Friday, March 30, 2018

23A- Your Venture's Unfair Advantage

1.Lap top-This is the foundation for my startup idea because it is social media based app so I would need my laptop to start the coding process. This resource is pretty run of the mill and is not rare or anything so its a normal resource.
2.GatorTech-This is a great resource to me because it a tech club that has people who have coded big projects before and can be critical to the success of my code. This is very valuable, pretty rare because not everyone has access to a large group of people with coding experience. This is a non-substitute.
3.Small startup investment-Currently right now, I have a small amount of money set a side that if I was truly invested in this idea, I would invest it in my idea. This could cover costs such as paying people to help me with my coding project. This is pretty valuable because every company needs money to start. So this another run of the mill resource that is easy to copy because like I said every company needs it.
4.UF ISOM department-This is a great resource just like GatorTech, however these are professors who have worked in the tech industry and can give me advice of how to build apps. This is also beneficial because they can give advice of how to be professional and how to act in a tech company, which I can foster and take into my company and use that as a basis for my company culture. This is extremely rare and not many people have. This wouldn't be too hard to copy because anybody can go and ask for help, but it is extremely valuable to have and I think something that helps me stand out.
5.Determination-This is a self trait that I think would be a resource. I am a hard worker who has great determination and a will to do something and finish things I start. This is a valuable resource to have and I don't think everyone has it. It's hard to copy because people can say that they have the determination and drive but that doesn't mean they actually do.
6.Local Entrepreneurs- This is a resource that I have locally that I can get start up advice about, particularly about starting a business in a college town. Many of the local businesses know a lot about the market of selling to college students which is crucial to my business idea. This idea is extremely valuable as it helps me get to know my market better and also get start up advice and how to run a small business.
7.My dad- He is a great resource as he owns his own business and can be a helping hand in starting a business. He owns a pharmacy, which is clearly different than what I want to do, but he still is there to lend advice and be a helping hand on how to run a small business. This is very valuable to have and not everyone has this resource available to them. It is easily copiable but having a personal relationship with someone who owns a business is kinda rare I feel like.
8.Randy Hunziker- This is a great resource to me as he is a lawyer and can help me and give me legal advice if need be in starting a business. This is helpful when starting a business to make sure you jump through all the legal hoops correctly. This is very valuable and somewhat rare to have a personal relationship with a lawyer. Other people can copy this but it would be hard.
9.Family for investment- If I needed more money to help the startup, I would ask my family to see if they would be able to help me out. It costs a decent amount of money to own a business and I could use as much money up front as I can. This is pretty valuable to have but there's no guarantee that I would get any money. This is copiable because most people can do the same.
10.Social Media-This is my marketing tool that I would use to get the word out about my product. My market would be college students and most of them already use social media, so to reach out to them, I would utilize sites like Facebook, Instagram, Twitter, etc. This is valuable because thats a major way I would get my name out there and my product. This is copiable and can be substituted with out marketing techniques, but I feel like social media is the best route.

I think the best resource I have is GatorTech. This is so because it helps me with the technical side of my business idea which would be the hardest part. At the same time, I would be surrounded by a group of people, always ready to help and lend a helping hand whenever need be. Some of them have also seen what it's like to work in a star up and a small business, so they would be a great resource for that as well.

4 comments:

  1. I think GatorTech is a really useful resource for you as well. You have people well versed in the field you are going into available to answer any questions that you have before-hand. They could also come up with some great ideas themselves which could be used in your product to make it even better. I'm not sure how much time they have to use for your product, but it would be interesting to see how invested they get into your product. That being said, I also really like how you talked about social media. Social media I agree is huge in helping to market a product. I do not believe in the "traditional" approach to marketing anymore. That being said, I think you have some great resources in front of you that you should definitely utilize for your upcoming business.

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  2. I put a similar comment on someone else post, and I agree, social media is one of the biggest resources. If yo are good at social media, than you can guarantee contact to thousands of costumers in one click. Advertisement and promotions are faster, cheaper and easier through social media, so being bale to utilize that is very important.

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  3. I would agree that GatorTech is a supremely valuable resource and the technical side of your business is by far the most prominent side that you display within your business. In a similar manner, I agree with your comments on social media, and believe if you or any other business can grab the attention of a widespread audience then it can be an overnight success that sustains into the future.

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  4. Any technological resource that you have access to is a major asset it today's age of online business. Gator Tech and social media are both valuable resources that you can use in your favor. Having tech support a marketing platform are necessary tools for launching your business. Also, local entrepreneurs with experience selling to college kids will help shape your business plan.

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