Resource list:
Me – I think my passion for the product is valuable. I guess
I am rare and inimitable. However I am substitutable for another driven dog
loving person.
A user friendly app – an easy to use app is very valuable. It
isn’t rare since most apps aim to be user friendly. It can be copied or
substituted since there are many designs for a user friendly app.
Knowledge of the target market – I have knowledge of the
target market of this product. I see them every week at the dog park. This knowledge
is very valuable. I wouldn’t say it is rare but not every person knows the dog
owning community as well as I do. It could be copied by someone else. However there
is no substitute for this market.
Knowledge of Gainesville – knowledge of the city one is
operating their business in is invaluable. It isn’t rare since many of
gainesvilles residents know a lot about it. it is easily copied or substituted.
Cheap advertising in the form of fliers at dog parks – this is
valuable because it will cut costs. It is rare to be able to reach such a large
amount of your target market with a few well placed fliers. It is not easily
copied by most businesses.
Advertising revenue – revenue is valuable. It isn’t rare and
its easily copied and substitutable.
Verification safety features – these are valuable because
they provide customers with safety online. Many apps have verification features
so they aren’t rare. They are imitable and substitutable.
Connections to ACHS – this is valuable and semi rare. It is
not easily imitable or substitutable.
Money – this is valuable but not rare. It is completely imitable
and substitutable.
An online community – An online community is extremely
valuable. It is semi rare because not all apps have one. It isn’t easily imitable
or substitutable.
I think that the online community might be the most valuable
resource. If people are making friends and connections through the use of my
app then they will be more likely to keep using it. A loyal online community
would provide a great base for my business idea.
I also listed myself and my passion as a resource. Knowledge of the target audience is a great resource to have. Targeting a local market is a great idea to save money on ads! You were supposed to list resources you already have, but we can hardly check if you already have the user friendly app or ad revenue so you good I guess.
ReplyDeleteHi Emma,
ReplyDeleteI think you did a good job of picking out the resources that were valuable to your business. I think that while you have some physical things it’s important to emphasize your human and social capital. While physical things are important for your business at the end of the day your qualities are what is going to make your business successful.
Great post, Emma! I didn't think to add passion as a resource, and I think that was a big miss on my part. I think the cheap advertising at the dog park is a very valuable resource, but I agree that the growing nature of the internet community is something that successful businesses must harness. If done well, a business can thrive.
ReplyDelete