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23A – Your Venture’s Unfair Advantage

23A – Your Venture’s Unfair Advantage

ENT3003

Chris Ward

What makes you so special?

1)    Business Experience
a)     V= Understanding of how a business should run
b)    R= Not Rare
c)     I= Not imitable
d)    N=Non substitutable
2)    Customer focused
a)     V= Ability to adapt to customer needs and requests
b)    R= Not Rare
c)     I= Not Imitable
d)    N= Non substitutable
3)    Quality Driven
a)     V= Focus on making the best products possible
b)    R= Not Rare
c)     I= Not imitable
d)    N= substitutable with less quality products



4)    Networking Skills
a)     V= Ability to network into necessary crowds to help my business goals
b)    R= Not Rare
c)     I= Not imitable
d)    N=Non substitutable

5)    Location
a)     V= High Traffic area
b)    R= Rare
c)     I= Not imitable
d)    N=Non substitutable

6)    Atmosphere
a)     V= Makes customers want to come back
b)    R= Not Rare
c)     I= Not imitable
d)    N=Non substitutable

7)    Marketing
a)     V= Focused on marketing to the right people
b)    R= Not Rare
c)     I= Not imitable
d)    N=Non substitutable

8)    ENT3003
a)     V= The assignments in this class have us considering things others may not
b)    R= Rare
c)     I= Not imitable
d)    N=Non substitutable

9)    Time Management
a)     V= Especially important during the construction and opening of the business
b)    R= Not Rare
c)     I= Not imitable
d)    N=Non substitutable

10) Prior Experience
a)     V= Experience in the construction of a coffee shop will help when building my own.
b)    R= Rare
c)     I= Not imitable
d)    N=Non substitutable

Top Resource:

The location of this coffee shop is my top resource.  This location is rare and heavily travelled by people that I’m sure will want to stop and grab a cup before heading to work daily. 

Comments

  1. fedpseApril 7, 2019 at 12:59 PM

    Hey Chris,

    location is key. I can see from your VRIN analyses that your location is the single-most important thing that will contribute to the success of your company. You could perhaps, begin to scout other growing areas, and find prime locations in new areas to build your coffeeshop in. This way, you can mark dominance in the area and make it harder for new coffeeshops to try to compete with you.

    ReplyDelete

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