1. Experience
V-most people learn by doing
R-not everyone has similar experiences
I- depends on what exactly the experience is
N-shapes each person individually
2. Network
V- networking can make or break a venture
R- large scale of people
I- it takes time to build up a network
N- other assets can actually be substituted
3. Financial Assets
V- makes venture possible
R- most people borrow money for start up
I- money can be obtained from other sources
N- can be substituted depending on type of financial asset (i.e. savings or mutual funds)
4. Knowledge
V- "knowledge is power"
R- not everyone has knowledge in business or the specific field they are pursuing
I- if the opportunity exits, knowledge can be researched and obtained
N- the ability to work with someone that posses knowledge exits
5. Social Skills
V- working well with people is crucial in business
R- these skills take time to master
I- they can be imitated
N- a strong staff could be substituted
6. Strong Segment
V- the segment must see the need for product
R- a product will not succeed in all segments
I- many segments have the potential to be strong
N- segments can be substituted
7. Managerial Skills
V- much of business involved managing people and assets alike
R- it takes time to master these skills
I- great managerial skills can be imitated across markets
N- staff can be hired to manage
8. Aviation Background
V- thorough understanding of the field
R- only a small portion of the population works in aviation
I- military background is rather unique
N- aviation careers are not as common as other jobs
9. Passion for Pets
V- provides motivation to succeed
R- very common so not rare
I- many people share
N- if passion is not there, people will not be interested
10. Time
V- time is very valuable because it allows progress
R- not every entrepreneur has enough time to devote
I- time is money
N- no substitutes exist
Reflection- I believe that my network base is my strongest resource. My career in naval aviation has provided me a network of pilots and big names of civilian aviation. It is a very unique resource to have and I think that it puts me ahead of competition. It is very rare and not imitable, therefore it makes me stand out.
Salena,
ReplyDeleteI really love how clearly and concisely you laid out your post. Just the layout alone and the easy readability of your bullet entries shows how well you communicate your ideas. I would say this is another strength of yours that will help you in business because people will be more apt to read what you write.
For this assignment, I agree with you that your personal experience and contacts in industry would be your most advantageous factor.
Excellent job laying out your strengths so clearly and doing such a thorough job covering exactly what was asked for this assignment!
Susan
Hey Salena,
ReplyDeleteI like the layout of our resources. I can see how this will be helpful when looking back on it. Also, I like how you mentioned that while passion for pets isn’t rare, it’s still necessary. Your networking and experience in aviation is definitely rare because you have access to so many people with different job descriptions in the field, so I can only imagine how much helpful input you can get with your idea of traveling with pets.