optimization company, Adam Smith.
- This is valuable because it helps with acquiring a larger market of people. This is pretty rare to have someone like that as a personal contact. It can be imitated with putting up capital for someone to be able to do the same things. He can be substituted for someone else.
7. The original idea for this product.
- Valuable because without it I wouldn't have anything. Rare because clearly no one else has it. It can't be imitated or substituted.
8. Perseverance to follow through with ideas.
- Very valuable. Somewhat rare. This is inimitable and can be substituted.
9. An education from UF.
- Very valuable. Not very rare. This is inimitable and can be substituted.
10. Friends and family who support me.
- Very valuable. Not very rare. This is inimitable and can be substituted.
I would say that Chris Noel is my top resource because he can help me with getting directly into the industry with my first products.
Hi Christopher,
ReplyDeleteKnowing someone in the industry like you do is certainly an advantage. It really is all about who you know a lot of the times. Even if you have the "what you know" it can still be difficult to get to where you want to be. It sounds like he could get you right into the industry and give you access to some helpful tools.
Angie
http://mynewbloggerblog10.blogspot.com/2016/07/my-ventures-unfair-advantage.html
Christopher,
ReplyDeleteI really like your idea for the mattress with vents. Unfortunately I sweat like crazy at night and believe your idea has a market. Additionally, I agree with you that your top resource is your affiliation with Chris Noel. He will have great insight into the market you need to exploit and the best way to do it. Also your relationship with Adam Smith and his SEO company can help you reach a large market and hopefully start producing revenue right away.
Here is the link to my post “My Unfair Advantage” http://ent3003blogger.blogspot.com/2016/07/my-unfair-advantage.html
Christopher,
ReplyDeleteAs I've said before, I would definitely be a customer for your product if it worked adequately. Having a connection that's already in the industry is the best 'foot in the door' there is. Being able to receive advice and new connections more rapidly will accelerate the whole process. Great job!
http://uf-ent3003.blogspot.com/