V: Has allowed me to build and sustain business-related relationships, assists in conducting my service.
R: Even though there are many business majors, not many have the same insight and career aspirations as I do.
I: I am a business major specializing in sports management so it separates myself from the main population.
N: Having the ability to have different majors and work pasts to be able to accomplish a product or service.
2. My transparency skills
V: I am very transparent with everyone and never try to hide the truth.
R: A lot of people aren't transparent and rather hide information instead of releasing it to the public.
I: It isn't difficult to be transparent, it's a character trait that comes with honesty and communication.
N: I plan on having people work with me so having them be transparent is key as well as myself.
3. My interest in simplicity
V: I am an advocate for simplicity and want a world that isn't complex.
R: What the current standing situation is for what my idea is very complex and not easy.
I: It can be simple, just takes the correct planning and efforts to get the task completed.
N: I need to be able to implement my plan and make it as simple as possible so no issues occur.
4. Lack of competitors in field
V: Outside of social media failing groups, no application's purpose it to solve what I am solving.
R: It's uncommon to not have competition especially in regard to involving a cellular device.
I: Obviously other companies can establish a similar idea, but not having competition is key.
N: The service is very straight forward but obviously expanding and being innovative is an option.
5. My family
V: My mother is a hard-working individual who has kept the same job with the same company since she was 21 years old.
R: Not always is someone fortunate enough to have a family that is a good support cast during this process.
I: If you don't have it, you won't be able to utilize it.
N: Outside of your family, comes external support and other "business family"
6: My work ethic
V: I was raised with parents who implemented a strong work-ethic and that's how I carry myself daily.
R: Not everyone has a good work-ethic and that is why many businesses fail.
I: If you don't have a good work-ethic you won't be able to grow and ultimately achieve your goal.
N: Nobody is going to give you a work-ethic you need to strive and work hard to obtain it.
7: Support from local consumers
V: Many potential consumers from the Gainesville area want this idea implemented and to be apart of it.
R: Not everyone is going to use it, but the vast majority without cars will utilize this service to their wanting.
I: If I didn't have this local support, there are tons of colleges in the state of Florida who need this service.
N: Unless you are taking a plane home or walking, this service will not be substituted.
8: My hunger to succeed
V: I grew up hungry to succeed in the business world and plan on doing so in the future.
R: Not everyone is as hungry as the next person and opportunities need to be taken advantage of.
I: If you don't have the hunger to succeed, someone else who is will and then you won't have anything.
N: It can replaced only if you don't want to achieve your business goal, other than that it's not.
9: My leadership skills
V: I have had numerous leadership roles in the past few years that have made me into a great leader.
R: Not everyone is a leader so these skills are rare in that not everyone is build for it.
I: If you don't want to be a leader then you will have to take a minimized role.
N: Being a leader is critical and you can't not be one if you want to be the captain of your own ship.
10: My personal connection
V: I was a college student with no car with a need of trying to get home, I needed this service when it did not exist.
R: It is rare because these social media pages did not exist and the only way of getting home was plane or bus if you couldn't get a ride.
I: You can imitate a personal connection or make it up, it just exists.
N: Your past experiences and connections builds the personal connection and it is something that can't be substituted.
My top resource is my hunger to succeed. My hunger to succeed is due to my connection to my family and what they want from me in the future with my career aspirations. They believe in me and think I have the most potential in the world to be successful with any business idea or service I have. Overall, my hunger to succeed and not taking no as an answer has built me up to who I am today.
Alex,
ReplyDeleteThank you for sharing your VRIN analysis. Seems like you compiled a good set of resources you could tap into to make your venture successful. The VRIN analysis aims to answer the question “is ?” and the answer is typically a yes/no followed by an explanation. While your yes/no answer are somewhat implicit, I would recommend you answer the topics explicitly first, and then explain. On a separate note, if you look at your resources from a higher level, you will notice a pattern:
• Your major, transparency skills, interest in simplicity, work ethic, hunger to succeed, and leadership skills are part of your human capital.
• Your family and support from local consumers are part of your social capital.
Obviously, I am not suggesting you wrap all those points together, but it would be clearer for the reader if you make the categories more explicit. I went on a similar journey with my classification and, after discovering the pattern, ended up tapping into my social capital as the most valuable resource.
Alex,
ReplyDeleteI learned a lot about you through your VRIN analysis. You were very in-depth and shared some really cool things about you. I thought you did an especially good job defining whether or not your 10 resources were rare and valuable and it shows that you truly understand the nature of the assignment. I do agree that having a great hunger to succeed is vital and can change the dynamic of your future.
Alex,
ReplyDeleteI think you did a great job of digging beneath the surface and identifying 10 advantages you have going into your opportunity. I would agree that your hunger to succeed might be your biggest advantage, because without that determination to grow, progress will not happen. I also think the concept of simplicity is a big component that might get over looked. Everything is so complex today and many people appreciate simple, easy to use services. Nice work!