- My superior knowledge of the sport of soccer. This is very valuable to a business like mine considering it is based on the sport. There are knowledgeable people on the sport but it is not incredibly common. You cannot copy someone's knowledge, you must learn it yourself. You also cannot substitute knowledge of soccer with anything else because this is precisely what is valuable to the company.
- I have a close friend who is well experienced with programming (for apps/websites). This is valuable as I don't need to search for someone to do this for me. It is fairly rare because not everyone knows a programmer as a good friend. However, it is certainly something that can be imitated. You can substitute having this friend with hiring a programmer but it will be more costly.
- I have the financial capital to startup the business. This is valuable because without the capital you can't really start anything. This isn't rare or inimitable but it is non-substitutable (you need the financial power to start no matter what).
- My passion for making soccer big in America. This is incredibly valuable and also rather rare. However, it is certainly imitable. Also, you can substitute the reason behind your mission for something else.
- My ability to strive for things I'm passionate about. Not super rare and but definitely valuable. That being said, you can imitate this but you can't substitute it.
- I can motivate team members to work for a common goal. V- yes, R- no, I- no, N- yes.
- I have a very strong support team. V-yes, R-no, I- yes, N- yes.
- I can borrow financial capital from close ones if needed. V-yes, R-no, I-yes, N-no
- There are many people I can seek out for good advice on an entrepreneurial venture. V-yes, R-yes, I-yes, N- no
- I have an education from a credible university. V-no, R-yes, I-yes, N-yes
Valuable
Rare
Inimitable
Non-Substitutable
I think my top resource here is my knowledge for soccer. Other than the fact that it is non-substitutable, valuable, inimitable and also fairly rare; soccer knowledge will thoroughly help me tailor my service's experience to the customers liking as best as possible.
Hey Jake,
ReplyDeleteIt seems like your experience and passion for soccer is what will make your business unique and stand out. Looking at your VRIN analysis it seems like this resource would be hard to copy which makes it even more valuable. I also think that the people you surround yourself with are major resources because they are able to help financially and with entrepreneurial advice too.