23A – Your Venture’s Unfair Advantage
23A – Your Venture’s Unfair Advantage
1. Financial Capital: My parents can provide me a fund to start my business
Valuable: High, business needs investments.
Rare: medium, my family is not that rich.
Inimitable: low, everyone has money.
Non-substitutable: Yes, money can't be substituted.
2. Financial Capital: I can borrow money from bank
Valuable: High, business needs investments.
Rare: Low, it's hard for me to borrow money from bank
Inimitable: Low, everyone can borrow money from bank if they are qualified.
Non-substitutable: No, you can also borrow money from your friends.
3. Social Capital: I graduate from top tier middle school, and also my college is good too. My middle school and college friends are both outstanding students and I can ask for their help for my business.
Valuable: Medium, they are talented but I think I can only ask for their help for a while.
Rare: Medium, I'm not in schools like Harvard, and I'm not that amazing, too.
Inimitable: No, there are other outstanding people, too.
Non-substitutable: No, I can hire excellent workers, too.
4. Social Capital: I'm a vice president in Chinese Student Association at UF, and people in the association are potential social capitals in the future.
Valuable: Medium, we need to have mutual benefit for asking for their help.
Rare: Medium, there are student associations everywhere, but not everyone can be a vice president.
Inimitable: No, there are other student associations, too.
Non-substitutable: No, I can join other student associations, too.
5. Human Capital: I have studied in China, Korea, Germany and the US.
Valuable: Yes, the studying experiences in different countries can enlarge my insight and provide me multi-national knowledge.
Rare: High, Not many students have a chance to study in different countries.
Inimitable: No, others can study in different countries, too.
Non-substitutable: Yes, studying experiences in these countries require a lot of time.
6. Capabilities: Ability to stay calm.
Valuable: Yes, stay calm is the basic ability to start a business.
Rare: Medium, there are other people can stay calm, too.
Inimitable: No, this can be learned by experience.
Non-substitutable: Yes, staying calm can't be replaced.
7. Capabilities: Ability to lead a team.
Valuable: Yes, this ability is a basic thing to start a business.
Rare: High, managing a team is hard.
Inimitable: No, this can be learned by experience.
Non-substitutable: Yes, you need this ability to lead your team.
8. Human Capital: Experience of a well-established food delivery company in China.
Valuable: Yes, this helps me understand the market much more.
Rare: Medium, not many people can have such experience in the US.
Inimitable: No, people can go on an internship in China.
Non-substitutable: No, you can have such experience in other countries, too.
9. Social Capital: Videos about food delivery strategies on Youtube.
Valuable: Yes, this tells me more about the market.
Rare: Low, everyone can watch it.
Inimitable: No, this is a common resource.
Non-substitutable: No, you can go to live lectures.
10. Social Capital: Professors in Marketing major can provide me some ideas.
Valuable: Yes, they are professional in the field.
Rare: Low, everyone can ask their professors for similar questions.
Inimitable: No, we can also watch lectures on Youtube.
Non-substitutable: No, we can find books, too.
The most important resource is the help of my family. The fund can make things much easier and I can get a quick start of my business.
6. Capabilities: Ability to stay calm.
Valuable: Yes, stay calm is the basic ability to start a business.
Rare: Medium, there are other people can stay calm, too.
Inimitable: No, this can be learned by experience.
Non-substitutable: Yes, staying calm can't be replaced.
7. Capabilities: Ability to lead a team.
Valuable: Yes, this ability is a basic thing to start a business.
Rare: High, managing a team is hard.
Inimitable: No, this can be learned by experience.
Non-substitutable: Yes, you need this ability to lead your team.
8. Human Capital: Experience of a well-established food delivery company in China.
Valuable: Yes, this helps me understand the market much more.
Rare: Medium, not many people can have such experience in the US.
Inimitable: No, people can go on an internship in China.
Non-substitutable: No, you can have such experience in other countries, too.
9. Social Capital: Videos about food delivery strategies on Youtube.
Valuable: Yes, this tells me more about the market.
Rare: Low, everyone can watch it.
Inimitable: No, this is a common resource.
Non-substitutable: No, you can go to live lectures.
10. Social Capital: Professors in Marketing major can provide me some ideas.
Valuable: Yes, they are professional in the field.
Rare: Low, everyone can ask their professors for similar questions.
Inimitable: No, we can also watch lectures on Youtube.
Non-substitutable: No, we can find books, too.
The most important resource is the help of my family. The fund can make things much easier and I can get a quick start of my business.
Hi Yida，
ReplyDeleteParents who can help you will be your greatest help in your business. Multi-culture background is also very important to a business. The advance food delivery experience in China could help you become successful easier in US. Born in a business family is also helpful for an entrepreneur. Human resource and capital are also important factors. You have a lot of friend who can help you. With the help of right person, a business could grow up a lot easier. Great Job.