1.
Knowledge about the gun industry: I have family
within this industry, so I know first hand how it operates.
o
Valuable: this is very valuable because in order
for my service to be effective I must understand the background behind how the
process already works currently
o
Rare: Many people don’t have first hand experiences
within this industry
o
Inimitable: this could be hard to copy from
others because without this first hand experience they wont really know all
that I know about this industry
o
Non-substitutable: first hand experiences are
hard to be substituted.
2.
Many connections within the firearm industry:
Because I have family within this business I have met many people through them
that are in the similar business
o
Valuable: This is valuable because having these
connections can help me get the word out and find more experts that can be a
helpful in helping me create this service
o
Rare: this is somewhat rare because it could be
difficult finding connections right off the bat
o
Inimitable: this could be copied by others, however
it would take them much longer to find these connections than it took me
o
Non-substitutable: Connections are a large part
in helping you move further when creating a successful product or service so I
don’t think other resources provide that same benefit
3.
Perfectionist: I always make sure anything I do
in life is done to the best of my ability
o
Valuable: this is valuable because in order for
this service to be effective it will need to be perfect, which does mean there will
be a lot of trial and error and research involved
o
Rare: I do think this is rare because many
people just get things done even if they know its not their best work
o
Inimitable: this is hard to be copied by others
because this is a individualistic skill that many people don’t match up to
o
Non-substitutable: Not many things substitute
precise and effective work
4.
Invested: once I start something I put all of my
energy into that project and never give up
o
Valuable: this is very valuable because many people
will give up when things aren’t going there way within the business world
o
Rare: I do think this is rare because being invested
in something means doing anything in your ability even in the face of hard
obstacles
o
Inimitable: this is a very individualistic skill
and you are either invested or you aren’t, there is no in between which is difficult
for many people to grasp
o
Non-substitutable: investing time, money, and
energy to eventually reach your goal is hard to substitute
5.
Large market of customers: This service will be
targeting a great number of customers
o
Valuable: this is valuable because more customers
is always better
o
Rare: many products and services may only target
a small range of people so this is somewhat rare
o
Inimitable: this could be copied with a product
or service that really is for everyone
o
Non-substitutable: there is no other resource
since You need customers who will buy your product or service
6.
My service positively impacts everyone, not just
the ones who use it: Even if someone isn’t using the service, their safety is impacted
by who does
o
Valuable: this is valuable because this means my
service meets the needs of people who use the service and those who don’t
o
Rare: this is extremely rare because most
products or services only have direct effect on customers while mine directly
effect customers and indirectly effects everyone else around
o
Inimitable: this is very hard to copy because
there a very slim products and services that would do this
o
Non-substitutable: There are no other resources
that do this besides having a service like mine that does this
7.
My service gives hope: Currently many people
have been losing hope with all of the deadly shootings, my service offers a
step in the right direction and a little hope
o
Valuable: this is valuable because this hope is
a reason for them to use and be in favor of my service
o
Rare: this is somewhat rare since many products
and services don’t reflect the characteristic of bringing hope to customers
o
Inimitable: this could be copied if there was a
product or service that does deal with the need of safety
o
Non-substitutable: many services and products
will make there everyday life easier but mine gives hope for the future
8.
People skills: I have grown up in a large family
and enjoy interacting with others. I have become very charismatic and work to
achieve other peoples needs before my own
o
Valuable: this is very valuable since I will be
working with many people either those who are helping me create the service or
those who I’m trying to convince to implement it into firearm businesses
o
Rare: this could be somewhat rare because even
if someone has brains they need to be able to communicate and socialize with those
that could help further their idea
o
Inimitable: This could be copied however my
experiences have made me develop people skills that are vey distinct from
others
o
Non-substitutable: there is no resource that can
substitute socialization skills in the business world- it’s a need
9.
Gain a lot of attention: This is a service that people
have been looking for and once the word starts spreading many people will be
talking about it and hopefully will lead to many people in favor of this
service
o
Valuable: this is valuable because in order for
my service to be implemented a lot of outside help of it being favored by
citizens is needed
o
Rare: this is somewhat rare because many services
and products don’t get a loft of attention until after it is already offered
o
Inimitable: this could be copied based on the
prevalence of the product and marketing skills
o
Non-substitutable: There are other resources hat
can help get the idea of a product out into the society
10. Lack of competitors, yet highly desired: there
is currently no service offering what I am offering
o
Valuable: this is very valuable because that
means my service is unique
o
Rare:
this is very rare because we are in a society where many different
creations of a similar products are created
o
Inimitable: it is hard to copy this because there’s
isn’t much that isn’t already offered in some way in our society
o
Non-substitutable” there is no other resource
that could beat uniqueness
Reflection:
After making this list, each are
very important in helping me be successful, so I had a hard time just picking
one.
After thinking about it I came to
the conclusion that the most important is that there is a lack of competition.
This service I’m offering is currently not out there, yet is desired by so
many. Which means when I offer it, it will have support from so many that feel like they’ve been missing this service, and having support is very important in
helping have my service actually be implemented.
Hi Kaitlin,
ReplyDeleteGreat job on your post! You gave really important and detailed insight on the crucial resources needed to grow a successful and effective business. Although all of your resources are necessary, I do agree with you that the lack of competition for this service is the most important. Not having competition is great, it means that your product is unique and you don't have to worry about other businesses trying to run you out of business. I think your business idea is great potential. Overall, wonderful job.
Hey Kaitlin,
ReplyDeleteYou did a really good job identifying your advantages and what will give you that edge over everyone else in the market. Your detail proves to me that you are well aware of these resources and exactly how to exploit them, which is something a great entrepreneur must do. Keep working hard!