Valuable - Allows me to wait for deals or anything for that matter.
Rare - Can be, there are a lot of impatient people out there.
Inimitable - Yes.
Non- Substitutable - It is kind of its own resource so, it's not replicable.
2) My Knowledge
Valuable - Yes, the more you know the better and having a degree from UF is a plus.
Rare - It all depends on the knowledge.
Inimitable - I would have to say knowledge is hard to replicate.
Non- Substitutable - Plenty of other universities, so you can replicate it.
3) Market
Valuable - I know the market my product is in, so valuable, yes.
Rare - The car market is quite large, so not too rare to know it.
Inimitable - Yes
Non- Substitutable - Can't replicate a specific market.
4) Financial Capital
Valuable - Very valuable, you need it to start your company.
Rare - Yes, its hard to come up with money.
Inimitable - Kind of illegal, so no. On a serious note, financial capital is hard to come by.
Non- Substitutable - Money is money, no other resources.
5) Customer Service
Valuable - Yes, a lot of people value customer service.
Rare - It's becoming more and more rare these days.
Inimitable - Yes
Non- Substitutable - Can't be replaced by other resources, customer service is customer service.
6) Social Media
Valuable - Valuable if you know how use them properly.
Rare - Not rare.
Inimitable - Yes
Non- Substitutable - Yes, there are other ways to advertise your business.
7) Creative
Valuable - Creativity can be very valuable to a business.
Rare - Yes, a lot of companies lack it.
Inimitable - Yes, there are a lot of creative people out there.
Non- Substitutable - I would have to say there no other resources to replace it.
8) Know My Customers
Valuable - yes, because knowing your customers needs is very important.
Rare - Not very, but some companies don't listen to there customers needs.
Inimitable - yes
Non- Substitutable - I would have to say there no other resources to replace it.
9) Drive
Valuable - Yes, if you don't have drive or passion for your business, you might not be successful.
Rare - No, plenty of people have drive.
Inimitable - Yes
Non- Substitutable - I would have to say there no other resources to replace it.
10) Analytical
Valuable - Yes, because I can better analyze a situation and make the right decision
Rare - No, a lot of people possess this resource.
Inimitable - Yes
Non- Substitutable - I would have to say there no other resources to replace it.
Top Resource - I would have to say customer service is my top resource. Every job I have help since my very first one, has been customer service related. I feel having great customer service is one of the best ways to retain customers. If you take care of your customers, they will take care of you. There has been plenty of times were a customer has come in with an issue and just knowing how to handle the situation with great customer service, has brought them back 9 times out of 10 as a returning customer.
- William Garlock
William,
ReplyDeleteYou did a great job explaining all aspects of this post. I definitely agree with the advantage of being patient. Patience is key in business and is a personality trait that many successful entrepreneurs possess. I actually agree with everything you put on your list, the only thing I see a lack of is something unique to you. If you get a chance here is the link to my post. http://ericchyattesblog.blogspot.com/2016/03/my-unfair-advantage.html
William, you did a great job organizing your assignment. In fact, I organized mine in the same format. I didn't think about putting patience as an unfair advantage. It is very important to have patience while creating a business. I also but creative as an unfair advantage. I think it is very important in making a concept as wonderful as possible. Having a drive is even more important. Nothing will ever happen unless you take the initiative to do everything possible to make your business concept the best. Check mine out if you have the time! It will be a good read.http://itsmyblogforentc3003.blogspot.com/2016/03/my-unfair-advantage.html
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