My Venture's Top 10 Resources:
(VRIN analysis= valuable, rare, inimitable, and non-substitutable)
1. Work Ethic
V- Very much so
R- Surprisingly, it is rare these days
I- Can be done but not many are willing to do the work
N- There is no substitute besides maybe luck
2. Father in Business
V- Invaluable
R- Opportunity and mentors like this are rare
I- Not applicable/ no one is my father
N- Maybe a mentor in the business could be a less valuable substitute
3. High EQ(social intelligence)
V- Highly
R- Yes not many have this
I- Its pretty hard to copy this. you have it or you dont.
N- Work Ethic and luck could lead you to success without this skill
4. Knowledge of Finance
V- Necessary for business
R- no, most advisers are knowledgeable
I- Yes
N- no substitutes
5. Large network
V- Yes, for this business your network and client base are everything
R- No, plenty of applicants have large networks coming out of college
I- No
N- There is no substitute
6. Degree from UF
V- Yes, shows i care about my education
R- No, most applicants have good degrees
I- Yes with any other respected degree
N- No substitutes
7. CFP designation
V- Yes shows I am knowledgeable and respected within my field.
R- Yes, most do not have this designation
I- Yes, others could imitate and get this if they desired.
N- No substitutes
8. Respect from Peers
V- Yes, gives me a large target market to begin my business with
R- No, others have respect often.
I- Not imitable
N- No substitutes
9. Leadership Skills
V- Yes, gives me the vision and strength I need to lead a team to success.
R- Yes few have these skills i believe
I- Yes it can be imitated
N- No substitutes
10. Respect for Authority
V- Yes, allows those more senior than I to respect me more due to mutuality.
R- Moderately, most of my friends have such a respect.
I- Yes it can be imitated
N- No substitutes.
Top Resource: Work Ethic
-I stand by my earlier blog posts when I say my work ethic is my biggest resource. I have always been willing to do whatever is necessary to succeed and i will always hold such a mindset. I feel as if this is more important because, if one is willing to work hard no matter where, then they will always find success in all that they do. Not in one of my life's lessons have i ever truly thought "I shouldnt have worked that hard." I have only thought the opposite.
-Mitch
Het Mitch,
ReplyDeleteI like how you put your top resource as work ethic. Its probably something a lot of people lack today and may be the reason many people don't go far in their business venture. I can tell you know where you stand in terms of self worth and are able to put that to good use. Keep up the confidence and I'm sure you will get far with your business!
Hi! I really like the way you structured this assignment, easy to read through and right to the point. Also I think that a great work ethic is a very goo resource to have. It is something that is hard to come by these days, because everyone just wants to get things done as fast as possible. With a good work ethic and determination I am sure you would make a great business!! Here is my post if you are in fact interested in reading it http://anaksunamoon216.blogspot.com/2016/03/my-unfair-advantage.html
ReplyDeleteHi there! I love the way you organized your analysis, it was super easy to read and understand! You used great vocabulary and sound super diligent. You also seem very confident in your skills and values. All your skills and characteristics are great for being a fantastic leader. I've realized that there weren't many substitutes for your traits, which can mean many things. You have skills that people aren't able to necessarily copy. Overall, you did a great job in realizing what you excel in and you've made it easy for me to understand!
ReplyDeleteCheck out my Unfair Advantage
http://nazani95.blogspot.com/2016/03/my-unfair-advantage-week-11.html
Hey mitch, you have a great list of qualities that will help you succeed. I think your best qualities are work ethic, connections, high eq, and the fact that you get respect from others. These traits will help you primarily to become a great leader and head of a business. You seem like a smart guy with a good network and close family professionals to help you along the way. I wish you luck with your concept. Unfortunately I did not complete this assignment but check out my nlog for other cool posts!
ReplyDeletehttp://shamelesslylearning.blogspot.com/